Nvidia stock falls 4.5% after reports of another Jensen Huang affair: NYT

The relationship was described by five people who worked at Nvidia, according to the New York Times. Huang, 63, and Powell, 48, are both married to other people, the report said.

Two former employees claimed the pair were seen being affectionate at a San Jose hotel during Nvidia's annual GTC conference in March. A bystander reportedly recorded the interaction, although the Times said it had not reviewed the video.

The allegations come as Nvidia's board investigates Huang's previously reported relationship with Alice Huang, a Chinese business executive whom US intelligence officials have identified as a suspected Chinese intelligence asset. China has denied the espionage allegations.

Board Investigation

Nvidia's board has retained law firm Wachtell, Lipton, Rosen & Katz to lead the investigation, while Republican leaders of three House committees have requested a private briefing with Huang over his interactions with Alice Huang.

Nvidia's code of conduct requires employees to avoid conflicts of interest involving personal relationships. The company declined to comment on the latest allegations, while Powell did not immediately respond to the Times.

Market Reaction

Meanwhile, Polymarket traders pushed the odds of Huang announcing his resignation or removal as Nvidia CEO by the end of 2026 to approximately 31% following the latest allegations, reflecting growing speculation over his leadership. The probability had stood near 16% earlier Wednesday.

The latest allegations add to scrutiny of Huang's leadership amid the ongoing board investigation. Nvidia's board previously expressed confidence in Huang and said it had no reason to believe company secrets or national security had been compromised.

Nvidia's market cap stands at $4.1 trillion with a trailing P/E ratio of 21.3.