Nvidia shares sank more than 8% in extended trading Wednesday after a New York Times report alleged a second affair involving CEO Jensen Huang, and the sell-off carried into Thursday's premarket session, with the stock down 7% ahead of the opening bell.

A separate report from The Wall Street Journal said Nvidia's board is preparing to decide whether to remove Huang, who co-founded the company in 1993 and has served as its chief executive ever since. Deliberations over removing a founder-CEO are among the most consequential governance decisions a public board can face, and the unresolved question of Huang's future now sits atop Nvidia's agenda.

Second Alleged Affair Reported

According to the Times, Huang had a romantic relationship with Kimberly Powell, an Nvidia executive who has worked at the company since 2008. The report said the two were seen being affectionate at a hotel during a company conference in March.

News of the alleged relationship spread rapidly on social media:

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

How the Week Unfolded

The new report follows a scandal that erupted 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. The chief executive admitted the affair in a memo to employees, writing that he had been unfaithful to his wife and that his actions had hurt her and their children.

The Information reported Tuesday that Alice Huang is believed to be part of a network of Chinese companies, and that the network helped ship $7.5 billion in chip sales to China, according to the report.

On Sunday, Nvidia's board said it had no reason to believe that national security or company secrets had been compromised. President Donald Trump called Huang “an honorable guy,” and said Monday that the FBI was looking into the relationship. Other members of the president's party are expected to place additional scrutiny on the company.

With the board weighing Huang's future, the FBI review President Trump described, and further scrutiny expected from within the president's party, the leadership question remains unresolved heading into Thursday's session.

Market Reaction

Nasdaq-100 futures (NQ=F) fell 0.92% in early Thursday trading, after major indexes had risen Wednesday. S&P 500 futures lost 0.45%, while Dow Jones Industrial Average futures added 12 points.

Wednesday's regular session had been notably stronger. The Dow rose nearly 255 points, or 0.5%, the S&P 500 gained 1.3%, and the Nasdaq Composite climbed 1.6%. The gains were driven by a rebound in Nvidia and a jump in CoreWeave following its quarterly earnings. CoreWeave reported better-than-expected results and raised its revenue outlook, though its shares slipped 7.2% in premarket trading Thursday.

Advanced Micro Devices rose 3% before the open, and Broadcom was seen rising 2.5%.

Sameer Samana of Wells Fargo Investment Institute said investors should stay selective, citing stubborn inflation, the possibility of additional Federal Reserve rate hikes, and higher long-term interest rates.

In Asia, Japan's Nikkei 225 fell 0.70%. South Korea's Kospi, where Nvidia suppliers Samsung and SK Hynix carry heavy weight, declined 0.61%. Hong Kong's Hang Seng dropped 1.43%, and China's CSI 300 lost 0.78%. Australia's S&P/ASX 200 closed flat.

On Thursday's economic calendar, investors are set to receive weekly jobless claims data at 8:30 a.m. ET, followed by existing home sales at 10 a.m. — fresh readings on the labor market and housing that investors often weigh against the Federal Reserve's policy path.

Related: Nvidia (NVDA) Stock Drops 8% After Hours as Board Weighs Jensen Huang's Future • CoreWeave (CRWV) Stock Surges 25% After Q3 Beat and Cheaper Financing Plan

This article was first published by CoinCentral.