Nvidia's board is reportedly holding a meeting to decide whether to remove chief executive Jensen Huang, according to a source familiar with the situation who spoke to Reuters. Huang's potential departure would leave a leadership vacuum at the chipmaker, valued at approximately $4 trillion, which he co-founded.
Nvidia shares fell around eight per cent in after-hours trading after the Wall Street Journal first reported that the company was preparing to replace Huang. Including that drop, Nvidia has lost around $600 billion in market value this week since the board announced an investigation into Huang's relationship with a Chinese businesswoman.
Reports of two extramarital affairs involving Huang mark a sharp escalation of the controversy that began with revelations about his relationship with Alice Huang. US intelligence agencies stated that Alice Huang was involved in facilitating shipments of Nvidia chips to Chinese companies. In a memo to employees on Sunday, Huang admitted to being unfaithful to his wife and took "full responsibility", but did not provide details about the relationship. Huang is 63 years old and holds around 3.6 per cent of Nvidia's shares, with dozens of direct reports under him.
Earlier the same day, the New York Times reported that Huang had also had an extramarital affair with a company executive who was subordinate to him. Democrats and Republicans in the US Congress are calling for an investigation into US chip exports and political decisions connected to Huang, the Wall Street Journal reported. Senators Elizabeth Warren and Chris Coons asked the Donald Trump administration to preserve all documentation related to the export of Nvidia chips to China or Huang's affair with the alleged Chinese intelligence agent, the Journal wrote. The request was sent in a letter to Commerce Secretary Howard Lutnick, Secretary of State Marco Rubio and White House Chief of Staff Stephen Miller.
John Moolenaar, chairman of the House Committee on the Chinese Communist Party, told Fox Business on Wednesday that "subpoenas will likely be issued" for Huang to appear on Capitol Hill if he does not respond by the end of the day to a request to meet with lawmakers. Moolenaar, House Foreign Affairs Committee Chairman Brian Mast and Intelligence Committee Chairman Rick Crawford sent a letter to Huang last week requesting a closed-door meeting about Nvidia's security protocols and Huang's interactions with Alice Huang, the businesswoman accused of spying for China. Moolenaar told Fox Business that Republican lawmakers want to know if Beijing could have accessed "privileged information" and whether it could have influenced US national security policy.
Donald Trump said on Monday that he was "shocked" after revelations about Jensen Huang – one of his closest allies in Silicon Valley – came to light. On 9 November, Trump stated that Huang told him he had no idea the woman was a spy and that he believed him. "I asked him: 'Did you have any idea she was a spy?' He said: 'I had no idea she was a spy', and I really believe him", Trump said. He added: "I know the FBI is investigating... I think it will be fine."
Over the past two years, Huang has expressed support for Trump's AI agenda and met with the Republican leader many times as Nvidia sought to sell advanced chips in the Chinese market and lobbied for looser restrictions on Chinese access to Nvidia's sophisticated AI chips. In May 2026, Huang was among a delegation of tech executives who joined Trump during his visit to China and meeting with Xi Jinping, as the Republican leader urged Beijing to "open up" to American business. In September, as the administration and AI companies faced growing scrutiny over advanced artificial intelligence risks, Trump announced that Huang was among the tech executives who signed a voluntary security pact and supported the expansion of data centres. Trump said the pact was "morally binding", which drew criticism that it was "toothless" regulation.
