Nvidia’s board met late Wednesday to decide whether to remove co-founder and CEO Jensen Huang, Reuters reported, citing a person familiar with the matter. The Wall Street Journal first reported that directors were preparing to oust him. The reports followed allegations of a second extramarital affair and an Nvidia investigation into whether a foreign intelligence operation targeted Huang. Nvidia did not immediately comment on the meeting, and the board’s decision remained unclear.
Nvidia investigates reported foreign intelligence effort
On Sunday, Huang acknowledged a relationship with Alice Huang in a note to employees, writing, “I was unfaithful to my wife.” The two share a surname and have no family connection. Alice Huang held a senior role at Megaspeed, a Singapore-based data centre company and major Nvidia customer. The Journal reported that photographs showed the two together in Taipei in 2024 and 2025.
US intelligence officials reportedly circulated a memo in the spring alleging that Alice Huang was an asset of China’s Ministry of State Security. US authorities have also scrutinised whether Megaspeed helped Beijing obtain advanced Nvidia chips subject to US export restrictions.
Read More: Apple Takes On Microsoft and Nvidia With Macs Built for Local AI
Nvidia’s board announced an independent investigation on Sunday. A committee of independent directors will oversee the inquiry with help from outside counsel. The board said it had confidence in Huang and his leadership team. It also said it had no reason to believe the matter had compromised US national security or Nvidia’s confidential information.
“I support the investigation and will cooperate fully. I love our country and our company,” Huang wrote. Three Republican House committee chairs have asked him to brief lawmakers behind closed doors on November 18.
Second affair report adds pressure as Nvidia shares fall
The New York Times reported Wednesday that Huang, 63, had a second affair with Kimberly Powell, 48, Nvidia’s vice president of healthcare. Powell reported to Huang and has publicly promoted Nvidia’s work in healthcare and higher education. The Times cited video evidence and said the two “were seen being affectionate at the hotel” during a conference in San Jose, California. Powell did not respond to the Journal’s request for comment.
Nvidia shares fell more than 8% in extended trading Wednesday. The company is due to report quarterly results on November 17. Retail investor Mark Kistenmacher filed a proposed class action in California on Monday. The complaint alleges that Nvidia and Huang misled investors about the relationship with Alice Huang and its national security implications.
Read More: Nvidia Warns Customers of Major AI Server Price Increase
Huang accepted the National Medal of Science from President Donald Trump last month. He joined Elon Musk, Jeff Bezos and Mark Zuckerberg in pledging industry self-regulation of AI. Trump rejected calls for government oversight and dismissed warnings that AI could threaten humanity’s survival.
Nvidia’s graphics processing units, or GPUs, originally handled 3D visuals in video games. They now power many of the systems that train and run AI models. Taiwan Semiconductor Manufacturing Company, the world’s largest contract chipmaker, manufactures most of Nvidia’s processors.
