Nvidia’s board is preparing to remove co-founder and chief executive Jensen Huang, The Wall Street Journal reported on Wednesday, November 11, after The New York Times reported a second alleged extramarital relationship, this time with an Nvidia executive who reports directly to him. Nvidia has announced no decision and the reports rest on unnamed sources, so this remains unconfirmed. Shares fell sharply in after-hours trading, and House Republicans said they were ready to subpoena him.

Update, November 13: Nvidia confirmed on November 12 that Huang has resigned as president, chief executive and director, with chief financial officer Colette Kress as interim chief executive. Read our report on Jensen Huang’s resignation and Nvidia’s interim leadership. The text below reflects what was known on November 11.

What was reported on Wednesday

According to the Journal, as summarized by The Verge and TechCrunch, the board could meet as soon as Wednesday to decide whether Huang stays on. CNBC later confirmed a board meeting was under way. The Verge notes the board may act before its own investigation is finished.

The new allegation came from the Times, which cited five Nvidia employees, TechCrunch reports. The executive named by the Times is Nvidia’s vice president of health care, who has run that business since 2017 and reports to Huang, according to CNBC. The Times noted that Nvidia has rules discouraging managers from relationships with subordinates. Nvidia has not commented, and the claim is an allegation, not a finding.

This follows the board’s independent probe, which we covered on Tuesday. On November 10 the independent directors said they had hired former acting US Attorney Joon H. Kim and his firm, Wachtell, Lipton, Rosen & Katz, to run it. That one-sentence statement remains the board’s latest public word.

Market and Washington reaction

Estimates of the after-hours drop varied. The Verge put it at more than 7 percent, TechCrunch (citing CNBC) about 8 percent, and CNBC more than 9 percent. TechCrunch says the stock had already lost about 11 percent over the previous five days. Yahoo Finance reports that Bernstein downgraded the stock to market-perform early on November 12.

TechCrunch reports that Representatives Brian Mast, who chairs the House Foreign Affairs Committee, John Moolenaar, who chairs the House China committee, and Rick Crawford asked Huang about a week earlier to attend a joint closed-door briefing about his relationship with the Megaspeed executive. Moolenaar told Fox Business that Huang had until the end of Wednesday to respond and would likely be subpoenaed if he declined. Mast said a subpoena was being prepared.

Yahoo Finance relays a report from The Information that the Megaspeed executive is believed to be connected to a network of Chinese companies that helped move about $7.5 billion of Nvidia chips into China. That claim is unproven. Our earlier coverage of H200 approvals and the Megaspeed memo explains why buyer vetting was already under scrutiny. In its November 8 statement, the board said it had no reason to believe national security or Nvidia secrets were compromised.

Who could lead Nvidia, and what customers face

Succession is the open question. TechCrunch notes that Huang has about 60 direct reports and delegates very little, and that Nvidia has had no obvious successor or public succession plan. Bloomberg reports the company is working with an outside firm to identify CEO candidates. Among insiders, TechCrunch says analysts most often mention chief financial officer Colette Kress, along with Ian Buck, who helped build CUDA.

Jensen Huang, seated and gesturing, at a Stanford University event
Jensen Huang at Stanford in April 2026; he has led Nvidia since co-founding it in 1993. Photo: Anderseidesvik / Wikimedia Commons, CC BY-SA 4.0

For customers, nothing in the reporting suggests a change to products, roadmaps or supply. The risk is to direction and dealmaking: Huang has personally driven the software strategy described in our explainer on the CUDA moat, the China lobbying and the big partnership deals. A new chief executive, or prolonged uncertainty, could slow those decisions.

What to watch next

  • Whether Nvidia’s board announces a decision on Huang, and who would lead the company in the interim.
  • Whether Huang agrees to the closed-door House briefing or receives a subpoena.
  • Findings and timing of the Wachtell-led independent investigation.
  • How the stock trades once regular-session trading opens on November 12.
  • Any new statement from Nvidia addressing the second allegation.

Key takeaways

  • The Wall Street Journal reports Nvidia’s board is preparing to oust Jensen Huang; Nvidia has not confirmed this.
  • The New York Times reported a second alleged affair, with a vice president who reports to Huang.
  • Nvidia shares fell roughly 7 to 9 percent after hours, depending on the report.
  • House Republicans set a Wednesday deadline for Huang to agree to a briefing and say a subpoena is ready.
  • Nvidia has no public succession plan, and Bloomberg says an outside firm is helping identify candidates.

Frequently asked questions

Has Nvidia fired Jensen Huang?

Nvidia announced on November 12 that Huang resigned as chief executive and director, effective immediately. When this story was first published, the Wall Street Journal had reported only that the board was preparing to remove him.

What is the second allegation?

The New York Times reported that Huang had a relationship with an Nvidia vice president who reports to him, citing five employees. Neither Nvidia nor the executive has commented, and the claim is unverified.

Why is Congress involved?

House Republicans want Huang to brief them on his relationship with a Megaspeed executive whom US officials reportedly suspect of spying for China. Megaspeed has been linked to concerns about Nvidia chips reaching China.