WASHINGTON: Nvidia shares fell more than 8 per cent in after-hours trading after reports emerged that the company’s board of directors is preparing to remove Chief Executive Officer Jensen Huang amid an investigation into his personal relationships and their possible implications for the chipmaker, according to a report by CBS News.
The shares declined to USD 159.51, extending a fall that has wiped out more than USD 450 billion from the company’s market value since Nvidia announced an investigation into Huang’s conduct on November 8, the report said.
According to CBS News, which cited sources familiar with the developments, the Trump administration is aware of the board’s plans. The Wall Street Journal was the first to report that board members were preparing to remove Huang.
The developments come amid scrutiny over Huang’s alleged relationships with two women, including Alice Huang, a Chinese business executive suspected by US intelligence agencies of having links to China’s Ministry of State Security.
Huang had acknowledged being unfaithful to his wife in an internal message to employees on Sunday and apologised to his family. Nvidia subsequently appointed law firm Wachtell, Lipton, Rosen & Katz to conduct an independent investigation into the allegations, according to the previously reported developments.
Nvidia CEO Jensen Huang allegedly has a second affair on top of the suspected Chinese spy.
He also had a romantic relationship with Kimberly Powell, someone who worked at Nvidia since 2008, according to a New York Times report. https://t.co/QJRTnJb8c6
— Pubity (@pubity) November 11, 2026
The controversy has also raised questions about the company’s code of conduct, which warns employees against personal relationships that could create conflicts of interest. CBS News reported that corporate governance experts believe the alleged relationship could violate the company’s policy.
The report said Nvidia’s 11-member board includes Huang, while the other directors are designated as independent members in a regulatory filing.
Huang co-founded Nvidia in 1993 and has become one of the most prominent figures in the artificial intelligence industry, with the company’s advanced processors powering the development of AI systems.
His possible departure could pose a major challenge for the company, particularly as Wall Street analysts see no obvious successor to replace him, CBS News reported.
“The news is obviously negative, as Jensen is (arguably) the most prominent executive at the most prominent company sitting at the center of the world’s most important industry,” Adam Crisafulli of Vital Knowledge said in a report cited by CBS News.
The controversy is also drawing scrutiny in the US Congress, where lawmakers are expected to question company executives over concerns that Nvidia chips could be reaching China through other countries.
The board of American semiconductor giant Nvidia is reportedly considering the removal of its co-founder and CEO, Jensen Huang, following revelations of two alleged extramarital relationships, including one involving a businesswoman suspected by US intelligence of having links to Chinese intelligence services.
According to The Wall Street Journal, citing people familiar with the matter, Nvidia’s board is preparing to meet as early as Thursday to discuss Huang’s future at the company. The reported developments come amid growing scrutiny of the 63-year-old executive following revelations about his personal relationships and their potential implications for the company.
The New York Times, meanwhile, reported that Huang had an extramarital relationship with Kimberly Powell, Nvidia’s vice president of healthcare, who reports to him. Citing five people who worked at the company, The New York Times said that the relationship had not previously been reported.
According to The New York Times, Huang and Powell, 48, were captured on video behaving affectionately at a hotel in San Jose, California, during an Nvidia conference in March.
Powell joined Nvidia in 2008 and oversees programmes focused on applying the company’s chip technology to higher education and healthcare, particularly medical imaging devices, according to the company’s website.
The reported relationship has also raised questions about Nvidia’s internal workplace policies, with the company’s code of conduct asking employees to “avoid situations where our actions create conflict”, including “personal relationships”.
The company also states that it “promptly investigates reports of misconduct,” The New York Times reported, noting that several corporations have policies restricting relationships between managers and their subordinates.
The latest revelations come after Huang faced scrutiny over another reported relationship with Alice Huang, a Chinese businesswoman and executive associated with Singapore-based data company Megaspeed, a major Nvidia customer. The US intelligence officials had identified the Chinese executive as an alleged Chinese intelligence asset.
The Wall Street Journal reported that the relationship with Alice Huang was the affair Huang acknowledged in a letter to Nvidia employees on Sunday, in which he admitted being unfaithful to his wife and apologised for violating their trust. (ANI)
