Nvidia Shares Sink Nearly 8% After Hours as Board Reportedly Prepares to Remove Jensen Huang

Nvidia $NVDA shares plunged nearly 8% in extended trading Wednesday following reports that its board was preparing to consider removing CEO Jensen Huang, potentially erasing more than $330 billion in market capitalization.
The Wall Street Journal reported that directors could meet as soon as Wednesday to determine Huang's future. The development followed a New York Times report alleging that Huang had a relationship with Kimberly Powell, Nvidia's vice president of healthcare, who reports to him.
The new allegations have intensified an existing leadership crisis involving Huang's previously acknowledged extramarital relationship with a woman suspected of having Chinese intelligence connections. Nvidia's independent directors are investigating the circumstances, but no finding that corporate secrets were compromised has been announced.
The after-hours decline reversed the stock's regular-session recovery and highlighted investor concerns about a potential leadership transition at one of the world's largest semiconductor companies. A board meeting or preparation for dismissal does not mean Huang has already been removed, and no final succession decision has been confirmed.