TLDR
- Nvidia shares fell more than 8% in extended trading after a New York Times report on a second alleged affair involving CEO Jensen Huang.
- The Wall Street Journal reports the board is preparing to decide whether to remove Huang.
- Huang is already under investigation over a relationship with Alice Huang, who is alleged to be a Chinese spy.
- Nasdaq-100 futures fell 0.92% early Thursday, after major indexes rose Wednesday.
- Nvidia shares were down 7% in premarket trading Thursday.
Nvidia shares fell after hours Wednesday after a New York Times report on a second alleged affair involving CEO Jensen Huang. The Wall Street Journal also reported that the board is preparing to remove him.
Nvidia CEO Jensen Huang allegedly has a second affair on top of the suspected Chinese spy.
He also had a romantic relationship with Kimberly Powell, someone who worked at Nvidia since 2008, according to a New York Times report. pic.twitter.com/QJRTnJb8c6
— Pubity (@pubity) November 11, 2026
Shares were down more than 8% in extended trading. They fell 7% in premarket trading Thursday.
The Times report says Huang had a relationship with Nvidia executive Kimberly Powell. It says the two were seen being affectionate at a hotel during a company conference in March.
How the week unfolded
The new report follows a scandal that began earlier this week. Huang is already under investigation over a relationship with a woman named Alice Huang, who is alleged to be a Chinese spy.
Huang admitted the affair in a memo to employees. He wrote that he was unfaithful to his wife and that his actions hurt her and their children.
The Information reported Tuesday that Alice Huang is believed to be part of a network of Chinese companies. The report says the network helped ship $7.5 billion in chip sales to China.
On Sunday, Nvidia’s board said it had no reason to believe national security or company secrets were compromised.
President Donald Trump called Huang “an honorable guy.” Trump also said Monday that the FBI was looking into the relationship.
Other members of the president’s party are expected to put more scrutiny on the company.
Market reaction
Nasdaq-100 futures fell 0.92% early Thursday. S&P 500 futures lost 0.45%, while Dow Jones Industrial Average futures added 12 points.
Wednesday’s regular session had been stronger. The Dow rose nearly 255 points, or 0.5%, and the S&P 500 gained 1.3%.
The Nasdaq Composite rose 1.6%. Gains came from a rebound in Nvidia and a jump in CoreWeave after earnings.
CoreWeave reported better-than-expected results and raised its revenue outlook. Its shares were down 7.2% in premarket trading Thursday.
Advanced Micro Devices rose 3% before the open. Broadcom was seen rising 2.5%.
Sameer Samana of Wells Fargo Investment Institute said investors should stay selective. He pointed to stubborn inflation, more possible Fed rate hikes and higher long-term interest rates.
In Asia, Japan’s Nikkei 225 fell 0.70%. South Korea’s Kospi, which is dominated by Nvidia suppliers Samsung and SK Hynix, fell 0.61%.
Hong Kong’s Hang Seng fell 1.43%, and China’s CSI 300 lost 0.78%. Australia’s S&P/ASX 200 closed flat.
Investors will get jobless claims data at 8:30 a.m. ET Thursday. Existing home sales follow at 10 a.m.
