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Nvidia Corp.'s board met late Wednesday to decide whether to remove Chief Executive Jensen Huang, a person familiar with the matter told Reuters. The meeting followed a New York Times report that Huang had a second extramarital relationship, this time with a senior Nvidia executive who reports directly to him.
The Wall Street Journal first reported that Nvidia's board was preparing to oust Huang, the company's co-founder, and could meet as soon as Wednesday to determine his future. Nvidia did not immediately respond to requests for comment on the meeting. As of late Wednesday, no decision had been announced.
Nvidia shares fell as much as 9% in after-hours trading following the reports. CBS News reported the stock slid to $159.51 after the close. Earlier on Wednesday, the shares had rebounded nearly 5% during regular trading.
Including Wednesday's after-hours selloff, Nvidia has lost about $600 billion in market value this week, according to Reuters. The losses began after the board announced an investigation into Huang's relationship with a Chinese businesswoman.
The New York Times reported Wednesday that Huang had an extramarital relationship with Kimberly Powell, Nvidia's vice president of health care. The newspaper cited five people who previously worked at Nvidia. Powell reports directly to Huang, and both are married.
According to the report, Huang and Powell were seen being affectionate at a hotel near the venue of Nvidia's annual GTC developer conference in San Jose, California, in March.
Someone reportedly recorded the encounter on a mobile phone. Members of Huang's security team then allegedly took the person aside and asked them to sign a nondisclosure agreement. The Times said it had not seen the video.
When a Times reporter reached Huang by phone and asked about Powell, he said, "I don't think you should be talking to me directly," before hanging up. Nvidia declined to comment, and Powell did not immediately respond to a request for comment.
Nvidia, Huang and Powell have not confirmed the report.
Powell had been scheduled to speak Thursday morning at the Milken Institute Health Summit in Washington. The moderator, CNN reporter Meg Tirrell, announced that Powell had canceled her appearance and did not give a reason, according to reports citing the Times.
Powell joined Nvidia in 2008 and led efforts to apply the company's chip technology to health care, including medical imaging. She was promoted to senior director of AI business development in 2016 and became vice president of health care in late 2017. She gave a presentation at the March GTC conference on how artificial intelligence could transform medicine and life sciences.
Analysts said the new allegation could raise questions about Nvidia's internal controls and corporate governance, beyond the issue of Huang's personal conduct.
Nvidia's code of conduct directs employees to avoid situations that could create conflicts of interest, including personal relationships. Many U.S. companies strictly limit romantic relationships between senior executives and employees who report to them.
Several high-profile CEOs have lost their jobs over workplace relationships in recent years, including former Intel CEO Brian Krzanich and former McDonald's CEO Steve Easterbrook.
The latest report adds to a scandal that began Oct. 29, when The New York Times reported that Huang had a "close relationship" with Alice Huang. She is a former executive at Singapore-based Nvidia customer Megaspeed , and U.S. intelligence officials believe she is a Chinese spy. The two are not related.
In a memo to staff on Sunday, Huang admitted to being "unfaithful" to his wife but did not name the woman. "Leading NVIDIA is the privilege of my life," the message read.
Nvidia's board launched an independent investigation on Sunday and hired former acting U.S. Attorney Joon H. Kim and the law firm Wachtell, Lipton, Rosen & Katz to lead it.
"While the Board has no reason to believe that either national security or NVIDIA secrets were compromised, the Board's inquiry will examine all available information," the board said in a statement Sunday.
The Chinese government has denied the spying allegations, calling them "baseless and purely slanderous smears against China." Alice Huang has not commented publicly.
Huang's potential departure would leave a leadership vacuum at the roughly $4 trillion chipmaker. He co-founded the company in 1993 and built it into the world's dominant supplier of artificial intelligence chips.
Huang, 63, has no obvious successor. He owns about 3.6% of Nvidia's stock and has dozens of direct reports, reflecting the tight control he keeps over the company.
Bloomberg reported Wednesday that Nvidia is working with an outside firm to explore potential replacements for Huang.
"Huang being removed immediately could be challenging for Nvidia since it does not have a succession plan in place," said Gil Luria, head of technology research at D.A. Davidson.
