Nvidia’s board of directors is preparing to remove co-founder and CEO Jensen Huang following revelations of two extramarital affairs, including one involving a woman suspected by U.S. intelligence officials of being a Chinese spy, according to multiple media reports.
The board was expected to meet the evening of Nov. 11 to decide Huang’s future, The Wall Street Journal reported, citing people familiar with the matter. CBS News independently reported that two sources confirmed the board was preparing to oust Huang.
The potential dismissal would end Huang’s 33-year tenure as CEO of Nvidia, which he co-founded in 1993 and transformed into the dominant supplier of chips powering the artificial intelligence boom.
The reports followed a New York Times investigation that disclosed a second extramarital relationship involving Kimberly Powell, an Nvidia executive who reported to Huang.
Earlier this week, Huang acknowledged being unfaithful to his wife following reports of a relationship with a woman whom U.S. intelligence officials suspect of having ties to Chinese intelligence.
On Nov. 8, Nvidia’s board announced an independent investigation into whether Huang had been targeted by a foreign intelligence operation. The investigation is being overseen by independent directors with assistance from outside counsel.
At the time, the board said it had “no reason to believe that either national security or Nvidia secrets were compromised” and publicly expressed confidence in Huang’s leadership.
The latest developments represent a sharp reversal from that position, although Nvidia has not publicly confirmed a decision to remove Huang.
Nvidia shares fell about 8% in after-hours trading on Nov. 11 following the reports, reflecting investor concerns about a possible leadership transition at one of the world’s most valuable companies.
Huang’s potential departure also raises succession questions. Nvidia has not publicly identified a successor, and Huang maintains an unusually centralized management structure with dozens of executives reporting directly to him.
Chief Financial Officer Colette Kress has been mentioned as a possible interim leader, although the company has announced no succession arrangements.
The uncertainty comes ahead of Nvidia’s next earnings report, scheduled for Nov. 17, as investors assess whether a change in leadership could disrupt the company’s relationships with major technology customers and its position in the global AI infrastructure market.