Nvidia board weighs ousting CEO Jensen Huang amid spy allegations
Nvidia's board is meeting Wednesday to consider removing CEO Jensen Huang following reports of extramarital affairs and an investigation into alleged links to a Chinese spy, triggering an 8% stock drop in extended trading and a potential $600 billion market value loss. The board's shift from Sunday's confidence vote comes as US intelligence probes Huang's relationship with businesswoman Alice Huang, allegedly a Chinese spy facilitating chip shipments to Chinese firms. Under Nvidia's bylaws, Huang can be removed by majority vote of the 11 directors, with no obvious successor identified. Huang, 63, owns about 3.6% of Nvidia and maintains tight control with dozens of direct reports. CFO Colette Kress is seen as interim CEO candidate, while prediction markets show 88% odds of Huang's departure by year-end. Quarterly results are due November 17.