Wedbush analyst Dan Ives has warned that Nvidia could be worth 25% to 30% less without Huang.
Nvidia's board has 11 directors. The company considers all of them independent except Huang.
The meeting marks a sharp shift from Sunday, when the board expressed confidence in Huang and his leadership team.
Huang also faces mounting pressure from lawmakers. House Foreign Affairs Committee Chairman Brian Mast and two other Republican committee chairs have asked Huang to attend a closed-door briefing on Nov. 18 about his contacts with Alice Huang. Huang faces a possible congressional subpoena if he does not respond.
Republican Sen. Kevin Cramer of North Dakota has called on Huang to step down. He told Politico that "the potential for extortion is so tremendous" and that Huang has "got to go."
President Donald Trump has said he has not discussed the allegations with Huang, but he has voiced support for the Nvidia chief. Trump called Huang "an honorable guy" who had "done an amazing job for our country."
CBS News reported that the Trump administration is aware of the board's plans, citing sources.
The turmoil comes days before Nvidia's fiscal third-quarter earnings report, scheduled for Nov. 17. Investors had been looking to the results for reassurance about demand for AI chips after a recent selloff in technology stocks.
The scandal has also rattled Asian markets. South Korea's Kospi slipped Thursday amid concerns over the Nvidia controversy.
This article is for informational purposes only and does not constitute investment advice.
© Copyright 2026 IBTimes AU. All rights reserved.
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Nvidia Corp.'s board met late Wednesday to decide whether to remove Chief Executive Jensen Huang, a person familiar with the matter told Reuters. The meeting followed a New York Times report that Huang had a second extramarital relationship, this time with a senior Nvidia executive who reports directly to him.
The Wall Street Journal first reported that Nvidia's board was preparing to oust Huang, the company's co-founder, and could meet as soon as Wednesday to determine his future. Nvidia did not immediately respond to requests for comment on the meeting. As of late Wednesday, no decision had been announced.
Nvidia shares fell as much as 9% in after-hours trading following the reports. CBS News reported the stock slid to $159.51 after the close. Earlier on Wednesday, the shares had rebounded nearly 5% during regular trading.
Including Wednesday's after-hours selloff, Nvidia has lost about $600 billion in market value this week, according to Reuters. The losses began after the board announced an investigation into Huang's relationship with a Chinese businesswoman.
The New York Times reported Wednesday that Huang had an extramarital relationship with Kimberly Powell, Nvidia's vice president of health care. The newspaper cited five people who previously worked at Nvidia. Powell reports directly to Huang, and both are married.
According to the report, Huang and Powell were seen being affectionate at a hotel near the venue of Nvidia's annual GTC developer conference in San Jose, California, in March.
Someone reportedly recorded the encounter on a mobile phone. Members of Huang's security team then allegedly took the person aside and asked them to sign a nondisclosure agreement. The Times said it had not seen the video.
When a Times reporter reached Huang by phone and asked about Powell, he said, "I don't think you should be talking to me directly," before hanging up. Nvidia declined to comment, and Powell did not immediately respond to a request for comment.
Nvidia, Huang and Powell have not confirmed the report.
Powell had been scheduled to speak Thursday morning at the Milken Institute Health Summit in Washington. The moderator, CNN reporter Meg Tirrell, announced that Powell had canceled her appearance and did not give a reason, according to reports citing the Times.
Powell joined Nvidia in 2008 and led efforts to apply the company's chip technology to health care, including medical imaging. She was promoted to senior director of AI business development in 2016 and became vice president of health care in late 2017. She gave a presentation at the March GTC conference on how artificial intelligence could transform medicine and life sciences.
Analysts said the new allegation could raise questions about Nvidia's internal controls and corporate governance, beyond the issue of Huang's personal conduct.
Nvidia's code of conduct directs employees to avoid situations that could create conflicts of interest, including personal relationships. Many U.S. companies strictly limit romantic relationships between senior executives and employees who report to them.
Several high-profile CEOs have lost their jobs over workplace relationships in recent years, including former Intel CEO Brian Krzanich and former McDonald's CEO Steve Easterbrook.
