Nvidia (NVDA) Stock Drops 8% After Hours as Board Weighs Jensen Huang’s Future
TLDR
- Nvidia (NVDA) stock fell 8% to $159.76 after hours, erasing a 2.9% gain from the regular session.
- The Wall Street Journal reports the board is preparing to oust CEO Jensen Huang.
- Huang admitted to an affair, and the New York Times reports a second one with an Nvidia executive.
- Huang has said he does not believe in succession planning, and no successor has been named.
- The board could meet as soon as Wednesday.
Nvidia (NVDA) stock fell 8% to $159.76 in after-hours trading on Wednesday. That wiped out a 2.9% gain from the regular session.
The drop followed a Wall Street Journal report that the board is preparing to oust CEO Jensen Huang. The report cites people familiar with the matter.
BREAKING: Nvidia, $NVDA, CEO Jensen Huang reportedly had another affair with a senior Nvidia employee, per NYT.
The relationship was reportedly with Kimberly Powell, Nvidia’s VP of Health Care who reports to Jensen Huang.
Witnesses claim that Jensen Huang’s security detained a…
— The Kobeissi Letter (@KobeissiLetter) November 11, 2026
Directors are weighing his future after two reported extramarital affairs. One involves a suspected Chinese spy.
How the Story Reached the Boardroom
On Sunday, Huang told employees in a letter that he had been unfaithful to his wife. “My actions hurt her and our children,” he wrote.
BREAKING: 🇺🇸 Nvidia CEO Jensen Huang had a second affair with VP of Health Care Kimberly Powell, per the New York Times. pic.twitter.com/OyeMo2Xq1S
— Bull Theory (@BullTheoryio) November 11, 2026
He also confirmed the board had opened an independent investigation into national security concerns raised in news reports. He pledged to cooperate fully and said he remained committed to the company.
One affair involved Alice Huang, an executive at Megaspeed. The Singapore-based data company is a major Nvidia customer.
U.S. intelligence officials believe she works for China’s intelligence services. The Justice Department is now leading multiple investigations involving her.
The New York Times reported a second affair, with Kimberly Powell, who runs Nvidia’s healthcare business. The Times cited five people who worked at the company, and Powell did not respond to requests for comment.
No Clear Plan for What Comes Next
Huang is 63 and owns about 3.6% of Nvidia. That makes him the company’s largest shareholder.
He has roughly 60 direct reports. He has also said he does not believe in succession planning.
It is not clear who would take over. Nvidia’s latest proxy statement says the company is “highly dependent” on its longstanding executive team.
The same filing warns that weak succession planning could hurt strategy, execution and long-term success.
The Times first reported the business link between the two Huangs in October 2025. Megaspeed was among several companies using Nvidia chips for AI data centers in Southeast Asia, and the Commerce Department had been investigating it since late 2024.
President Trump stood by Huang earlier this week. He called him an “honorable man” and said Huang told him he did not know Alice Huang was a suspected spy.
Trump approved Nvidia chip shipments to China, a decision now under scrutiny from lawmakers and other officials. The board could meet as soon as Wednesday to decide Huang’s future.