Jensen Huang dreamed up Nvidia in a Denny's booth; now he could be ousted as CEO

Nvidia's board of directors is meeting on Wednesday to discuss whether to remove CEO Jensen Huang, according to a source familiar with the situation. The world's leading provider of AI processors is grappling with reports of two extramarital affairs involving Huang, who co-founded the company over three decades ago and built it into a dominant force in the artificial-intelligence boom.

Huang, 63, owns about 3.6% of Nvidia's stock and has direct control over the company, but there is currently no clear successor in place. The board's investigation, which includes an independent probe, could lead to a leadership vacuum at the roughly $4 trillion chipmaker. If Huang is found to have broken company policies, the board is expected to act swiftly.

Nvidia's shares have lost billions in market value this week, with a 8% drop in after-hours trading reported after the Wall Street Journal first reported the potential ouster. Huang has denied any wrongdoing but acknowledged being unfaithful to his wife, causing a backlash against the tech giant and its rivals like AMD and Broadcom.