The latest report adds to a scandal that began Oct. 29, when The New York Times reported that Huang had a "close relationship" with Alice Huang. She is a former executive at Singapore-based Nvidia customer Megaspeed , and U.S. intelligence officials believe she is a Chinese spy. The two are not related.
In a memo to staff on Sunday, Huang admitted to being "unfaithful" to his wife but did not name the woman. "Leading NVIDIA is the privilege of my life," the message read.
Nvidia's board launched an independent investigation on Sunday and hired former acting U.S. Attorney Joon H. Kim and the law firm Wachtell, Lipton, Rosen & Katz to lead it.
"While the Board has no reason to believe that either national security or NVIDIA secrets were compromised, the Board's inquiry will examine all available information," the board said in a statement Sunday.
The Chinese government has denied the spying allegations, calling them "baseless and purely slanderous smears against China." Alice Huang has not commented publicly.
Huang's potential departure would leave a leadership vacuum at the roughly $4 trillion chipmaker. He co-founded the company in 1993 and built it into the world's dominant supplier of artificial intelligence chips.
Huang, 63, has no obvious successor. He owns about 3.6% of Nvidia's stock and has dozens of direct reports, reflecting the tight control he keeps over the company.
Bloomberg reported Wednesday that Nvidia is working with an outside firm to explore potential replacements for Huang.
"Huang being removed immediately could be challenging for Nvidia since it does not have a succession plan in place," said Gil Luria, head of technology research at D.A. Davidson.
Wedbush analyst Dan Ives has warned that Nvidia could be worth 25% to 30% less without Huang.
Nvidia's board has 11 directors. The company considers all of them independent except Huang.
The meeting marks a sharp shift from Sunday, when the board expressed confidence in Huang and his leadership team.
Huang also faces mounting pressure from lawmakers. House Foreign Affairs Committee Chairman Brian Mast and two other Republican committee chairs have asked Huang to attend a closed-door briefing on Nov. 18 about his contacts with Alice Huang. Huang faces a possible congressional subpoena if he does not respond.
Republican Sen. Kevin Cramer of North Dakota has called on Huang to step down. He told Politico that "the potential for extortion is so tremendous" and that Huang has "got to go."
President Donald Trump has said he has not discussed the allegations with Huang, but he has voiced support for the Nvidia chief. Trump called Huang "an honorable guy" who had "done an amazing job for our country."
CBS News reported that the Trump administration is aware of the board's plans, citing sources.
The turmoil comes days before Nvidia's fiscal third-quarter earnings report, scheduled for Nov. 17. Investors had been looking to the results for reassurance about demand for AI chips after a recent selloff in technology stocks.
The scandal has also rattled Asian markets. South Korea's Kospi slipped Thursday amid concerns over the Nvidia controversy.
This article is for informational purposes only and does not constitute investment advice.
© Copyright 2026 IBTimes AU. All rights reserved.
Open article →GDELTNew York
Goldstein: 1.3Tone: -2.3
Nvidia Corp.'s board met late Wednesday to decide whether to remove Chief Executive Jensen Huang, a person familiar with the matter told Reuters. The meeting followed a New York Times report that Huang had a second extramarital relationship, this time with a senior Nvidia executive who reports directly to him.
The Wall Street Journal first reported that Nvidia's board was preparing to oust Huang, the company's co-founder, and could meet as soon as Wednesday to determine his future. Nvidia did not immediately respond to requests for comment on the meeting. As of late Wednesday, no decision had been announced.
Nvidia shares fell as much as 9% in after-hours trading following the reports. CBS News reported the stock slid to $159.51 after the close. Earlier on Wednesday, the shares had rebounded nearly 5% during regular trading.
Including Wednesday's after-hours selloff, Nvidia has lost about $600 billion in market value this week, according to Reuters. The losses began after the board announced an investigation into Huang's relationship with a Chinese businesswoman.
The New York Times reported Wednesday that Huang had an extramarital relationship with Kimberly Powell, Nvidia's vice president of health care. The newspaper cited five people who previously worked at Nvidia. Powell reports directly to Huang, and both are married.
According to the report, Huang and Powell were seen being affectionate at a hotel near the venue of Nvidia's annual GTC developer conference in San Jose, California, in March.
