Nvidia Board Reportedly Moves to Remove CEO Jensen Huang

Nvidia's board is reportedly considering whether Jensen Huang should continue as the company's CEO following allegations involving his personal relationships and a possible foreign intelligence operation.

According to reports, the board was preparing to meet on November 11 to discuss his position. The development comes after questions were raised about Huang's personal conduct and possible security concerns linked to the company.

The reports have also affected investor confidence, with Nvidia shares reportedly falling more than 8% in after-hours trading on Wednesday. Huang co-founded Nvidia in 1993 and has led the company for more than three decades. Under his leadership, the company has grown from a graphics chip manufacturer into one of the world's leading suppliers of artificial intelligence (AI) chips. Any change at the top could have an impact on the company's leadership and future plans.

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Board reviews leadership following allegations

According to a report by The Wall Street Journal, Nvidia's board was preparing to discuss Huang's future as CEO. The report followed allegations involving his relationships with two women, including an executive associated with Singapore-based technology company Megaspeed and another senior employee at Nvidia.

Earlier reports linked Huang to Alice Huang, a former executive at Megaspeed, who has reportedly been investigated by US authorities over suspected links to Chinese intelligence. The investigation is connected to concerns that advanced Nvidia chips may have been diverted to Chinese companies despite US export restrictions.

The New York Times also reported that Huang had a relationship with Kimberly Powell, Nvidia's vice president of healthcare, who reports directly to him. The report cited five people familiar with the matter. Neither Nvidia, Huang nor Powell has publicly confirmed the reported relationship.

In a memo sent to employees on November 8, Huang acknowledged being unfaithful to his wife and said he would take responsibility. However, he did not share further details about the allegations.

Nvidia's board had earlier announced an independent investigation into reports that Huang may have been targeted by a foreign intelligence operation. The company also brought in outside legal advisers to assist with the investigation. In a statement issued on November 8, the board said it continued to have confidence in Huang and his leadership team. It also said there was no reason to believe that company secrets or national security had been compromised.

Huang's future raises questions about Nvidia's leadership

Huang's possible departure would be a major development for Nvidia, considering his role in building the company and guiding its growth over the past three decades. Under his leadership, Nvidia expanded beyond gaming graphics processors and became a key supplier to the global AI industry.

The company is now valued at around US$4 trillion, with its chips being used by major technology companies to develop and operate AI models and data centres. Huang has also remained closely involved in the company's business decisions, making the question of succession particularly important.

Nvidia has not publicly identified a clear successor. Chief Financial Officer Colette Kress has been mentioned as a possible interim leader, while other senior executives overseeing its data centre and technology businesses could also be considered for leadership positions.

The developments come ahead of Nvidia's quarterly financial results, scheduled for November 17. Investors will be watching the company's financial performance as well as any updates on its leadership.

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For now, Nvidia has not announced Huang's removal or confirmed that the board has made a decision about his position. The outcome of the reported discussions and the ongoing investigation could have wider implications for the company and the semiconductor industry.