Nvidia Board Prepares to Oust CEO Jensen Huang, Journal Says
Nvidia’s board is preparing to oust chief executive Jensen Huang after two extramarital affairs, including one with a suspected Chinese spy, The Wall Street Journal reported, citing people familiar with the matter.
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The directors were due to meet as soon as Wednesday evening to determine Jensen Huang’s future at the company he co-founded more than three decades ago, people familiar with the matter told The Wall Street Journal.
The session marks a sharp shift from Sunday, when Nvidia’s board expressed confidence in Huang. CNBC confirmed the meeting stretched into Wednesday evening. Nvidia had issued no statement late Wednesday night, the BBC reported.
Directors Weigh His Future
Under Nvidia’s bylaws, Huang can be removed “with or without cause” by a majority vote of the directors. The company has 11 directors and considers all but Huang independent, Reuters said.
On Sunday, Huang told staff: “I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry.”
That acknowledgment involved Alice Huang, an executive at Singapore-based Megaspeed, a major Nvidia customer, the Journal said. U.S. intelligence officials believe she works for China’s intelligence services, an allegation Beijing has rejected and that remains unproven.
Nvidia’s board opened an independent investigation and hired the law firm Wachtell, Lipton, Rosen & Katz to examine the spying allegations.
Times Reports a Second Affair
The Journal’s account landed minutes after The New York Times reported that Huang had also had an extramarital relationship with Kimberly Powell, Nvidia’s vice president of health care, who reports to him.
The Times, citing five people who worked at the company, said Huang and Powell, who are both married, were captured on video being affectionate at a San Jose, California, hotel during Nvidia’s March GTC conference. The newspaper wrote that it had not seen the video.
When a Times reporter asked Huang about Powell on Wednesday, he said, “I don’t think you should be talking to me directly,” and hung up. Nvidia and Powell did not immediately comment, the Times said. Reuters could not immediately verify the report.
Shares Fall After Hours
Nvidia’s stock slid more than 8% in extended trading after the Journal report, Reuters said. If those losses held, the company would have lost about $600 billion in market value since the investigation was announced.
Bloomberg reported that the board has been working with an outside firm to identify potential replacements and is weighing an interim chief. Huang has no obvious successor and owns about 3.6% of Nvidia’s stock, Reuters reported.
President Donald Trump has voiced support for Huang. Huang also faces a potential congressional subpoena if he does not appear for a requested closed-door briefing on the alleged Chinese spy relationship.
Quarterly results are due on Nov. 17.
Kamer Kurunç
Kamer Kurunç is the Team Leader of Clash Report and has led the outlet for four years. He oversees its breaking world news coverage, from the Middle East and the Russia-Ukraine war to defense and global politics. His focus is fast, verified, source-based reporting. Follow him on X at @kamerknc.
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