Nvidia shares drop 3% on report of CEO Jensen Huang's alleged affair with VP

Nvidia shares fell about 3% in after-hours trading Wednesday following a report alleging CEO Jensen Huang had an extramarital affair with Kimberly Powell, the company's vice president of healthcare who reports directly to him. The decline adds to weeks of pressure on the AI chipmaker. The report cites five former Nvidia employees claiming Huang, 63, and Powell, 48, both married to others, were seen showing affection at a San Jose hotel during Nvidia's GTC conference in March. A witness allegedly filmed the encounter and was detained by company security, though the publication could not independently verify the video. Nvidia declined to comment, and Powell did not respond to requests. The new allegations come amid an ongoing board investigation into Huang's previously acknowledged relationship with Alice Huang, a Chinese entrepreneur suspected by U.S. intelligence of espionage. Nvidia's code of conduct prohibits conflicts of interest, and many corporations restrict romantic relationships between executives and subordinates. Investors are weighing leadership succession concerns as the company remains central to global AI infrastructure development.