Nvidia's board is preparing to remove Jensen Huang as chief executive, The Wall Street Journal reported on November 11, after revelations that the Taiwan-born co-founder had two extramarital affairs: one with a woman U.S. intelligence officials suspect of spying for China, and one with a senior Nvidia executive.
Directors planned to meet as early as November 11, U.S. time, to decide his future, the Journal said, citing people familiar with the matter. A separate source told Reuters the meeting was taking place that day. Nvidia had not announced a decision as of publication.
The prospect of losing the executive who turned Nvidia into the engine of the AI boom hit the stock at once. Shares slid about 8% in after-hours trading, extending a selloff that Reuters estimates has erased roughly $600 billion of the company's market value this week.
Two Affairs Put Nvidia's Founder Under Pressure
Huang, 63, admitted in a November 8 letter to employees that he had been unfaithful to his wife, and he apologized for breaking the trust of his family and staff. The Journal identified that relationship as one with Alice Huang, also known as Huang Le, a former executive at the Singapore data company Megaspeed, which has been a major Nvidia customer. U.S. intelligence officials believe she works for China's intelligence services, according to the Journal. She is not related to Jensen Huang.
Citing a person familiar with the matter, the Journal also reported that Huang had an affair with Kimberly Powell, the Nvidia executive who leads the company's healthcare business. The New York Times first reported that relationship. Powell did not respond to requests for comment.
Megaspeed, one of several companies building AI data centers in Southeast Asia with Nvidia chips, has been under Commerce Department investigation since late 2024 over suspected diversion of chips to China. The Justice Department now leads several investigations involving Alice Huang, the Journal reported. In October, an Nvidia spokesman said there was nothing "unusual or unexpected" about the relationship.
Alice Huang has since gone back to China and is living in Beijing with the knowledge of security officials, Bloomberg reported on November 12, citing a person familiar with the matter. Beijing has denied that she is a spy.
No Succession Plan At The World's Top AI Chipmaker
Removing Huang would leave Nvidia hunting for a leader with no clear heir in place. He has about 60 direct reports and has long rejected formal succession planning, arguing that leaders should pass on knowledge continuously instead. Nvidia's own proxy statement warns that failing to plan for succession could hurt its strategy and long-term performance.
Huang is also Nvidia's largest shareholder, with about 3.6% of the company. His close ties to President Donald Trump have shaped U.S. chip policy: Trump approved Nvidia chip shipments to China despite security concerns and adopted many of Huang's positions, decisions lawmakers are now scrutinizing. Earlier this week, Trump stood by Huang, calling him an "honorable man" and saying Huang had told him he did not know Alice Huang was a suspected spy.
Scandal Hits Close To Home In Taiwan
For Taiwan, Huang's birthplace and the manufacturing hub of the global chip industry, the crisis is personal. Huang is regularly mobbed by fans when he visits the island, and an image published with the Journal's report shows Alice Huang at a dinner he hosted in Taipei in 2025.
