Nvidia stocks tanked during the early evening of Wednesday, Nov. 11, following a report by the New York Times (NYT) about Huang's second affair. According to the outlet, the 63-year-old Huang was reportedly involved with Nvidia Vice President of Healthcare Kimberly Powell, who is 48 years old and married.
The Hill reported that Nvidia shares were down by roughly 8.3% during after-hours trading, dipping below $160 per share [1]. Prior to the report, Nvidia stocks were trading above the $200 mark – even reaching an all-time high of $243.37 on Oct. 6.
Nvidia shares had not fallen below that threshold since June 2025. The company's shares had touched a $4 trillion market value for the first time in July 2025, amid the artificial intelligence hardware boom [2].
Report Cites Second Relationship; Stock Had Already Fallen
The report followed an earlier NYT article that the Nvidia CEO had an affair with Alice Huang, an executive at Singaporean firm Megaspeed, which is an Nvidia customer. U.S. intelligence officials believe she is a Chinese spy, according to the report [3][4].
The stock had already sustained losses earlier in the week. Shares sank 5.47% on Tuesday, Nov. 10 – following a 4% drop on Monday, Nov. 9. This translated to a loss of about 9.5% in two days, according to TechCrunch [5].
Board Investigation and Potential Leadership Change
Given the fallout of Huang's extramarital affairs, the company's board of directors was preparing to meet as soon as Thursday, Nov. 12, regarding Huang's future, the Wall Street Journal reported [6]. The board had previously hired the law firm Wachtell, Lipton, Rosen & Katz to conduct an internal investigation, according to TechCrunch [5].
The Nvidia CEO acknowledged the affair in a company memo, admitting that he was "unfaithful" to his wife of 41 years per a Bloomberg report Sunday, Nov. 8. The admission followed reports that U.S. intelligence agencies believed Huang had been targeted in an espionage campaign by China [3]. Beijing has rejected the claims, according to the BBC [3].
Separately, Nvidia and Huang were sued over allegations that the two misled investors by concealing the CEO's relationship with the Megaspeed executive [5].
What to Watch
Investors were watching for official comments from the company and any confirmation of the board meeting. The episode unfolds against a backdrop of broader nervousness about AI infrastructure spending.
"It is going to be a very challenging situation," said Jonestrading Chief Market Strategist Michael O'Rourke. "Jensen had forecast 70% sales growth this year. With the vendor financing and the aggressive tactics, his successor will spend the next year putting out fires and cleaning up messes" [6].
References
- Nvidia stock tanks after report of second Jensen Huang affair. https://thehill.com/business/6214833-nvidia-ceo-jesen-huang-affair/
- NVIDIA surpasses 4 trillion market cap amid AI boom and geopolitical strains - NaturalNews.com, July 11, 2025.
- Nvidia shares tumble over investigation into Huang's affair with alleged Chinese spy. https://bbc.com/news/articles/c6zxjx01vyleo
- Is Jensen Huang’s job on the line? Yale’s Jeffrey Sonnenfeld estimates it’s “about a 50-50”. https://techcrunch.com/2026/11/08/is-jensen-huangs-job-on-the-line-yales-jeffrey-sonnenfeld-estimates-its-about-a-50-50/
- Nvidia’s crisis has corporate governance experts reaching for the popcorn. https://techcrunch.com/2026/11/10/nvidias-crisis-has-corporate-governance-experts-reaching-for-the-popcorn/
- Nvidia Preparing To Fire Huang After 2nd Affair Bombshell, Stock Knifes Lower: Report. https://www.zerohedge.com/ai/caught-video-jensen-huang-reportedly-had-second-affair-time-his-own-nvidia-executive
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