Nvidia shares plunge following reports CEO Huang could be ousted

NEW YORK: Nvidia shares plunged on Wednesday following media reports that the US chipmaker's board was considering removing chief executive Jensen Huang, reported German news agency dpa.

On Sunday, Nvidia said it had launched an investigation into reports that Huang had become the target of "foreign intelligence efforts."

There had been media reports suggesting that Huang had been having an affair with a woman whom US security circles believed had been recruited by the Chinese secret service.

Huang confirmed in an email to Nvidia staff that he had been having an affair.

The Wall Street Journal, citing unnamed sources, reported that the Nvidia board could meet shortly to decide on Huang's future. The New York Times also reported on Wednesday that Huang allegedly had another affair with a staff member who reported to him. According to the report, Huang and Nvidia initially declined to comment.

Shares of the chipmaker fell by as much as 9 per cent in after-hours trading, their lowest level since mid-2025.

Nvidia is a key player in the artificial intelligence (AI) boom. Chips from the Santa Clara-based company in Silicon Valley dominate data centres when it comes to training and operating AI.

Huang has made a name for himself as the face of the AI revolution - at company conferences and other public appearances, he tirelessly extols the world-changing role of AI in all areas of life.