Nvidia CEO Jensen Huang faces board revolt over spy affair allegations, shares plunge 6%

Nvidia's board is reportedly moving to oust CEO Jensen Huang after he admitted to an affair with Alice Huang, a senior executive at Singapore's Megaspeed whom US officials accuse of spying for China. The New York Times revealed a second affair with Nvidia's healthcare VP Kimberly Powell, triggering an emergency board meeting Wednesday night. No official decision has been announced.

Shares dropped 6% in pre-market trading Thursday, extending a 24% slide over the past month that's wiped $1.4 trillion off Nvidia's market cap. The stock is due to report earnings next Tuesday, and analysts say the integrity of its $1 trillion revenue forecast is now the key question. Nvidia has no clear succession plan—Huang is the only CEO the company has ever had.

The fallout rattled Asian markets: Tokyo, Seoul, Hong Kong and Shanghai all closed lower. But European markets rose as investors rotated out of US tech—Frankfurt's DAX hit a record high above 27,000. Burberry jumped 9% after returning to profit. Oil slipped below $93 on Gulf production increases despite the US-Iran war.

For Nigerian investors holding US tech stocks or AI-exposed funds, this is a stress test. Nvidia's stability affects the entire AI trade that's driven global markets. Tuesday's earnings call will reveal whether the board has a plan—or if the AI poster child is heading into chaos.

Will you hold through the volatility, trim AI exposure, or wait for Tuesday's clarity before deciding?

SOURCE: https://www.channelstv.com/2026/11/12/tech-stocks-under-pressure-as-nvidia-crisis-deepens/