Nvidia shares plunge on report board plans to oust CEO Jensen Huang

Nvidia shares plunged over 8% in after-hours trading Wednesday after The Wall Street Journal reported the board is preparing to remove CEO Jensen Huang, following an investigation into his conduct. The probe, launched Nov. 8, centers on Huang's admitted extramarital affair and his ties to Alice Huang, a Chinese business executive suspected by U.S. intelligence of being a state security asset. Nvidia's market value has dropped over $450 billion since the investigation began. Huang, who co-founded Nvidia in 1993, apologized to his wife and children in a Sunday message, acknowledging "there is no excuse for what I did." Corporate governance experts say the relationship appears to violate Nvidia's code of conduct on ethical standards and conflicts of interest.