Reported relationship with a direct report deepens the spy probe fallout and puts executive conduct and CEO succession in focus
Nvidia's board of directors is preparing to oust co-founder and CEO Jensen Huang after he had two extramarital affairs, including one with a woman US intelligence officials believe is a Chinese spy, The Wall Street Journal reported. The board was preparing to meet as soon as Wednesday, US time, to determine Huang's future.
The report landed minutes after The New York Times reported that Huang had a relationship with Kimberly Powell, Nvidia's vice president of health care, who reported to him. Powell joined Nvidia in 2008 and leads the company's worldwide health care business, according to her company bio. The Times reported the pair were captured on camera being affectionate at a hotel in San Jose, California, in March 2026.
Nvidia shares fell about 8 per cent in after-hours trading following the reports, according to CNBC.
From board confidence to potential exit
The second reported relationship shifts the story from a personal and national security matter to a workplace one. A romantic relationship between a CEO and a subordinate raises questions about conflicts of interest, favouritism and the integrity of reporting lines.
The reported move marks a sharp turn from the board's position just days earlier. On 8 November, Huang told staff in an internal letter: "I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry."
That affair involved Alice Huang, an executive at Singapore-based data company Megaspeed, a major Nvidia customer. US intelligence officials believe she works for China's Ministry of State Security, according to reporting by the Financial Times and The New York Times.
The same day, the board launched an independent investigation, stating in its official statement to investors that it "has confidence in Jensen and his leadership team". It later hired law firm Wachtell, Lipton, Rosen & Katz to lead the probe, CNBC reported.
HRD's earlier coverage of the Nvidia spy probe and succession gap noted that Huang had said he would remain CEO while the investigation proceeded.
What Huang's exit would mean for succession planning
Nvidia has no publicly named successor. The company runs a flat structure built around Huang, with dozens of direct reports. Wedbush Securities analyst Dan Ives estimated Nvidia's valuation could fall 25 to 30 per cent if Huang left as CEO, according to Yahoo Finance's live coverage.
For Australian HR leaders, the case is a reminder that leadership continuity needs attention long before a crisis hits – a lesson HRD examined in what a US giant's spectacular collapse teaches employers about succession planning.
