SAN FRANCISCO — Nvidia’s board met on Wednesday to consider whether to remove co-founder and chief executive Jensen Huang, as the world’s leading supplier of artificial-intelligence chips faces an escalating leadership and governance crisis following reports of two extramarital relationships involving the longtime executive.

The board meeting, reported by Reuters citing a source familiar with the matter, marks a dramatic turn for the $4 trillion semiconductor company. Huang, 63, has led Nvidia for more than three decades, transforming it from a graphics-chip maker into the central supplier of processors powering the global artificial-intelligence boom.

However, the reported meeting does not mean Huang has been removed. As of Thursday, November 12, Nvidia had not publicly announced a change in leadership. The company did not immediately respond to Reuters’ request for comment on the board meeting.

Two Reports Put Huang’s Leadership Under Pressure

The controversy first intensified after reports about Huang’s relationship with Alice Huang, a businesswoman whom U.S. intelligence officials have reportedly suspected of helping facilitate shipments of Nvidia chips to Chinese companies. The allegations have raised questions about possible foreign influence and the company’s exposure to sensitive technology-export issues. The espionage allegations have not been publicly established as fact, and China has rejected claims of this nature as smears.

Nvidia’s board subsequently launched an independent investigation into whether Huang had been targeted by a foreign intelligence operation or whether company information had been compromised. The review is being overseen by independent directors with outside legal counsel. Nvidia has said it has no reason to believe that national security or company secrets were compromised.

The situation escalated further on Wednesday after The New York Times reported that Huang had also been involved in an extramarital relationship with a company executive who reported to him. The newspaper identified the executive as Kimberly Powell, Nvidia’s vice president of healthcare, and cited five people who had worked at the company. Reuters said it could not immediately verify the report. Nvidia and Powell did not immediately respond to requests for comment.

In a memo to employees over the weekend, Huang acknowledged being unfaithful to his wife and said he took full responsibility, Reuters reported. The company’s board had previously expressed confidence in his leadership while announcing its investigation.

Nvidia Faces A Leadership Succession Challenge

Any decision to remove Huang would create a major succession challenge. He co-founded Nvidia in 1993 with Curtis Priem and Chris Malachowsky and has remained the company’s dominant public face and strategic leader. His ownership stake is about 3.6%, and he is known for maintaining close relationships with major customers, suppliers, governments and technology partners.

Reuters reported that Nvidia has no clear succession plan. Chief Financial Officer Colette Kress and senior data-centre executive Ian Buck have been mentioned by analysts as possible interim leadership candidates, although neither has Huang’s public profile or his record of shaping the company’s long-term strategy.

The uncertainty is especially significant because Nvidia’s influence extends well beyond selling chips. Its products, CUDA software platform and financing relationships have helped shape the infrastructure supporting major AI developers and data-centre operators. A leadership change could raise questions about investment commitments, product road maps, supplier relationships and the pace at which Nvidia supports the wider AI ecosystem.

Investor Anxiety Sends Shockwaves Through Chip Stocks

Markets reacted sharply to the possibility of Huang’s departure. Nvidia shares fell about 8% in after-hours trading at one point following the Wall Street Journal report that the board was preparing to oust him. Reuters reported that the company had lost roughly $600 billion in market value during the week as the controversy unfolded.

The sell-off also affected companies connected to Nvidia’s AI ecosystem, including data-centre operators and other technology firms. Shares of rival chipmakers Advanced Micro Devices and Broadcom rose in after-hours trading, as some investors considered whether competitors could benefit from uncertainty surrounding Nvidia.

Analysts have cautioned, however, that a change at the top would not automatically erase demand for Nvidia’s processors. Its advanced graphics processing units remain central to many AI computing systems, and near-term sales are supported by products already in production and large customer investment plans. The bigger question may be whether a successor can maintain Huang’s strategic direction and the relationships that have helped Nvidia dominate the market.

Congressional And China-Export Questions Add To The Crisis

The controversy is also unfolding amid scrutiny of U.S. restrictions on advanced semiconductor exports to China. Democratic senators have urged the Trump administration to preserve documents related to Nvidia chip exports, while Huang could face pressure to provide lawmakers with information about the allegations and the company’s dealings in the region.

That political dimension makes the board’s task more complicated. Directors must consider not only the company’s internal policies and reputation but also investor confidence, regulatory exposure and the potential implications for U.S. technology policy. Nvidia’s board has the authority under the company’s governance rules to remove its chief executive through a majority vote of its 11 directors.

Why Jensen Huang’s Future Matters To The AI Industry

Huang’s influence on Nvidia has made the leadership question an industry-wide concern. The company is a critical supplier to businesses building AI models, cloud infrastructure and large-scale data centres. Its decisions on chip availability, product launches, software development and strategic investments can affect the plans of customers and partners across the technology sector.

Reuters analysis noted that investors are concerned not only about Nvidia’s immediate revenue but also about whether the company would continue to finance and support parts of the AI ecosystem at the same pace without Huang. The company has made substantial financial commitments and developed close partnerships with manufacturers and data-centre operators, making continuity of strategy a major issue for the board.

For now, the central question remains unresolved: whether Nvidia’s directors believe the allegations and the resulting governance concerns are serious enough to justify a change in leadership. Until the board communicates a decision and the independent review establishes its findings, reports about Huang’s possible removal should be treated as an unfolding corporate crisis rather than a completed leadership transition.

Listen: Reuters Morning Bid Podcast

Reuters discussed the leadership turmoil and its market implications in its Morning Bid podcast, titled “Jensen hangs on as Nvidia tumbles.” The episode examines the board meeting, the pressure on Huang, the market reaction and the wider implications for technology stocks and the AI investment boom.

Listen to the Reuters Morning Bid podcast and read the accompanying market briefing.

Sources And Further Reading

Photo: Jensen Huang at Stanford University on April 30, 2026. Photo by Anders Eidesvik, licensed under Creative Commons Attribution-ShareAlike 4.0. Cropped for publication.