Nvidia Board Reportedly Weighs Removing Jensen Huang
Nvidia’s board is preparing to remove Chief Executive Jensen Huang, The Wall Street Journal reported Wednesday, November 11, following reports of two extramarital relationships. Shares fell more than 9% in after-hours trading, according to the supplied CNBC report. Directors could meet Wednesday to determine his future, the Journal said.
The report followed allegations published by The New York Times that Huang had a relationship with Kimberly Powell, Nvidia’s vice president of healthcare. The newspaper reported that the two were filmed being affectionate at a San Jose hotel in March. The supplied article said Nvidia and Powell had not immediately responded to requests for comment.
The developments follow Huang’s acknowledgment of marital infidelity in a message to employees on November 8. Earlier reporting identified another woman involved as Alice Huang, a business executive whom U.S. intelligence officials reportedly suspected of gathering information for China. The intelligence allegations remain distinct from Huang’s admission of an affair.
Nvidia’s board has opened an independent investigation and, according to the supplied report, retained Wachtell, Lipton, Rosen & Katz. Huang apologized to his wife, children and colleagues. The account did not report completed findings from the investigation or an announced board decision on his continued employment as chief executive.
Powell has led Nvidia’s healthcare business since 2017. The division develops computing technologies used in medical imaging, drug discovery and healthcare analytics. Although smaller than Nvidia’s principal AI businesses, the unit has featured in company presentations describing applications for accelerated computing across medicine and life sciences, according to the supplied article.
The leadership uncertainty comes amid weakness in Nvidia shares and concerns about spending on AI infrastructure, the supplied report said. Huang has been central to the company’s expansion. Any leadership change would place succession alongside the investigation among the board’s immediate responsibilities.