Shares of Nvidia fell sharply in after-hours trading on Wednesday after reports emerged that the company’s board was meeting to discuss the future of Chief Executive Officer Jensen Huang.
The developments followed a report by The New York Times alleging that Huang had an extramarital relationship with an Nvidia executive who reportedly reported directly to him.
CNN reported that Nvidia’s board was meeting Wednesday evening to discuss Huang’s position, citing two people familiar with the matter. The Wall Street Journal had earlier reported that the board was preparing to remove him.
Nvidia shares fell by more than 8% in after-hours trading as investors reacted to the reports, raising concerns about the leadership of the company, which Huang co-founded in 1993.
The latest allegations add to an existing controversy surrounding the CEO. On Sunday, Huang acknowledged being unfaithful to his wife in a message to Nvidia employees, while the company announced an independent investigation into reports that he may have been targeted by a foreign intelligence effort.
Those earlier reports involved Alice Huang, an executive at Singapore-based technology company Megaspeed. US officials have reportedly suspected her of links to Chinese intelligence, allegations that have not been independently established.
Nvidia has not immediately commented on the latest reports concerning the board meeting or the alleged relationship with the company executive.
Huang has led Nvidia for more than three decades, making the question of his potential departure significant for investors as the company remains a major player in the global artificial intelligence industry.
