Nvidia preparing to oust CEO Jensen Huang after 2nd affair with subordinate revealed, reports say
SAN FRANCISCO (KGO) -- It's a Silicon Valley fall from grace.
Nvidia CEO Jensen Huang, under pressure over an affair with an alleged Chinese spy, may soon be out as the company's head.
A new report said Nvidia's board planned to meet Wednesday to discuss whether to remove him.
All this after a separate report on Wednesday afternoon alleged that Huang had another affair, this time with a subordinate.
These developments are coming as Huang already faces demands from Congress to answer for his behavior with the alleged spy, because of national security concerns.
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The Wall Street Journal reported that Nvidia's board is preparing to oust Jensen Huang and that it could happen as soon as Wednesday night.
This comes after the New York Times exposed Huang's second alleged affair with a Nvidia executive who reports to him.
Five Nvidia employees told the New York Times the alleged second affair was with Kimberly Powell, the company's vice president of healthcare.
The news surrounding Huang and the allegations has created an economic earthquake all week -- with the markets responding -- and Wednesday was no different.
Nvidia stock was up nearly 5% earlier in the day during the regular trading session.
RELATED: Nvidia espionage allegations spark bipartisan scrutiny, raising national security concerns
But after this latest news broke, it plummeted once again, dropping 7.5% in after-hours trading.
Now, Lawmakers are demanding answers and are threatening to subpoena Huang over the first affair with the Chinese national who's suspected of being a spy.
That woman, Alice Huang, is an executive at a Singapore-based company and grew close to the Nvidia CEO over several years.
The FBI is looking into whether national security information was compromised.
Questions are growing about what President Donald Trump knew about the allegations and when.
RELATED: House Republicans consider issuing subpoena to Nvidia CEO Jensen Huang
Huang has not yet officially responded to Wednesday's Congressional deadline to accept appearing at a closed-door briefing.
He also has not suggested an alternate date.
