The AI chipmaker faces growing uncertainty following reports about its CEO's personal relationships, an independent investigation and renewed concerns over corporate governance.

November 11, 2026 — Nvidia shares dropped sharply in after-hours trading Wednesday following a report that the company's board of directors is preparing to consider removing longtime CEO Jensen Huang.

According to The Wall Street Journal, Nvidia's directors could meet as early as Wednesday to discuss Huang's future at the artificial intelligence chipmaker.

The report emerged shortly after The New York Times published allegations concerning a personal relationship between Huang and another Nvidia executive, adding to scrutiny already surrounding the CEO.

Nvidia shares fell more than 9% at one point during extended trading, according to CNBC, before the reported decline narrowed to approximately 7.9%.

The developments have raised questions about leadership stability at one of the world's most influential technology companies.

Nvidia Board Reportedly Weighing CEO's Future

The Wall Street Journal reported that Nvidia's board was preparing to discuss whether Huang should remain chief executive.

The report did not establish that directors had reached a final decision or that Huang's departure was certain.

Huang has become closely associated with Nvidia's transformation into a dominant supplier of advanced processors used in artificial intelligence.

His leadership has helped position the company at the center of the global AI infrastructure boom.

Consequently, the possibility of a leadership transition has attracted significant attention from investors.

Any change at the top of Nvidia would represent a major development for a company whose products are central to AI computing, data centers and advanced graphics technology.

New Report Raises Questions About Executive Relationship

The leadership uncertainty intensified after The New York Times reported that Huang had an extramarital relationship with Kimberly Powell, Nvidia's vice president of healthcare.

According to the newspaper, Huang and Powell were reportedly photographed displaying affection at a hotel in San Jose, California, in March.

The account has not been independently verified here, and the supplied report does not establish whether the alleged relationship violated any Nvidia policy.

Powell joined Nvidia in 2008 and has led its healthcare business since 2017.

Her responsibilities include overseeing the company's healthcare technology initiatives involving accelerated computing, artificial intelligence, medical imaging, life sciences and drug discovery.

CNBC reported that Nvidia and Powell had not immediately responded to requests for comment.

A crisis communications firm reportedly associated with Huang also did not immediately respond.

Separate Allegations Prompt Independent Investigation

The latest reports follow another controversy involving Huang's previously reported personal relationship with a woman identified as Alice Huang.

According to reporting attributed to The Financial Times and The New York Times, U.S. intelligence officials suspect that Alice Huang has connections to China's Ministry of State Security.

Those suspicions remain allegations and should not be treated as an established finding that she engaged in espionage.

CNBC reported that Nvidia's board had initiated an independent investigation into the intelligence-related concerns.

The company reportedly retained the law firm Wachtell, Lipton, Rosen & Katz to assist with that review.

The investigation has brought additional attention to questions involving corporate governance, potential security risks and the responsibilities of senior executives at strategically important technology companies.

Jensen Huang Apologizes to Nvidia Employees

In a message sent to Nvidia employees on Sunday, Huang acknowledged being unfaithful to his wife and expressed regret over the impact on his family.

He apologized for his conduct and accepted personal responsibility.

The statement followed growing public scrutiny of his private life and the reports involving potential national security concerns.

However, the apology does not, by itself, establish the accuracy of every allegation contained in subsequent media reports.

At the time of CNBC's reporting, Nvidia had not publicly confirmed a decision to remove Huang as chief executive.

Nvidia Stock Falls as Investors React

The possibility of leadership changes triggered an immediate market reaction.

CNBC reported that Nvidia shares initially declined more than 9% in after-hours trading on November 11.

A later extended-hours quotation showed the stock at approximately $160, down $13.73, or 7.9%, from its regular-session closing price of $173.73.

