Nvidia’s board preparing to oust CEO Jensen Huang, sources say

Nvidia’s board of directors is preparing to oust CEO Jensen Huang soon, according to two sources familiar with the matter, following allegations that Huang had an extramarital affair with a woman U.S. intelligence agencies believe was a Chinese asset. The Trump administration is aware of the matter, the sources said. The Wall Street Journal was first to report on the board’s moves. Nvidia’s share price slid more than 8% in after-hours trading Wednesday after the Journal’s report, extending a multi-day sell-off for one of the world’s most valuable publicly traded companies. The company has faced days of turmoil following reports that American intelligence agencies believed Huang was the target of a Chinese spying plot. Nvidia was co-founded by Huang in 1993, and for years it was best known for designing graphics cards widely used for gaming.

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