Nvidia's board is meeting late Wednesday to consider removing chief executive Jensen Huang, as reports of two extramarital affairs and an investigation into alleged links to a Chinese spy fuel a market sell-off and raise questions about the chipmaker's leadership.
Nvidia's board is meeting late Wednesday to decide whether to oust CEO Jensen Huang, a source familiar with the matter told Reuters, as the world's dominant supplier of AI chips grapples with reports of two extramarital affairs involving its longtime leader.
Nvidia did not immediately respond to a request for comment on the board meeting.
The meeting marks a sharp shift from Sunday, when Nvidia's board expressed confidence in Huang and his leadership team. Under Nvidia's bylaws, Huang can be removed "with or without cause" by a majority vote of directors. Nvidia has 11 directors and considers all but Huang independent.
Nvidia's stock slid more than 8% in extended trading after the Wall Street Journal first reported that the company was preparing to fire Huang. If those losses hold, Nvidia will have lost about $600 billion in market value since the board announced its investigation into his relationship with a businesswoman called Alice Huang, alleged to be a Chinese spy.
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