Ives Puts Huang's Value at $1 Trillion as Musk and Baker Rally

Analyst Dan Ives has put a $1 trillion price tag on departed Nvidia CEO Jensen Huang's value to the company's story, according to Yahoo Finance. The claim landed two days before Nvidia reports third-quarter fiscal 2027 results on November 17, 2026 — without the man who led the chipmaker for 33 years.

Ives, a partner at Yorkville Ives, made three points in the coverage. The first drives the headlines: "Jensen's worth $1 trillion to the story." The second is a technology claim: "From a technology perspective, he is irreplaceable." The third splits his valuation into two scenarios: "The valuation without Jensen is $225 per share. With him, it's $300."

That $75-per-share gap turns an abstract leadership worry into a spread traders can argue about. Measured against the lower figure, the with-Huang case carries a 33.3% premium. Measured against the higher one, the without-Huang case implies a 25% haircut. Moneywise separately reported that Ives suggested removing Huang could cut Nvidia's value by 25% to 30%, roughly $1 trillion to $1.2 trillion — a range implying a company worth about $4 trillion.

What does the $1 trillion figure actually mean?

It is not Huang's personal fortune. The figure measures how much of Nvidia's market story, in Ives's view, walks out the door with him. Ives also described Huang on Bloomberg Surveillance as the "hearts and lungs" of the Nvidia story, worth trillions of valuation, according to CEOInterviews.AI. His numbers are analyst estimates, not disclosures. Nobody at Nvidia has said its value drops by any amount because Huang left.

Why is Huang called irreplaceable?

Huang resigned on a Thursday in November 2026 after 33 years leading the company he co-founded. CFO Colette Kress now serves as interim CEO, keeping her finance duties while the board searches for a permanent successor from inside and outside the company.

Ives's argument rests on Huang's three-decade arc steering Nvidia from graphics cards toward AI accelerators, setting priorities for architecture, software and partnerships at once. AI roadmaps run years ahead. Decisions made today about memory, networking and tooling shape what customers can buy in 2028. The counterpoint: Nvidia employs large engineering teams, and no chip program, roadmap item or deadline has been publicly attributed to the leadership change.

What did Musk and other backers say?

Elon Musk, CEO of SpaceX, supplied the most operational argument. Yahoo Finance quoted his post in full: "Jensen managed the supply chain exceptionally at Nvidia, but many agreements were based on a handshake with Jensen rather than formal contracts. Without him, some of those essential agreements may be forfeited."

The claim concerns contracts, not chips. If true, a foundry, memory supplier or large customer could reopen terms that rested on personal trust. The claim remains unverified; suppliers have not commented. Musk also replied "I agree" to a post from Sequoia Capital partner Shaun Maguire, who wrote that Huang was irreplaceable for America's AI leadership, per The New York Times, which followed up on November 14 with a report on tech leaders rallying behind Huang.

Gavin Baker, CIO of Atreides Management, and Brad Gerstner, CEO of Altimeter Capital, addressed the board directly: "We believe the board should refrain from hastily seeking a replacement for Jensen, which could undermine and compromise the best interests of shareholders." The letter asks for patience, not reinstatement. Baker, who has known Huang almost 30 years, also said: "I simply do not believe he would ever knowingly do anything to disadvantage either America or Nvidia."

Only Ives attaches a dollar value to Huang. Musk, Maguire, Baker and Gerstner argue about leadership, supply and process — a distinction the bundled headlines blur.

What happens next?

The November 17 earnings call is the first hard test. Reports say Kress will lead it, and analysts will listen for answers on supplier terms, roadmap commitments and the board search. Competitors from AMD to hyperscaler custom silicon will pitch hard, but buyers lock in multi-year orders, so near-term share shifts remain unlikely. Bloomberg Opinion has run a contrarian column arguing Huang failed Nvidia long before the affair — evidence the debate is not one-sided. The leadership question has become a priced variable in the AI trade.