Nvidia’s board is reviewing CEO Jensen Huang’s future amid allegations about his personal life and concerns over U.S. national security. (Foto: Instagram)
Nvidia’s board met Wednesday, Nov. 11, to consider whether Jensen Huang should remain at the helm of the chipmaker, a major force in the expansion of artificial intelligence. The discussion comes amid allegations about the CEO’s personal life and concerns raised about possible risks to U.S. national security. Nvidia has not announced a decision about Huang’s position, and the company had not issued an official statement on the possibility of his removal.
Pressure on Huang grew after The New York Times reported that he had a new extramarital relationship, this time with Kimberly Powell, president of Nvidia’s health care division. The newspaper said the two were seen in an intimate situation at a hotel in San Jose, California, during a company conference in March. Huang had acknowledged being unfaithful to his wife in a message to employees, but denied knowing of any possible connection between Alice Huang, a businesswoman with whom he was said to have had a relationship, and the Chinese government. Alice Huang is under investigation on suspicion of acting as an intelligence agent for Beijing.
The allegations have also affected Nvidia shares. After reports circulated that the company was preparing to remove Huang, the stock fell more than 8% in after-hours trading. If the losses are borne out, Nvidia may have lost about $685 billion in market value since the company announced an internal investigation into Huang’s relationship with the businesswoman. That figure is an estimate, and the reported decline was tied to the possibility that the CEO could be ousted.
Under Nvidia’s internal rules, a majority vote of its 11-member board can remove the CEO. This week, independent directors hired the law firm Wachtell, Lipton, Rosen & Katz to conduct what was described as an independent and comprehensive investigation into the case. Nvidia had expressed confidence in Huang’s leadership on Sunday, Nov. 8, but further information has increased scrutiny of his continued tenure. The board’s review and the law firm’s investigation are taking place as the company faces pressure over both leadership and the allegations.
Huang’s possible departure would pose a challenge for Nvidia, which he founded in 1993 and which has become central to the global artificial intelligence industry. Its chips are used to train AI models and support major technology companies, including OpenAI, Anthropic and Google. Nvidia’s market value exceeds $4 trillion, and the company has no clear successor for Huang, who has substantial influence over strategy and product development. He also owns about 3.6% of Nvidia’s shares.
President Donald Trump voiced support for Huang, saying he had done extraordinary work leading Nvidia. Other prominent figures in technology, including Elon Musk, also expressed solidarity with the CEO. Separately, Democratic Sens. Elizabeth Warren and Chris Coons asked the Trump administration to preserve documents related to Nvidia chip exports to China. The senators said the episode raises questions about enforcement of trade restrictions and the protection of U.S. national security. Nvidia is scheduled to report financial results on Nov. 17, as it occupies a key position in the technology competition between the United States and China.
