Nvidia shares fall 8% after hours as its board is reportedly preparing to oust CEO Jensen Huang

Nvidia (NVDA) shares fell 8.2% in after-hours trading on Wednesday after The Wall Street Journal reported that the company's board is preparing to oust CEO Jensen Huang.

The board could meet as soon as Wednesday to decide his future, according to the Journal. Its report ties the move to two affairs Huang had outside his marriage. One of them was with a woman U.S. intelligence suspects of spying for China.

The second affair surfaced earlier on Wednesday. The New York Times reported that Huang had a relationship with Kimberly Powell, Nvidia's vice president of health care, who reports to him. Powell joined the company in 2008 and runs its health care business.

According to the Times, a bystander filmed the two being affectionate at a San Jose hotel during Nvidia's developer conference in March. Huang's security team then offered that person a nondisclosure agreement.

Nvidia has not commented on either report. It did not respond to requests from Reuters and CNBC, and Powell did not respond to the Times.

Huang admitted to an affair in a message to staff on Sunday, without naming the woman. He wrote: "I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did."

The board's independent members opened an investigation the same day and have hired Wachtell, Lipton, Rosen & Katz to run it. On Sunday, the board said it had "no reason to believe that either national security or NVIDIA secrets were compromised."

The after-hours drop, as of 5:46 p.m. ET, followed a 2.9% gain in the regular session. At that price, Nvidia was worth about $340B less than at the close.

Nvidia reports third-quarter results on Tuesday, November 17, after the close.

Sources & Further Reading

1. "Nvidia is Preparing to Oust CEO Jensen Huang." The Wall Street Journal. November 11, 2026.
2. "Nvidia is preparing to oust CEO Jensen Huang, WSJ reports." Reuters. November 11, 2026.
3. "Jensen Huang Said to Have Had Relationship With Nvidia Executive Who Reports to Him." The New York Times. November 11, 2026.
4. "Nvidia sinks after report implicates CEO Jensen Huang in 2nd affair." Axios. November 11, 2026.
5. "Nvidia prepares to oust Jensen Huang, WSJ reports — stock sinks further." CNBC. November 11, 2026.
6. "Statement From the Independent Members of the NVIDIA Board." NVIDIA. November 10, 2026.
7. "Nvidia CEO Huang allegedly involved in a second affair with an Nvidia exec." Yahoo Finance. November 11, 2026.
8. "NVIDIA (NVDA) Statistics & Valuation." Stock Analysis. November 11, 2026.