Nvidia’s board is meeting to decide whether to oust CEO Jensen Huang, a source familiar with the matter told the Reuters news agency, as the world’s dominant supplier of AI processors grapples with reports of two extramarital affairs involving its longtime leader.
The reports mark a sharp escalation in a controversy that began with revelations about Huang’s relationship with Alice Huang, a woman US intelligence has said was involved in facilitating shipments of Nvidia chips to Chinese firms.
In a memo to employees on Sunday, Huang acknowledged being unfaithful to his wife and took “full responsibility,” but gave no details about the relationship.
Huang, 63, has no obvious successor and owns about 3.6% of Nvidia’s stock. He also has dozens of direct reports, underscoring the tight control he maintains over the company.
The company’s shares slid about 8% in after-hours trading after the Wall Street Journal first reported that Nvidia was preparing to oust Huang. Including Wednesday’s after-hours selloff, Nvidia has lost about $600bn in stock market value this week since the board announced its investigation into his relationship with a Chinese businesswoman.
Earlier in the day, the New York Times reported that Huang had also had an extramarital affair with a company executive who reported to him.
