Nvidia board reportedly weighs removing CEO Jensen Huang
Nvidia's board has reportedly discussed whether to remove its co-founder, while an independent law firm investigates his relationships and the company's shares drop.
Key points
- Nvidia's board reportedly met to decide whether to remove CEO Jensen Huang, according to multiple reports.
- Huang reportedly had a separate affair with a company executive, Kimberly Powell, as reported by the New York Times.
- Nvidia shares fell more than 8% in after-hours trading on Wednesday.
- A law firm is investigating Huang's relationship with Alice Huang, a businesswoman accused of being a Chinese spy.
- Huang has no obvious successor, and the company is reportedly working with an outside firm to find candidates.
Nvidia’s board of directors reportedly met on Wednesday to consider whether to remove Jensen Huang as chief executive of the chipmaker. Several reports say the board is weighing the decision, but the company has not confirmed any change in leadership. Huang co-founded Nvidia in 1993 and has led it for more than 30 years.
The discussions follow a difficult week for the company. On Sunday, Nvidia’s board said it had confidence in Huang and his management team. That position appears to have changed quickly. Huang admitted in an email to employees that he had a relationship with a businesswoman who is alleged to be a Chinese spy, and he said he would cooperate with an internal inquiry.
Read also: Nvidia brings in Wachtell to probe CEO Jensen Huang’s conduct
Later on Wednesday, the New York Times reported that Huang also had a separate extramarital affair with Kimberly Powell, a company employee. The newspaper said Powell, who served as Nvidia’s healthcare president, appeared in footage that reportedly showed her showing closeness toward Huang at a March hotel event tied to the company. The Wall Street Journal also reported that the company was preparing to fire Huang, according to the same reporting cycle.
Market reaction and investigation
Nvidia’s shares slid more than 8% in after-hours trading. If those losses hold, the company would have lost about $685bn, or £516bn, in market value since the board announced its inquiry into Huang’s relationship with Alice Huang. Nvidia is one of the most valuable companies in the world, with a market value above $4tn.
The board’s independent directors have appointed the law firm Wachtell, Lipton, Rosen and Katz to carry out what they describe as a thorough and independent investigation. The firm has told Huang to keep leading the company while that work continues. Under Nvidia’s bylaws, a majority vote of the directors can remove Huang with or without cause.
Alice Huang is an executive at Megaspeed, a datacentre firm based in Singapore that uses Nvidia chips. On Thursday, Taiwan’s Mainland Affairs Council minister, Chiu Chui-cheng, said she had visited Taiwan eight times in 2024 and 2025. He said there were no special warnings about her at the time. That New York Times account stated that Washington had urged Taipei, back in 2024, to keep track of where she traveled.
Leadership and wider impact
Huang is widely seen as the driving force behind Nvidia’s growth. He has about 60 direct reports, a structure that puts a great deal of control in his hands. Analysts say he has no obvious successor, and Bloomberg has reported that the company is working with an outside firm to identify possible candidates.
The stakes extend beyond one company. Nvidia designs the chips used to train AI models, and many major AI businesses depend on them. Analysts quoted in the reports said a leadership change could come at a sensitive time, as competition between the United States and China over artificial intelligence grows more intense.
Support for Huang has come from some high-profile figures. US President Donald Trump has praised him and called him an honourable man. Elon Musk, asked on X whether he would hire Huang if he lost his job, replied that it would be an honour. Neither comment changes the board’s process.
What is still unclear
Many key points remain unconfirmed. The reports on the board’s deliberations come from unnamed sources and news outlets, and Nvidia has not announced a decision. It is also not clear whether the Chinese spy allegation has been proven, as the sources say the claim has not been established. Investors and staff will likely wait for the outcome of the independent investigation before knowing what happens next.
Related: Nvidia investigates CEO Jensen Huang over alleged spy affair
Frequently asked questions
Has Nvidia removed Jensen Huang as CEO?
No confirmed decision has been announced. Multiple reports say the board met to consider whether to remove him, but the company has not confirmed any change.
Why is Nvidiau0026#039;s stock falling?
Shares fell more than 8% in after-hours trading after reports about Huangu0026#039;s personal relationships and a possible board decision on his future. The losses were not yet confirmed as lasting.
Who is Alice Huang?
Alice Huang is an executive at Megaspeed, a Singapore-based datacentre firm that uses Nvidia chips. She has been accused of being a Chinese spy, but the reports do not confirm this claim.
Sources
- The Guardian: Nvidia board reportedly deciding whether to oust CEO Jensen Huang as stock price plunges
- TechCrunch: Nvidia’s stock drops as board reportedly preps to oust CEO Jensen Huang
This article was written with the help of AI from reports by the outlets listed above. See our Editorial Policy. Spotted a mistake? Tell us.
