Nvidia's Board Is Preparing to Oust CEO Jensen Huang, Per WSJ
The End of the Founder Era, on the Calendar
The most powerful executive in the AI boom may be down to his last board meeting.
Nvidia's board is preparing to oust CEO Jensen Huang, its founder and chief executive, per the Wall Street Journal. The board is planning to meet as soon as Wednesday to determine his future, people familiar with the matter said.
The move follows two extramarital affairs: one with Alice Huang, the Megaspeed executive suspected by the US government of working for Chinese intelligence, and another with an Nvidia employee who reports to him, first reported by the New York Times. On Sunday, Huang acknowledged in a letter to staff that he had been unfaithful to his wife and apologized for violating his family's and his employees' trust.
No Successor, by Design
The succession problem is the story inside the story. Huang, who has roughly 60 direct reports, has said he does not believe in succession planning. It was not immediately clear who would succeed him.
Nvidia's own latest proxy statement warns that the company is "highly dependent on the services of our longstanding executive team" and that a failure to ensure effective succession planning could "hinder our strategic planning, execution, and long-term success." That risk factor, boilerplate for three decades, is now the central question hanging over a company worth trillions.
Around the boardroom, the pressure is compounding. The Justice Department is leading multiple investigations involving Alice Huang. House lawmakers may subpoena Huang to brief them next week. Top Democrats have sent document preservation letters covering the administration's Nvidia-China records, and senior Republicans, including Larry Kudlow and Senator Kevin Cramer, have publicly called for Huang to go.
Options and Market Impact
The tape delivered its verdict before the board could. Nvidia shares fell about 8% in after-hours trading on the Journal's report, extending a slide that already cut 4.27% off the stock on Monday, a roughly $190 billion single-day erasure. Bettors on Polymarket put 77% odds on Huang leaving his position, by resignation or removal, by year end.
For options traders, Nvidia is now a binary event book: a board decision, a possible subpoena, and a November 18 congressional briefing deadline all land within days. Expect implied volatility to stay bid in both directions, with Advanced Micro Devices and the broader chip complex trading as sympathy legs on every headline.
Bottom Line
Huang founded Nvidia in 1993 and turned it into the engine of the AI era. The board he built is now preparing to remove him, with no named successor and a proxy statement that warned everyone, in writing, that this day could hurt. The decision, when it comes, reprices far more than one stock.
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