Nvidia board preparing to oust CEO Jensen Huang, WSJ reports

Nvidia's board is preparing to oust co-founder and CEO Jensen Huang after he had two extramarital affairs, including one with Alice Huang, a woman US intelligence says helped facilitate shipments of Nvidia chips to Chinese firms, the Wall Street Journal reported, citing people familiar with the matter. The board could meet as soon as Wednesday to decide his future. Earlier in the day the New York Times reported a relationship with Kimberly Powell, Nvidia's vice president of healthcare, who reported to him. Nvidia shares slid about 8% after hours, bringing the company's market-value loss this week to roughly $600 billion. Analysts note Nvidia has no public succession plan. Nvidia did not immediately comment.