Nvidia stock drops 8% after report of CEO's second affair

Nvidia shares fell about 8.3 percent in after-hours trading Wednesday, dropping below $160, after The New York Times reported CEO Jensen Huang had a second affair. The stock had not traded at that level since June 2025. The report detailed Huang's affair with Kimberly Powell, Nvidia's vice president of health care, citing five company employees. This follows a prior report of an affair with Alice Huang, whom U.S. intelligence believes is a Chinese spy. The Wall Street Journal reported the board is preparing to oust Huang, with a meeting possible as soon as Thursday. Huang, who founded Nvidia in 1993 and is a Trump ally, acknowledged being "unfaithful" to his wife of 41 years. The stock had hit an all-time high of $243.37 on Oct. 6, and lawmakers have cited the first affair to justify restricting chip exports, though Trump has defended Huang.