Nvidia Board of Directors Meets to Discuss Future of CEO Jensen Huang

The Nvidia board of directors is holding a critical meeting to determine the future of CEO Jensen Huang. The company is facing a difficult situation due to allegations that Huang had two separate extramarital affairs, with one of these relationships potentially linked to a foreign intelligence operation.

In a note sent to employees on Sunday, Huang admitted to infidelity but did not provide details on the matter. The allegations include a relationship with a woman who reportedly facilitated chip shipments to Chinese firms, and a second relationship with Kimberly Powell, the vice president of Nvidia's healthcare division. The company's management continues to investigate whether Huang was targeted by foreign intelligence.

The ongoing controversy has negatively impacted Nvidia's market value; the company has lost approximately $600 billion in value this week, and shares fell between 7.5 and 8 percent in after-hours trading. U.S. President Donald Trump expressed his support for Huang, describing him as an honorable individual. Despite this, there is talk of a congressional subpoena if Huang does not testify behind closed doors.

Huang, who co-founded Nvidia in 1993, has a net worth of $155 billion according to the Bloomberg Billionaires Index and holds approximately 3.6 percent of the company's shares. Allegations that U.S. Secretary of Commerce Howard Lutnick slowed down President Trump's pressure on companies shipping chips to China also form another dimension of the debate.