• A CBS News (NYSE:SKYD) reporter said on X that the Trump administration is aware that Nvidia (NASDAQ:NVDA)'s board of directors is preparing to oust CEO Jensen Huang very soon.
  • Nvidia's board will meet on Wednesday to decide whether to oust CEO Jensen Huang, according to a source, though no final decision or official announcement has been confirmed.
  • Prediction markets now price a 57% chance Huang leaves before July 2027, and 71% before 2033.
  • Nvidia's board has opened an independent investigation, but no findings of misconduct or compromised secrets have been announced.

Nvidia Board Meeting Wednesday to Decide Whether to Oust CEO Jensen Huang

Nvidia’s board will meet on Wednesday to decide whether to oust CEO Jensen Huang, according to a source, following revelations of two extramarital affairs, including one involving a suspected Chinese intelligence operative. No final decision or official announcement has been confirmed. The Wall Street Journal (NASDAQ:NWSA) reported on November 11 that Nvidia is preparing to oust CEO Jensen Huang, according to people familiar with the matter. The report says his future is in question, but it also notes that Nvidia’s board has expressed confidence in him while investigating his conduct. That is materially different from a confirmed decision or plan to remove him. No replacement CEO or completed leadership transition has been identified in the reporting reviewed, and the board has not publicly indicated who would succeed Huang.

Trump Administration Aware of Board's Plan to Oust Huang

A CBS News reporter said on X that the Trump administration is aware that Nvidia's board of directors is preparing to oust CEO Jensen Huang very soon. The post did not specify when a removal might occur or who would succeed Huang, and it did not indicate that the administration had ordered or endorsed the move. The report adds to signs that Huang's tenure is under threat, but it does not establish that he has already been removed.

Fresh Allegations Rock Nvidia

Nvidia CEO Jensen Huang is facing renewed pressure after The New York Times (NYSE:NYT) reported a second alleged affair, this time with Kimberly Powell, Nvidia's vice president of health care, who reports directly to him. The report, published on November 11, cited five people familiar with the company. Two former employees described purported video showing affectionate behavior, though the newspaper said it had not viewed the footage. The allegation raises potential conflicts-of-interest questions but is not an announced finding of misconduct.

The new report compounds an already volatile situation. On November 8–10, Nvidia opened an independent investigation after Huang acknowledged being unfaithful. The board's independent directors subsequently announced that former federal prosecutor Joon Kim and law firm Wachtell, Lipton, Rosen & Katz would conduct the review. The board said it had "no reason to believe" national security or Nvidia secrets had been compromised, while emphasizing that it would examine available information.

Prediction Markets Signal Rising Departure Risk

Prediction markets have reacted sharply to the developments. Contracts on Kalshi now price a 57% chance that Huang leaves before July 2027, with a 71% probability before 2033. These figures should be treated as a timestamped market snapshot rather than a verified forecast. Earlier reporting showed materially lower near-term probabilities, illustrating how quickly prices have moved. The contracts concern departure for any qualifying reason—not necessarily dismissal over this controversy—and the 2033 deadline incorporates ordinary retirement and succession risk.

Federal Scrutiny Intensifies

The controversy has attracted attention from Washington. President Donald Trump said on November 9 that the FBI was investigating. Republican leaders of three House committees have also requested a closed-door briefing with Huang. These developments do not establish that Huang knowingly assisted espionage or violated export controls. The earlier controversy concerns Alice Huang, a former executive at Singapore-based Nvidia customer Megaspeed—not Kimberly Powell. According to reporting cited by AP, U.S. intelligence officials believed Alice Huang was gathering information for Beijing. China denies the espionage allegations. Huang's acknowledgment of infidelity does not itself confirm those intelligence claims.

Business Fundamentals Remain Strong

The governance crisis unfolds against a backdrop of exceptional financial performance. Nvidia reported quarterly revenue of $96.2 billion for its fiscal second quarter ended July 26, 2026, up 106% year over year and 18% sequentially. Data-center revenue reached $89.0 billion, up 117% year over year, while quarterly profit was $59.69 billion. For fiscal 2026, revenue totaled $215.9 billion, up 65%. The financial backdrop is therefore strong operating growth alongside a leadership crisis—not a reported collapse in customer demand.

Market Reaction and Implications

Investors have taken notice. Nvidia shares fell approximately 4% on November 9 and another 5.47% on November 10 as the controversy intensified. Those moves preceded the November 11 report about Powell, so they should not be attributed to that second allegation. The main economic risk is uncertainty around leadership and government access. Nvidia's chips power AI training and deployment across global data centers, making continuity important to customers' infrastructure plans. A prolonged investigation could complicate executive decision-making and customer confidence, but the sources reviewed do not establish resulting order cancellations or delivery disruptions.

The two allegations raise different concerns and should not be conflated. Employees may question reporting-line power and consistent enforcement of workplace rules. The Times quotes Nvidia's code of conduct warning against personal relationships that create conflicts. That does not establish coercion, harassment or a confirmed policy breach. Shareholders are focused on board independence, the completeness of executive disclosures and succession preparedness.

What's Next

The most consequential next developments are the investigation's findings, whether its scope explicitly includes the Powell allegation, Huang's congressional engagement, and any official explanation of the FBI's work. The board's stated position remains that Huang continues as CEO and that it has no reason to believe secrets were compromised. Three conditional paths are plausible: continued leadership with tighter oversight, a managed succession, or more severe legal or regulatory consequences. These are scenarios, not reported decisions. The evidence reviewed does not establish which will occur. The key distinction is that Nvidia's extraordinary sales growth and its governance crisis can coexist.