Nvidia shares plummeted more than nine percent in after hours trading on Wednesday following a series of explosive reports regarding the personal conduct of CEO Jensen Huang. A report from The New York Times alleges that Huang engaged in an extramarital relationship with Kimberly Powell, the company’s vice president of healthcare. According to the publication, the two were allegedly filmed acting affectionately at a hotel in San Jose this past March, adding fuel to long standing rumors within the company about their connection.

The revelation comes at a precarious moment for Huang, who just recently apologized to staff for a separate affair with a woman identified by U.S. intelligence officials as a potential agent for China’s Ministry of State Security. That previous scandal already triggered an independent investigation led by the law firm Wachtell Lipton and sparked intense scrutiny from members of Congress concerned about national security and the integrity of AI technology exports.

Adding to the volatility, The Wall Street Journal reports that Nvidia’s board of directors is now preparing to move toward ousting Huang entirely. The board is expected to meet urgently to decide on his future as leader of the semiconductor giant. While Huang has become the face of the global AI revolution, these overlapping scandals have created a leadership vacuum that investors fear could destabilize the company’s trajectory.

This internal turmoil coincides with broader market anxiety regarding the sustainability of AI infrastructure spending and new political headwinds following recent elections. As shareholders grapple with whether Nvidia is too reliant on its founder’s persona, the combined weight of corporate governance failures and geopolitical risks has sent the stock into its sixth consecutive weekly decline.