Nvidia’s board is preparing to remove CEO Jensen Huang following reports about his personal relationships, including an alleged affair with a suspected Chinese spy, according to The Wall Street Journal (WSJ).
According to the report, the board was preparing to meet as soon as Wednesday to decide Huang’s future at the company. The reported move comes as Nvidia faces growing questions about its leadership and an investigation into whether Huang was targeted by a foreign intelligence operation.
Reports of two affairs
The WSJ reported that Huang had two extramarital affairs, including one with a suspected Chinese spy. The report has added to the growing controversy surrounding the Nvidia chief and his personal relationships.
Earlier on Wednesday, The New York Times reported that Huang had an affair with a company executive who reported directly to him. The newspaper identified the executive as Kimberly Powell, Nvidia’s vice president of healthcare, citing five people who had worked at the company.
Also Read: Jensen Huang had affair with Nvidia VP who reports directly to him: Report
The reports emerged days after Huang acknowledged being unfaithful to his wife. Nvidia’s board is also investigating whether he was targeted by a foreign intelligence operation.
Questions have also been raised about Huang’s reported relationship with another woman, Alice Huang. US intelligence officials have said she facilitated shipments of Nvidia chips to Chinese companies.
Nvidia shares fall
The reports have also affected Nvidia’s stock. The company’s shares fell about 9% in after-hours trading on Wednesday, according to Bloomberg.
Nvidia has already lost more than $300 billion in market value since news of the reported affair with Alice Huang first emerged. Investors are now watching closely for any official statement from the company about its CEO’s future.
Leadership questions grow
Huang’s possible departure could create a major leadership gap at Nvidia, which has become one of the world’s most valuable companies, with a market value of around $4 trillion.
The company plays a major role in the global artificial intelligence industry. Its chips are widely used to train AI models and run services such as OpenAI’s ChatGPT.
Nvidia is also at the centre of the technology competition between the United States and China. Any change at the top could draw attention from investors and the wider technology industry.