Nvidia's board is meeting to decide whether to oust Jensen Huang
SummaryThe Wall Street Journal first reported the board is preparing to remove the co-founder and CEO. Reuters, the Washington Post and CBS News confirmed the board's moves with their own sources. Nvidia shares fell 8.6% after hours.
· MODEL Editors · 2 min read
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What happened. On Wednesday, Nov. 11, The Wall Street Journal reported that Nvidia's board is preparing to oust co-founder and CEO Jensen Huang, and could meet as soon as that day to decide his future. Other outlets then confirmed the board's moves with their own sources: Reuters (opens in a new tab) said the board was meeting Wednesday to decide whether to oust Huang, citing a source familiar with the matter; the Washington Post (opens in a new tab) said the board would weigh his future at a meeting late Wednesday, citing two people; and CBS News (opens in a new tab) said the board is preparing to oust him soon, citing two sources.
What Nvidia has said. As of 6 p.m. PT Wednesday, Nvidia had not announced a decision or commented on the meeting. On Sunday, Nov. 8, the board said (opens in a new tab) it was opening an independent investigation "in light of recent reporting" that Huang had been the target of a foreign intelligence effort, that it had "no reason to believe" national security or Nvidia secrets were compromised, and that it had confidence in Huang. On Tuesday, Nov. 10, the independent directors said (opens in a new tab) they had retained former acting U.S. Attorney for the Southern District of New York Joon H. Kim and his firm, Wachtell, Lipton, Rosen & Katz, to run it.
Huang's own words. In a Sunday memo to staff, Huang wrote: "I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did," adding, "I am deeply sorry." He did not name the woman. China's foreign ministry has called the spying allegations baseless.
Why it matters. Huang co-founded Nvidia in 1993 and built it into the main supplier of chips for the AI boom. Reuters reports he is 63, owns about 3.6% of the stock and has no obvious successor.
Congress. On Nov. 5, the chairs of the House China, Foreign Affairs and Intelligence committees (Reps. John Moolenaar, Brian Mast and Rick Crawford) asked Huang (opens in a new tab) to brief them behind closed doors on Nov. 18, and to accept or offer another date by Nov. 11. Moolenaar said Wednesday that if Huang doesn't agree or propose another date, there will "likely be subpoenas," Reuters reported (opens in a new tab). We found no public reply from Huang as of 6 p.m. PT.
The stock. $NVDA closed Wednesday at $173.73, up 2.9%. After the reports, it fell to $158.78 in after-hours trading, down 8.6% from the close (last after-hours trade, 8 p.m. ET; checked 6 p.m. PT).
What we left out. Single-source reporting that we could not confirm elsewhere, including details of a second relationship and reports on how the board is searching for a replacement.
Our take. The company at the center of the AI chip race could soon be run by someone other than its founder, and no successor has been named. Watch for a board statement.
Disclosure: Not investment advice. Not sponsored. No affiliate links.
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Sources
- Nvidia board meets to decide CEO Huang's future, source says
Reuters (via Investing.com)
- Nvidia board weighs fate of CEO Jensen Huang after affair with alleged Chinese spy
The Washington Post
- Nvidia's board preparing to oust CEO Jensen Huang, sources say
CBS News
- Nvidia prepares to oust Jensen Huang, WSJ reports
CNBC
- Nvidia's stock drops as board reportedly preps to oust CEO Jensen Huang
TechCrunch
- Statement from NVIDIA Board of Directors (Nov. 8, 2026)
NVIDIA
- Statement From the Independent Members of the NVIDIA Board (Nov. 10, 2026)
NVIDIA
- Moolenaar, Mast, and Crawford Seek Briefing from Jensen Huang
House Select Committee on the CCP
- House Republicans push for Nvidia's Huang to testify, float subpoena over spy allegations
Reuters (via Yahoo News)
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