Nvidia Board Prepares to Oust Jensen Huang, WSJ Reports

Update (Nov. 11, 2026, 4:30 p.m. PT): Nvidia's board is working with an outside firm to identify possible replacements for Jensen Huang and is weighing whether to name a temporary CEO during the search, Bloomberg reported, citing a person familiar with the matter. The board was meeting on Wednesday to discuss Huang's future, according to the report. Nvidia had not announced a decision at the time of this update.

Nvidia's board is preparing to oust CEO and cofounder Jensen Huang and could meet as soon as Wednesday, Nov. 11, 2026, to decide his future, The Wall Street Journal reported at about 5:30 p.m. ET, citing people familiar with the matter. Reuters, which summarized the report, said it could not immediately verify it, and no board decision had been announced at the time of writing.

The Financial Times also reported, citing people familiar with the matter, that Nvidia's board was set to hold urgent talks about Huang's future on Wednesday. Minutes earlier, The New York Times reported that Huang had an extramarital relationship with Kimberly Powell, Nvidia's vice president of healthcare, while CNBC noted that healthcare is small compared with Nvidia's AI data center GPU business.

Why is Jensen Huang's future under review?

According to Reuters' summary of the WSJ report, Nvidia's board is preparing to oust Huang after he reportedly had two extramarital affairs, including one with a suspected Chinese spy. Reuters said it could not immediately verify the report. The earlier affair, which Huang acknowledged on Sunday, involved Alice Huang, an executive at Singapore-based Megaspeed, a major Nvidia customer, whom US intelligence officials believe was working for Beijing, according to the NYT. China has denied the espionage claims. Nvidia did not immediately respond to Reuters, CNBC or Business Insider requests for comment.

On Nov. 10, the independent members of Nvidia's board said they had retained former acting US Attorney for the Southern District of New York Joon H. Kim and his firm Wachtell, Lipton, Rosen & Katz to run an independent investigation, according to the NVIDIA Newsroom board statement.

For context, we have been tracking the board investigation that followed Huang's Sunday letter to employees, in which he acknowledged being unfaithful to his wife and said there was no excuse for his actions.

Republican leaders of three House committees have also asked Huang for a closed-door briefing, a separate process we are following in our congressional briefing request coverage.

Separately, Axios reported on Nov. 11 that Treasury Secretary Scott Bessent confronted Commerce Secretary Howard Lutnick last week over Commerce not adding Megaspeed to the Entity List, while Commerce denied the confrontation. The issue sits alongside broader scrutiny of Nvidia China chip licenses.

What did the reports say about Powell and Nvidia's rules?

The New York Times reported, citing five people who worked at Nvidia, that Huang had an extramarital relationship with Powell, who reports to him. Two of those people reportedly said the two were seen being affectionate at a San Jose hotel during Nvidia's GTC conference in March. The NYT said it had not seen the reported video.

Nvidia declined to provide a statement to the NYT, and Powell did not immediately respond, according to the report. Reached by phone, Huang told the NYT: "I don't think you should be talking to me directly," then hung up. The NYT also cited Nvidia's code of conduct, which tells employees to "avoid situations where our actions create conflict," including "personal relationships."

How did Nvidia shares react?

Nvidia shares fell about 7% to 8% in after-hours trading on Wednesday after the reports, according to CNBC and Reuters, reversing a 2.9% gain in the regular session. Reuters said Nvidia, which it described as a $4 trillion company, has lost more than $300 billion in market value since news of the Alice Huang affair broke.

Who could replace Jensen Huang?

No successor has been named. According to Bloomberg, the board is using an outside firm to identify candidates and is considering an interim chief executive before choosing a permanent one. Analysts quoted by Newsweek and CFO Dive have floated CFO Colette Kress as a possible interim leader and longtime Nvidia executive Ian Buck as an internal option, but these are outside views, not board decisions.

The board also faces legal pressure. Nvidia and Huang were hit with a proposed shareholder class action in federal court in San Jose on Nov. 9, accusing them of misleading investors about Huang's ties to Alice Huang, Reuters reported.

What should investors watch next?

• Whether Nvidia's board announces a formal decision on Huang's role.
• Whether the board names an interim CEO or a successor.
• Whether the independent investigation provides timing, scope or findings.
• Whether congressional requests lead to a closed-door briefing.
• How customers, partners and investors respond to any leadership change.

What is the analysis for the AI chip market?

Analysis: Huang has led Nvidia since founding it in 1993 and remains the public face of its AI chip dominance. A sudden exit would raise succession questions for customers, partners and investors. However, the board has not confirmed any ouster, and the reports reviewed here did not name a successor.