Nvidia board weighs CEO Jensen Huang's future as stock drops 7%

Nvidia shares fell 6.6% in premarket trading Thursday after the company's board met to discuss removing CEO Jensen Huang over reported extramarital affairs, including one with a direct report. Huang admitted Sunday to an affair with Alice Huang, an executive at cloud company Megaspeed, whom U.S. intelligence officials believe is a spy for China. The New York Times reported Wednesday he also had a relationship with Kimberly Powell, Nvidia's vice president of health care. Analysts warn his removal could trigger a 20% stock drop. Bernstein slashed its price target on Nvidia from $400 to $200, citing the difficulty of retaining Huang given the alleged affair with a subordinate. Lawmakers have called for his resignation, and investors note the lack of a succession plan makes the stock "uninvestable." Nvidia shares are already down over 20% in the past month.