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Nvidia shares plunged more than 8% in after-hours trading as its board met to consider removing CEO Jensen Huang, Reuters reported. The meeting followed a New York Times report alleging an extramarital affair between Huang and Kimberly Powell, Nvidia's vice president of healthcare, who reported directly to him.
Why it matters
The allegations put leadership at the world's leading AI chipmaker under scrutiny. They follow earlier allegations involving a businesswoman whom U.S. intelligence suspected of ties to Chinese espionage.
Market impact
The after-hours share decline shows the immediate pressure on Nvidia. On Polymarket, the odds of Huang resigning or being removed by year-end briefly reached 88%. The prediction-market price reflects traders' bets, not a decision by Nvidia's board.
Frequently asked questions
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What prompted Nvidia's board to consider removing Jensen Huang?
Reuters reported that the board was meeting after The New York Times reported allegations of an extramarital affair between Huang and Nvidia healthcare vice president Kimberly Powell.
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What was Kimberly Powell's reporting relationship with Huang?
Powell, Nvidia's vice president of healthcare, reported directly to Huang.
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How did Nvidia shares react after hours?
Nvidia shares plunged more than 8% in after-hours trading.
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What did the 88% Polymarket odds measure?
The odds measured traders' bets that Huang would resign or be removed by year-end. They briefly reached 88% and do not represent a board decision.
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What earlier allegations were mentioned alongside the report?
The report followed earlier allegations involving a businesswoman whom U.S. intelligence suspected of ties to Chinese espionage.
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