Michael Burry Declares ‘Don Has Fallen’ Amid Nvidia CEO Row, But Gene Munster Says NVDA Can Thrive ‘With or Without Jensen’

As Nvidia Corp. (NASDAQ:NVDA) Chief Executive Jensen Huang faces a board investigation over reported extramarital affairs, “The Big Short” investor Michael Burry is warning of “key-man risk,” while Deepwater Asset Management’s managing partner Gene Munster argued that the company’s chips remain the “best bang for your buck.”

‘The Don’ and Succession Speculation

In a post on X, Burry declared, “The Don has fallen,” characterizing Huang as an “Enforcer” amid a Department of Justice probe. Noting reports that Huang maintained 60 direct reports and delegated little, Burry stated, “The key-man risk at NVIDIA always was a worry.” He expressed doubt that Chief Financial Officer Colette Kress could step in seamlessly to replace Huang.

According to reports out of TechCrunch and Axios, the Don had as many as 60 direct reports and delegated little. https://t.co/1FkZrqQc34

— Cassandra Unchained (@michaeljburry) November 12, 2026

Investor Dan Niles posted on X that he expects Huang is “gone at NVDA, potentially by tomorrow morning,” predicting Kress will assume the interim CEO role. While Niles stated Nvidia has a “deep bench of direct reports” to sustain its product pipeline, he warned new leadership will probably “set a low bar and the stock could trade at a single digit PE.”

Given NYT article, I think Jensen is gone at $NVDA, potentially by tomorrow morning with my guess the CFO as interim-CEO. But I think the stock bottoms on a RELATIVE basis compared to the semi index post earnings next week at the latest. The new interim CEO will probably want to…

— Dan Niles (@DanielTNiles) November 11, 2026

These comments follow a New York Times report that Huang had a relationship with Nvidia’s vice president of health care, Kimberly Powell. The board had already opened an investigation, led by law firm Wachtell, Lipton, Rosen & Katz, into a separate affair with a woman U.S. intelligence identified as a Chinese spy.

Market Impact and Customer Demand

Despite the leadership uncertainty, Munster told CNBC he expects investors to rebound. Munster stated he initially anticipated a “20% step down” for the stock. “I would expect that the stock probably gaps down and then starts to slowly work higher,” Munster said.

Munster disputed the idea that competitors would benefit, stating, “AMD is not Nvidia.” He insisted hyperscalers “cannot get enough of Nvidia chips,” adding the technology is “still the best bang for your buck.” Munster concluded that customers will act in their best interest to secure advanced chips “with or without Jensen.”

How Has NVDA Performed in 2026?

The stock is down 10.06% over the last year, 6.85% year-to-date, and lower by 24.33% over the last month. It closed 2.92% higher at $173.73 per share on Wednesday; the stock was down 7.35% in overnight trading, according to Benzinga Pro data.

Benzinga’s Edge Stock Rankings indicate that NVDA maintains a negative price trend in the short, long, and medium terms, with a good quality score.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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