Nvidia shares plunge following reports CEO Huang could be ousted

Nvidia's board of directors is considering removing their co-founder and CEO, Jensen Huang, following allegations of infidelity and potential espionage for China, according to US media reports. The Wall Street Journal and New York Times both reported on the matter, quoting unnamed sources familiar with the situation.

The first alleged affair involves Huang having an extramarital relationship with a woman named Alice Huang, who is accused of spying for China's Ministry of State Security. The New York Times reported that there is video evidence of the 63-year-old CEO being affectionate with Nvidia's vice president of healthcare, Kimberly Powell. Powell is a prominent figure in Nvidia's expansion into education and healthcare sectors and was seen with Huang at a conference in San Jose, California.

Huang had previously acknowledged a relationship with Alice Huang in a note to Nvidia employees, admitting to being unfaithful to his wife. The same day, Nvidia's board announced they had launched an independent investigation into the matter, following reports of Huang being targeted by foreign intelligence efforts.

Nvidia is a leading technology company known for designing advanced graphics processing units (GPUs) originally developed for video gaming. The company's processors are primarily manufactured by Taiwanese firm TSMC, the world's largest contract chip manufacturer. Huang's reputation as a prominent figure in the AI industry has been marred by the allegations, as Nvidia's stock prices have dropped recently in light of the ongoing investigation.