Nvidia's board is preparing to remove founder and CEO Jensen Huang, according to a report from The Wall Street Journal.
The Journal reported on X (formerly Twitter) on November 11th that the move follows two extramarital affairs, including one with a suspected Chinese spy. Citing people familiar with the matter, it said directors could meet as soon as Wednesday to decide Huang's future. The Financial Times separately reported that the board was set to hold urgent talks about its founder.
Earlier the same day, The New York Times reported that Huang had a second affair, this time with an Nvidia executive who reported to him. The newspaper cited five people who had worked at the company. Nvidia did not immediately respond to Reuters' request for comment, and Reuters said it could not verify the reports.
Shares slide as the probe widens
Nvidia's stock fell by about 7% to 8% in after-hours trading following the Journal's report. According to Reuters, the company has lost more than $300bn in market value since news of Huang's relationship with Alice Huang (no relation) broke. US intelligence has said Alice Huang helped move Nvidia chips to Chinese firms.
The reports come days after Nvidia's board opened an independent investigation into whether Huang was the target of a foreign intelligence effort. At the time, the board said it had "no reason to believe that either national security or NVIDIA secrets were compromised" and that it had "confidence in Jensen and his leadership team." Huang apologised to staff in an email, writing: "I was unfaithful to my wife. My actions hurt her and our children."
Pressure has also come from Washington. Reuters reported on Wednesday that House Republicans were pushing for Huang to testify and had floated a subpoena over the spy allegations. Nvidia, best known to gamers for its GeForce graphics cards, has not commented publicly on the board's plans.
