Nvidia shares fell in after-hours trading Wednesday after reports of board discussions over CEO Jensen Huang’s future added market uncertainty to an ongoing investigation into reports that a foreign intelligence effort targeted its CEO.
A Nov. 11 report by The Wall Street Journal said removal was under consideration at Nvidia, citing people familiar with the discussion. CNBC separately said its reporting found directors were meeting to discuss whether Huang should stay.
The Journal tied its account to allegations of two extramarital relationships: one with an Nvidia employee and another with a woman suspected of having links to Chinese intelligence. A separate Times account named Nvidia health care vice president Kimberly Powell as the woman involved with Huang. That report does not establish Powell was the employee mentioned by the Journal; Nvidia’s public statements have not identified either woman or confirmed the alleged intelligence links.
CNBC put Nvidia’s after-hours decline at more than 9%; The Associated Press later reported an 8.6% loss. Neither account gave a quote time that can be matched to the other. The Associated Press also said concern over Nvidia’s leadership weighed on AI-related stocks in Asian trading.
Nvidia’s board said Nov. 8 that independent directors were opening an inquiry into reports that a foreign intelligence effort had targeted Huang. The directors said the reports provided no basis to conclude that U.S. national security or Nvidia’s proprietary information had been harmed, and expressed confidence in Huang and his leadership team. In a Nov. 8 message to employees, Huang acknowledged infidelity and said he would cooperate with the investigation.
On Nov. 10, independent directors selected former acting U.S. attorney Joon H. Kim and Wachtell, Lipton, Rosen & Katz to handle the inquiry. EconoTimes previously covered the board’s appointment of outside counsel.
Nvidia has not publicly announced a leadership change. Nvidia’s fiscal 2027 third quarter closed Oct. 25; results are scheduled for discussion during a Nov. 17 call at 5 p.m. ET (2 p.m. PT).