<box border radius="lg" padding={3} gap={2}> <text color="secondary" weight="medium" size="xs">NVDA — REPORTED NOVEMBER 11, 2026</text> <grid columns={2} gap={3}> <grid-item> <text color="secondary" size="xs">Regular-session close</text> <title size="xl" tabularNums>$173.73</title> </grid-item> <grid-item> <text color="secondary" size="xs">Reported after-hours price</text> <title size="xl" tabularNums>$160.00</title> </grid-item> </grid> <row align="center" gap={2}> <icon name="trending-down" color="danger"/> <title size="lg" color="danger" tabularNums>−7.90%</title> <text color="secondary" size="xs">Extended-hours change</text> </row> <caption>Historical figures from the supplied CNBC report, not a live stock quotation.</caption> </box>

The selloff came during an already challenging period for Nvidia shares.

According to the report, the stock had declined approximately 7% during the week and was heading toward its sixth consecutive weekly loss.

Investor concerns also extended beyond the leadership controversy.

Questions about the sustainability of massive AI infrastructure investments have weighed on technology stocks, while the political environment following the U.S. midterm elections has created additional uncertainty for data center development.

Why Jensen Huang's Leadership Matters

Huang has become one of the most recognizable executives in the global technology industry.

Under his leadership, Nvidia developed into a major supplier of graphics processing units, or GPUs, that power artificial intelligence training and computing workloads.

Its processors are widely used by companies developing advanced AI systems and expanding data center infrastructure.

Huang's public presence has also become closely connected to Nvidia's identity.

He regularly represents the company at major technology conferences, product launches and industry events.

Because of that association, investors may view uncertainty surrounding his position as a significant leadership risk.

A potential transition could raise questions about succession planning, strategic continuity and the company's relationships with major customers.

Nevertheless, the Wall Street Journal report describes a possible board decision rather than a completed leadership change.

Nvidia's Healthcare Business Comes Under Attention

The allegations involving Powell have also drawn attention to Nvidia's healthcare division.

Although healthcare represents a smaller portion of Nvidia's overall business than AI infrastructure and GPUs, the company has invested in technologies designed to support medical research and clinical applications.

Its healthcare initiatives include tools for medical imaging, pharmaceutical research, drug discovery and data analysis.

Powell has frequently discussed how AI computing can help accelerate scientific research and improve healthcare operations.

The New York Times report has brought additional scrutiny to her professional relationship with Huang.

However, the supplied reporting does not establish that Powell's appointment or professional responsibilities resulted from an improper arrangement.

Corporate Governance Questions Could Shape Nvidia's Next Steps

The developing situation places Nvidia's board under pressure to address concerns about leadership and oversight.

Directors may need to consider the findings of the independent investigation, the company's internal policies and the potential consequences of any leadership decision.

For shareholders, several questions remain unresolved.

Will Huang continue as CEO? What conclusions will investigators reach? And how will Nvidia reassure customers and investors about its long-term stability?

The answers could influence market confidence in the coming days.

At the same time, Nvidia remains a major participant in the global AI industry, with its technology playing an important role in the expansion of computing infrastructure.

The company's operational performance and long-term business outlook will remain important alongside the current leadership controversy.

What Happens Next?

Attention is now focused on Nvidia's board and whether the company will issue an official statement addressing Huang's future.

The independent investigation may also provide additional information about the allegations and any potential implications for corporate governance.

Until the company announces a decision, reports that Huang could be removed should be understood as an unconfirmed potential development.

Investors will also be watching Nvidia's stock performance as the market evaluates the possible impact of leadership uncertainty.

Final Thoughts

Nvidia is facing a period of heightened scrutiny following reports about Jensen Huang's personal conduct, a separate intelligence-related investigation and the possibility of a leadership change.

The market reaction demonstrates how closely investors associate Huang with the company's success in artificial intelligence.

However, the allegations and reported board deliberations remain distinct from any confirmed decision to replace him.

For now, the central question is whether Nvidia's board will retain Huang as CEO or pursue a leadership transition at one of the world's most influential AI technology companies.

The outcome could have significant implications for investor confidence, corporate governance and Nvidia's next chapter.