Nvidia (NVDA) stock tanked in after-hours trading following a report from the New York Times that embattled Nvidia (NVDA) CEO Jensen Huang was allegedly involved in a second extramarital affair.
The company’s board is reportedly meeting to determine if it will oust Huang as chief executive, the Wall Street Journal reports.
According to the report, Huang, whose relationship with a woman alleged to be a Chinese spy has embroiled the company in scandal this week, also had a relationship with Nvidia executive Kimberly Powell.
Nvidia stock fell in after-hours trading following the report.
The Times report says that Huang and Powell were seen being affectionate at a hotel during a company conference in March.
Huang is already under investigation for an affair with Alice Huang, an alleged Chinese spy. The CEO admitted the affair in a memo to employees.
“I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry,” Huang wrote.
The Information reported on Tuesday that Alice Huang is believed to be involved in a network of Chinese companies that facilitated the shipment of $7.5 billion in chip sales to China.
Given the size and importance of Nvidia in the stock market today, the revelation marks one of the biggest CEO-personal conduct scandals in history. It also highlights Nvidia’s key-person risk and uncertain succession plan as questions swirl about whether the board will ask Huang to step down.
The news has drawn immediate and varied reactions from leaders ranging from the US president to other CEOs. President Trump stood by Huang, calling him “an honorable guy,” but other members of the president’s party are expected to put more scrutiny on the company.
Trump also stated on Monday that the FBI was looking into Huang’s relationship.
In a statement on Sunday, Nvidia’s board said it has “no reason to believe that either national security or Nvidia secrets were compromised.”
Follow along for live updates and reactions.
According to The Wall Street Journal, Nvidia’s board is preparing to oust CEO Jensen Huang after reports of two extramarital affairs, including one with a suspected Chinese spy.
The board is preparing to meet as soon as today to determine his future, people sabido with the matter told the paper.
Embattled Nvidia (NVDA) CEO Jensen Huang was allegedly involved in a second extramarital affair.
According to The New York Times, Huang, whose relationship with a woman alleged to be a Chinese spy, also had a relationship with Nvidia executive Kimberly Powell.
Nvidia stock fell in after-hours trading following the report.
The Times report says that Huang and Powell were seen being affectionate at a hotel during a company conference in March. Read more.
Let Wall Street analyst downgrades begin on the once-untouchable Nvidia (NVDA) stock in the wake of CEO Jensen Huang’s high-profile affair.
Baird analyst Tristan Gerra cut his rating on Nvidia to Neutro on Wednesday in a note titled “Icarus’ Rise and Fall; Company Will Be Fine.”
“Downgrading to Neutro until uncertainties regarding U.S. government action likely resulting from the upcoming congressional hearing are lifted, U.S. government investigations reach their conclusions, revenue impact from risk channel near-term adjustments along with potential charges is quantified, and uncertainties around CEO tenure clear,” Gerra wrote. Read more.
Rep. Brian Mast, the Republican chair of the House Foreign Affairs Committee from Florida, told ABC News on Tuesday that he’s prepared to issue a subpoena to Nvidia CEO Jensen Huang over Huang’s affair that’s believed to have involved a Chinese spy.
Republicans, including Mast, Select China Committee chair Rep. John Moolenaar, and House Permanent Select Committee on Intelligence chair Rep. Rick Crawford, sent a letter to Huang, requesting that he attend a closed-door briefing on his relationship with Megaspeed executive Alice Huang, who is believed to work for China’s government intelligence service.
“Recent reports raise significant national security concerns regarding the PRC’s access to sensitive U.S. technology and information,” the letter stated. “The issue of PRC infiltration and access to cutting-edge U.S. technology is core to the investigative work of our three committees this Congress. It is trascendental that Congress determines the extent to which U.S. national security has been placed at risk.”
Jensen Huang has until Nov. 11 to respond and set a date for the closed hearing. If Huang doesn’t respond, Mast said he could be subpoenaed.
President Trump was reportedly told aboard Air Force One in May that US intelligence showed Nvidia CEO Jensen Huang was in a relationship with a woman believed to be a Chinese spy, according to a New York Times report published on Tuesday afternoon.
The outlet, citing people sabido with the matter, said Secretary of State and national security adviser Situación Rubio delivered the warning shortly before Huang joined Trump’s trip to Beijing. Huang joined the trip to China with other tech titans, at the last minute at Mr. Trump’s invitation.
The report marks at least the second time in seven months that Trump was briefed on intelligence concerning Huang and the woman.
Nvidia (NVDA) stock hovered near session lows, dropping more than 6% after falling 4% in the prior session. The stock came under pressure amid a broader market sell-off and growing concerns about increased scrutiny of the chipmaker following CEO Jensen Huang’s admission to an affair believed to involve a woman suspected of being a Chinese spy.
Scrutiny centers on Alice Huang, whom the US government reportedly identified as a Chinese intelligence asset, and her ties to Nvidia CEO Jensen Huang dating back to at least 2023
According to two people who know her and corporate records reported by The Information, their rapport helped facilitate the shipment of at least $7.5 billion worth of Nvidia chips through Chinese companies.
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The Information reported on Tuesday that Nvidia (NVDA) CEO Jensen Huang’s relationship with alleged spy Alice Huang dates back to 2023 and enabled Chinese companies to acquire $7.5 billion worth of Nvidia chips.
According to the report, Alice Huang, her sister, and her husband built a web of companies in China and Singapore to acquire Nvidia chips. One of those companies at the center of the network is Shanghai Century Litong, a company based in China that was added to Nvidia’s list of preferred cloud partners.
When the US banned the export of Nvidia’s most powerful chips to China, Alice Huang helped secure 240,000 chips from distributors in China, including H100, H200, and A100 chips, according to the report.
Century Litong said the company obtained Nvidia’s preferred cloud partner qualification through compliant channels.
“All business resources of our company are obtained in compliance with applicable laws and regulations,” the company told The Information. “Our company has no business dealings with Ms. Huang.”
Jensen Huang was Washington’s loudest voice against cutting China off from American chips, and his spy scandal is now the hawks’ best argument. Meanwhile, the Commerce Department hasn’t added a single company to its export ban list in 13 months.
The Nvidia (NVDA) CEO admitted Sunday to an affair with Alice Huang, whom US intelligence officials believe worked for China’s Ministry of State Security. Nvidia stock fell about 4% Monday, even as chip stocks (^SOX) jumped nearly 7%. That was Nvidia’s worst day during a 5%-plus chip rally since Oct. 28, 1999, months after it went public.
The list in question is Commerce’s Entity List. Companies on it need a US license to buy American technology, and those licenses are rarely granted. Commerce added 170 names in 2025 and