Freedom Capital’s Paul Meeks says he’s buying Nvidia at ‘stupid’ valuations after Huang exit

Nvidia just lost the only CEO it has ever really known. Paul Meeks, meanwhile, is reaching for his wallet.

The head of technology research at Freedom Capital Markets says he is buying Nvidia shares “with both hands” after CEO Jensen Huang’s resignation. His reasoning is simple: the scandal-driven slide has pushed the stock to what he calls “stupid” valuation levels.

The numbers behind the call

Meeks pointed to one metric in particular. After Thursday’s decline, Nvidia trades at just 10 times analysts’ earnings estimates for fiscal 2028.

The damage leading up to this point has been steep. Nvidia shares are down 20% in November alone, weighed down by the unfolding scandal.

The company’s market capitalization has shed losses in the multi-hundred billion dollar range since early November.

“With both hands.” Paul Meeks, Freedom Capital Markets, on how he is buying Nvidia shares

How Nvidia got here

Huang resigned as CEO on November 12, 2026, following allegations of extramarital affairs, according to the research findings. The scandal first surfaced in early November and steadily dragged on the stock throughout the month.

His departure carries extra weight because of how long he held the job. Huang led Nvidia for more than 30 years, guiding it into a dominant position in the AI industry.

Nvidia’s board has named CFO Colette Kress as interim CEO while it searches for a permanent replacement.

Reports indicate the scandal has introduced uncertainty around Nvidia’s long-term strategy and product roadmap, especially regarding its China-related operations.

Meeks is no stranger to this kind of trade. The research findings note he has a history of making bullish calls on Nvidia during dips. This one, however, is reportedly his first tied to a leadership crisis rather than a broader market pullback.

What this means for investors

The core debate is whether Nvidia’s value lives in its products or in its founder. Meeks is effectively betting on the former.

China is the variable worth watching most closely. The research findings flag uncertainty around Nvidia’s China-related operations as a specific concern. Any disruption to contracts or partnerships in that region could hit the earnings base Meeks is relying on.

There is a broader ripple effect too. Tech stocks tied to the AI boom are facing heightened scrutiny and volatility in the wake of the scandal, according to the research findings.

Meeks has made his choice, and he made it loudly. Whether “stupid” valuations turn out to be a gift or a warning depends on how quickly Nvidia can prove the machine still runs without the man who built it.