Nvidia shares fell about 8% in after-hours trading on Wednesday after The Wall Street Journal reported that the company’s board is preparing to remove chief executive Jensen Huang. The board met late on Wednesday to decide his future, Reuters reported. Nothing has been decided yet. Nvidia has declined to comment, and no official announcement has been made.
Updated: 12 November 2026, 10:00 IST
Quick Read
- The Wall Street Journal reported on 11 November that Nvidia’s board is preparing to remove chief executive Jensen Huang. Reuters reported the board met late on Wednesday to decide his future.
- Shares closed the regular session at $173.73, up 2.9%, then slid to $158.76 after hours — down 8.6%. About $600 billion in market value has gone this week.
- The board opened a probe on 8 November after Huang admitted infidelity in a staff letter. The New York Times has now reported a second affair, with Nvidia executive Kimberly Powell. No successor has been named.
What the board is weighing
The Wall Street Journal reported on 11 November, citing people familiar with the matter, that Nvidia’s board is preparing to remove Huang as chief executive. Reuters reported that the board met late on Wednesday to decide his future.
The board’s move follows an investigation it opened on Sunday 8 November into Huang’s personal relationships. That day Huang told staff he had been unfaithful to his wife and took “full responsibility”. He gave no details.
On Tuesday 10 November the board hired outside lawyers — Joon H. Kim and the firm Wachtell, Lipton, Rosen & Katz — to look into the claims. US lawmakers have sought a closed-door briefing on the matter, and the Trump administration is aware of the removal plans, CBS reported.
The shares: what fell, and what did not
In the regular session on Wednesday, Nvidia shares actually rose 2.9% and closed at $173.73. The fall came after the market shut, once the Journal report landed. In after-hours trading the stock slid to $158.76 — down 8.6% from the close.
That is an after-hours price, not the closing price. After-hours trading is thin, so prices swing more than in the day session.
The wider damage is bigger. Nvidia has lost around $600 billion in market value this week since the board announced its investigation on 8 November, per Business Today and Reuters. The stock is down about 23% in seven sessions since 3 November. It was down around 7% for the week and was heading for its sixth straight weekly fall, the Financial Express reported.
Also read: Nvidia board probes Huang over China spy claim
Two affairs, one probe
The controversy began with reports about Huang’s relationship with Alice Huang, a Chinese businesswoman whom US officials suspect of having links to China’s intelligence services. That link is a suspicion held by US officials — it has not been proven. US officials have also alleged that Alice Huang helped arrange shipments of Nvidia chips to Chinese companies. Again, that is an allegation, not a proven fact.
The New York Times then reported a second affair — with Kimberly Powell, Nvidia’s vice president of healthcare, who reports directly to Huang. The Times cited five people who had worked at Nvidia. When the Times called Huang on Wednesday and asked about his relationship with Powell, he said, “I don’t think you should be talking to me directly.” Then he ended the call.
Huang is 63. He co-founded Nvidia in 1993 and has led it for more than three decades.
Who runs Nvidia if Huang goes
That is the question the market is really asking. The Journal report said Nvidia has no succession plan in place. No successor has been named, and no name has even been reported as a candidate.
Huang owns about 3.6% of Nvidia’s stock. Most of his shares — around 800 million — sit in family trusts held with his wife, Lori Huang, per CNBC. He personally owns around 70 million shares.
The next fixed date is 17 November, when Nvidia reports third-quarter results.
Also read: Claude Fable 5.2 out: 20% cheaper, 30% faster
What it means for readers in India
Nvidia sells no consumer product in India, so this is not about a price you pay. It matters because its chips sit at the centre of the AI boom — Indian IT firms and start-ups buy or rent them, and Indian investors hold the stock through US-market funds.
If the board removes the man who built the company, the question is whether the new leadership keeps the same pace on AI chips at the exact moment rivals are catching up.
For now the only facts are these: the board has met, removal is reportedly being prepared, and no decision has been announced. The next real signal comes on 17 November.
Also read: Sensex jumps 1200 pts to 8-month high today
FAQ
Has Jensen Huang been removed as Nvidia CEO?
No. The Wall Street Journal reported the board is preparing to remove him, and Reuters said the board met late on Wednesday, but nothing has been decided and Nvidia has announced nothing. Nvidia declined to comment.
Why did Nvidia shares fall 8%?
The fall came in after-hours trading after the Journal report. The stock closed at $173.73, up 2.9%, then slid to $158.76 after hours, down 8.6%. About $600 billion in value has gone this week.
What happens next?
Nvidia reports third-quarter results on 17 November. The board’s probe continues, with outside lawyers Joon H. Kim and Wachtell, Lipton, Rosen & Katz. US lawmakers have sought a closed-door briefing on the matter.
Desk-original added context
Our own timeline, from the dates in the reports: 3 November 2026 — the slide starts, reaching about 23% in seven sessions; 8 November — Huang admits infidelity in a staff letter and the board opens an independent probe; 10 November — the board hires outside lawyers Joon H. Kim and Wachtell Lipton; 11 November — the Times reports the Powell affair, the Journal reports the board is preparing to remove Huang, and the board meets late that day; 17 November — Nvidia reports third-quarter results. Our own maths on the share move: the regular-session close was $173.73 and the after-hours low was $158.76 — a drop of $14.97, or 8.6%. The stock had risen 2.9% in the regular session first, so a holder who owned it at Wednesday’s open was still down about 6% on the day by the after-hours low. The $600 billion lost this week is roughly 15% of a company worth nearly $4 trillion.
Sources
- Business Today — Nvidia in turmoil: Jensen Huang’s future uncertain as board probes, weighs his exit (12 Nov 2026, 200 verified; WSJ + Reuters reporting)
- Times of India — Nvidia shares fall 8% after hours as board reportedly weighs Jensen Huang’s exit (12 Nov 2026, 200 verified)
- Financial Express — Nvidia shares plunge as board prepares to oust Jensen Huang: Report (12 Nov 2026; page loads — verified via browser, curl returned 403 bot-block)
Sasanka Sekhar Pradhan is the founder of India Presents, an India-focused news site. He covers daily box-office trackers, India news, economy explainers, sports previews and festival guides — in simple English, so readers across India can follow fast-moving stories without jargon. His focus is what a story means for the reader: the number that matters, the source behind it, and what happens next. India Presents publishes daily, with day-trackers updated as new figures come in.
