Nvidia shares fall 8% as board reportedly considers ousting Jensen Huang

• The board was reportedly discussing Jensen Huang's future as CEO.
• One alleged relationship involved Alice Huang, an executive at Nvidia customer Megaspeed.
• Nvidia's CEO also reportedly had a relationship with healthcare executive Kimberly Powell.
• The Justice Department is leading multiple investigations involving Alice Huang.

Nvidia shares fell around 8% in after-hours trading following reports that the company's board is considering removing CEO Jensen Huang after a second alleged extramarital affair with an employee emerged.

As reported by the Wall Street Journal, the affair that kicked off the scandals involves Alice Huang, an executive at Singapore-based data company Megaspeed, a major Nvidia customer.

US intelligence officials believe she may be working for Chinese intelligence services. Nvidia's CEO has also been accused of having a relationship with Kimberly Powell, a senior Nvidia executive who leads its healthcare business.

The latest report follows Jensen Huang's admission in a letter to staff that he had been unfaithful to his wife. 

The 63-year-old co-founder owns approximately 3.6% of Nvidia and has led the chipmaker through the global AI boom.

Leadership concerns

The US Justice Department is now leading multiple investigations involving Alice Huang, according to people familiar with the matter.

Jensen Huang's potential departure would leave Nvidia facing questions about its leadership succession.

The CEO has previously said he does not believe in succession planning, while the company's latest proxy statement warning that its reliance on its longstanding executive team creates potential risks.