Nvidia reportedly preparing to oust Jensen Huang as CEO amid espionage controversy

Nvidia could be facing its biggest leadership shake-up in decades. According to a new Wall Street Journal report, the company's board is preparing to remove co-founder and CEO Jensen Huang following revelations about two extramarital relationships, one involving a woman suspected of having ties to Chinese intelligence. Jensen is still CEO, but his fate could be decided soon.  

The board was expected to meet as early as Wednesday, November 11, to determine Huang's future. Reuters has independently reported that the meeting was taking place, citing a person familiar with the matter. However, no decision to remove Huang has been confirmed.

The controversy began after reports emerged about Huang's relationship with Alice Huang, a businesswoman associated with Singapore-based data company Megaspeed. US intelligence officials reportedly suspect her of having links to Chinese intelligence and facilitating shipments of Nvidia chips to Chinese companies. These allegations have not been independently established.

Huang acknowledged being unfaithful to his wife in a message to employees earlier this week. The New York Times later reported a separate relationship involving Kimberly Powell, Nvidia's vice president of healthcare, who reports to Huang.

The developments have rattled investors. Nvidia shares fell approximately 8% in after-hours trading following the Wall Street Journal report. His potential departure would leave Nvidia searching for a successor at a pivotal moment, given its central role in the global AI industry.