The company’s shares fell 8.6 percent in after-hours trading after The New York Times first reported on the relationship with Powell and The Wall Street Journal reported that Nvidia’s board of directors could oust Huang.
Futures tracking the tech-heavy Nasdaq 100 also fell about 1 percent in overnight trading.
Huang’s departure from Nvidia, until recently the most valuable company in the world, would have far-reaching consequences for the artificial intelligence industry and the US stock market.
Nvidia’s deals, including extensive equity investments in AI companies and more complex financial guarantees, have made it a central player in the financial boom surrounding the technology. Meanwhile, its semiconductors are critical for training and running AI models from companies like OpenAI and Anthropic.
News of a second relationship has increased pressure on Huang, who is already under intense scrutiny for his relationship with Alice Huang, an executive at a Singapore-based Nvidia client called Megaspeed.
US intelligence officials believe Alice Huang had been recruited by the spy agency of China’s Ministry of State Security.
Donald Trump said Monday that the FBI was investigating the situation, but supported Huang, calling him “a high-quality person.” The president and the Nvidia boss have established a close relationship since Trump returned to the White House, making Huang an influential voice in US artificial intelligence policy.
Senior Republicans and Democrats have called for Congress to investigate the head of Nvidia, who has pushed to allow American companies to sell more advanced artificial intelligence chips to China. When asked on X if he would hire Jensen Huang,
Elon Musk, CEO of Tesla, responded: “That would be an honor.” Nvidia’s board of directors will hold urgent talks about the future of its founder Jensen Huang after revelations that he had an affair with a top company executive, according to people familiar with the matter.
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