Someone reportedly recorded the encounter on a mobile phone. Members of Huang's security team then allegedly took the person aside and asked them to sign a nondisclosure agreement. The Times said it had not seen the video.
When a Times reporter reached Huang by phone and asked about Powell, he said, "I don't think you should be talking to me directly," before hanging up. Nvidia declined to comment, and Powell did not immediately respond to a request for comment.
Nvidia, Huang and Powell have not confirmed the report.
Powell had been scheduled to speak Thursday morning at the Milken Institute Health Summit in Washington. The moderator, CNN reporter Meg Tirrell, announced that Powell had canceled her appearance and did not give a reason, according to reports citing the Times.
Powell joined Nvidia in 2008 and led efforts to apply the company's chip technology to health care, including medical imaging. She was promoted to senior director of AI business development in 2016 and became vice president of health care in late 2017. She gave a presentation at the March GTC conference on how artificial intelligence could transform medicine and life sciences.
Analysts said the new allegation could raise questions about Nvidia's internal controls and corporate governance, beyond the issue of Huang's personal conduct.
Nvidia's code of conduct directs employees to avoid situations that could create conflicts of interest, including personal relationships. Many U.S. companies strictly limit romantic relationships between senior executives and employees who report to them.
Several high-profile CEOs have lost their jobs over workplace relationships in recent years, including former Intel CEO Brian Krzanich and former McDonald's CEO Steve Easterbrook.
The latest report adds to a scandal that began Oct. 29, when The New York Times reported that Huang had a "close relationship" with Alice Huang. She is a former executive at Singapore-based Nvidia customer Megaspeed , and U.S. intelligence officials believe she is a Chinese spy. The two are not related.
In a memo to staff on Sunday, Huang admitted to being "unfaithful" to his wife but did not name the woman. "Leading NVIDIA is the privilege of my life," the message read.
Nvidia's board launched an independent investigation on Sunday and hired former acting U.S. Attorney Joon H. Kim and the law firm Wachtell, Lipton, Rosen & Katz to lead it.
"While the Board has no reason to believe that either national security or NVIDIA secrets were compromised, the Board's inquiry will examine all available information," the board said in a statement Sunday.
The Chinese government has denied the spying allegations, calling them "baseless and purely slanderous smears against China." Alice Huang has not commented publicly.
Huang's potential departure would leave a leadership vacuum at the roughly $4 trillion chipmaker. He co-founded the company in 1993 and built it into the world's dominant supplier of artificial intelligence chips.
Huang, 63, has no obvious successor. He owns about 3.6% of Nvidia's stock and has dozens of direct reports, reflecting the tight control he keeps over the company.
Bloomberg reported Wednesday that Nvidia is working with an outside firm to explore potential replacements for Huang.
"Huang being removed immediately could be challenging for Nvidia since it does not have a succession plan in place," said Gil Luria, head of technology research at D.A. Davidson.
Wedbush analyst Dan Ives has warned that Nvidia could be worth 25% to 30% less without Huang.
Nvidia's board has 11 directors. The company considers all of them independent except Huang.
The meeting marks a sharp shift from Sunday, when the board expressed confidence in Huang and his leadership team.
Huang also faces mounting pressure from lawmakers. House Foreign Affairs Committee Chairman Brian Mast and two other Republican committee chairs have asked Huang to attend a closed-door briefing on Nov. 18 about his contacts with Alice Huang. Huang faces a possible congressional subpoena if he does not respond.
Republican Sen. Kevin Cramer of North Dakota has called on Huang to step down. He told Politico that "the potential for extortion is so tremendous" and that Huang has "got to go."
President Donald Trump has said he has not discussed the allegations with Huang, but he has voiced support for the Nvidia chief. Trump called Huang "an honorable guy" who had "done an amazing job for our country."
CBS News reported that the Trump administration is aware of the board's plans, citing sources.
The turmoil comes days before Nvidia's fiscal third-quarter earnings report, scheduled for Nov. 17. Investors had been looking to the results for reassurance about demand for AI chips after a recent selloff in technology stocks.
The scandal has also rattled Asian markets. South Korea's Kospi slipped Thursday amid concerns over the Nvidia controversy.
This article is for informational purposes only and does not constitute investment advice.
© Copyright 2026 IBTimes AU. All rights reserved.
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The board of Nvidia on Sunday said that it was opening an independent investigation following reports that CEO Jensen Huang had been targeted by a foreign intelligence effort.
The announcement followed reporting by The New York Times and the Financial Times about Huang’s relationship with Alice Huang, a Chinese business woman whom the outlets reported had been recruited to spy for China. The two are not related.
NBC News has not confirmed either report and has reached out to the Trump administration for comment.
“The NVIDIA Board is initiating an independent investigation in light of recent reporting that founder and CEO Jensen Huang has been the target of a foreign intelligence effort,” the company said in a statement .
“A committee of independent directors, assisted by outside independent counsel, will oversee the investigation. The Board prioritizes U.S. national and economic security, which is paramount to the interests of NVIDIA and its shareholders.”
The company added that it “has no reason to believe that either national security or NVIDIA secrets were compromised, the Board’s inquiry will examine all available information.”
In memo to Nvidia employees shared by the company with NBC News, Huang said: “I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did.”
The New York Times and the Financial Times reported that Alice Huang, a Chinese citizen whose Singapore-based company was buying Nvidia’s advanced chips, had been under surveillance by U.S. intelligence agencies. Those agencies, the reports said, found that Alice Huang had been recruited to spy by China’s top intelligence agency.
Jensen Huang and Nvidia, for years, have been at the forefront of the artificial intelligence boom. Nvidia’s products are the most highly-sought after chips in the world, however its top-tier products are mostly restricted from being sold to customers in China due to national security fears.
China has long sought to become a global leader in AI. President Xi Jinping set a 2030 deadline to surpass the capabilities of American AI systems.
Huang, 63, essentially serves as an ambassador for the industry, regularly appearing alongside the likes of President Donald Trump, King Charles, and at conferences to tout his company and what he says will be immense payoff in the future from AI.
In October, Trump awarded Huang the National Medal of Science, one of the nation’s highest honors for achievement in science and technology.
Nvidia is the world’s second largest publicly traded company as of Friday, worth nearly $4.5 trillion. That’s up more than 500% over the last five years.
Huang has also seen his wealth balloon leading the company. His net worth has soared from around $25 billion at the start of 2022 to almost $160 billion, making him the world’s 10th-richest person, according to Bloomberg Billionaires Index.
In the latest series of these reports, published on Sunday afternoon by the New York Times , the paper reported that concerns inside the U.S. government about Alice Huang and Jensen Huang rose as high as involving Secretary of State Marco Rubio.
On Friday, the FT reported that the U.S government believed that Jensen Huang had a romantic relationship with Alice Huang. In response to that story, the FT reported that Nvidia declined to comment and said that Jensen Huang meets “thousands of customer executives every year” as any CEO normally does.
Huang previously defended his interactions with Alice Huang, describing them as business-related in a recent statement: “Our relationship, our interactions, have been related to Megaspeed, and it was all completely normal and not unusual.”
In Sunday’s memo, Huang wrote: “To my wife and family: I love you. I know an apology cannot undo what I have done. I hope our family will heal and that, over time, I can earn back your trust.”
The email to employees continued: “To my colleagues at NVIDIA, including those I have worked alongside for decades, and to our board, partners, and shareholders around the world: you deserve better from me. Leading NVIDIA is the privilege of my life. My responsibility is to serve you and be worthy of your trust. I have fallen short of that responsibility. I am fully committed to NVIDIA and will work to earn back your confidence.”
A spokesperson for Nvidia told NBC News that “today’s news will not slow” the company and that Huang was “committed to continuing to lead NVIDIA as CEO without interruption.”
Before Sunday’s announcement, Nvidia and Huang were already facing congressional scrutiny over the reports about Megaspeed and its executive. On Thursday, top House Republicans requested a briefing from Huang about the reports.
“Recent reports raise significant national security concerns regarding the PRC’s access to sensitive U.S. technology and information,” said Michigan Rep. John Moolenaar, who is also chairman of the House Select Committee on China.
“It is vital that Congress determines the extent to which U.S. national security has been placed at risk,” a letter to Nvidia read .
Steve Kopack is a senior reporter at NBC News covering business and the economy.
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