Days after admitting an affair with a woman US intelligence reportedly suspects is a Chinese spy, Nvidia CEO Jensen Huang is facing a report of a second affair, this time with Nvidia executive Kimberly Powell, according to The New York Times. Nvidia’s board met Wednesday night to decide whether he stays. Here is what happened, why it looks like one of the oldest tricks in the spy book, and what it means for NVDA.
Closing prices from market data. The October 29 close was $213.66. Part of that drop also comes from a wider selloff in AI stocks after the midterms, so not all of it is about Huang. After-hours move per CNBC. As of the morning of November 12, 2026. Sources listed at the bottom of this post.
What happened
- October 29: The New York Times reported that Huang had a close relationship with a woman named Alice Huang (no relation), linked to Megaspeed, a cloud company that buys Nvidia chips. The Times and the Financial Times have reported that US intelligence officials believe she works for China’s Ministry of State Security.
- November 8: Huang sent an email to Nvidia employees admitting an affair. He did not name anyone.
“I was unfaithful to my wife.”Jensen Huang, in an email to Nvidia staff, as reported by ABC News
- Same day: Nvidia’s board opened an independent investigation into reports that Huang was the target of a foreign intelligence effort. It said it has no reason to believe national security or Nvidia secrets were compromised.
- November 10: President Trump said he spoke with Huang, and that Huang told him he had no idea she was a spy. China called the spy allegations baseless.
The second woman: Nvidia executive Kimberly Powell
On Wednesday, November 11, The New York Times reported a second relationship, this time inside the company. According to the report, as covered by CNBC, the second woman is Kimberly Powell, Nvidia’s vice president of health care. She has led Nvidia’s health care business since 2017 and reports directly to Huang.
The Times said the two were caught on camera being affectionate at a hotel during an Nvidia conference in March. The Times said it has not seen the video itself, and ABC News said it could not verify the report. Nvidia and Powell did not respond to requests for comment, and neither has confirmed or denied it.
This matters more for the board than the first report did. A CEO in a relationship with someone who reports to him is a classic company-policy problem, whatever else is going on.
Is the board pushing him out?
Possibly. The Wall Street Journal reported Wednesday that the board was preparing to force Huang out. CNBC confirmed the board met that night to decide his future, and the meeting ran into the evening. As of Thursday morning, no decision has been announced.
A few things to know:
- The board can do it. Nvidia’s bylaws let a majority of directors remove the CEO with or without cause, and 10 of its 11 directors are independent.
- It’s a big turn. On Sunday the board said it had confidence in Huang. Three days later it was meeting about removing him.
- Possible successor: Semafor reported some directors favor CFO Colette Kress as interim CEO if Huang leaves.
- Or he stays, with limits: Fortune reported some analysts expect the board to keep Huang but rein him in.
What is a honey pot?
A honey pot, also called a honey trap, is one of the oldest moves in spying. Instead of breaking into a building or hacking a computer, an intelligence service sends someone to build a romantic relationship with a person who has access to something valuable.
The playbook usually looks like this:
- Pick a target with access: a government official, a military officer, or an executive with trade secrets.
- Make contact in a normal-looking way, often through business, a conference or a mutual contact.
- Build closeness and trust over months or years.
- Collect information, influence decisions, or hold the relationship over the target as leverage later.
Intelligence agencies have used it for decades. During the Cold War, the Soviet KGB was known for it, and Western security services still warn executives who travel or deal with foreign partners to watch for it.
My take: this has the marks of a honey pot
If the reporting is right, the Alice Huang story reads like the textbook. Jensen Huang controls access to the most wanted chips in the world, the ones the US limits from going to China. The woman is linked to a company that buys those chips, and US intelligence reportedly believes she works for China’s spy agency. That is exactly who a honey pot is built for.
To be fair: none of this has been proven. Huang says he didn’t know, China denies it, and the board says it has no reason to think any secrets got out. The second relationship is a separate report about someone inside Nvidia, and nobody has said it has anything to do with spying.
But the lesson is old as time. The most powerful people are the biggest targets, and the trap rarely looks like a trap. It looks like a friendship, a business contact, or a romance. Now the board has to decide whether a CEO who may have fallen for it can keep running a company this important.
What it means for NVDA
Huang co-founded Nvidia and has run it for more than 30 years. To a lot of investors, he is Nvidia, so the uncertainty itself is weighing on the stock. NVDA closed at $173.73 on Wednesday and dropped about 9 percent more after hours on the ouster report.
Dates to watch:
- Any day now: the board’s decision on whether Huang stays.
- November 17: Nvidia’s third-quarter earnings.
- November 18: the closed-door briefing House Republicans asked Huang to give on his ties to Alice Huang. House Foreign Affairs Chairman Brian Mast said he is prepared to subpoena him.
Big news like this makes a stock swing hard in both directions. If you are new, watch it, take notes and paper trade it before risking real money.
Sources and further reading
- CNBC: Nvidia board meeting to decide CEO Jensen Huang’s fate stretches into evening
- ABC News: Nvidia board reportedly preparing to oust CEO Jensen Huang after alleged affairs
- CNBC: Nvidia investigates CEO Jensen Huang’s relationship with alleged Chinese spy
- Nvidia: Statement from the Nvidia board of directors
- CNN: Nvidia board discusses Jensen Huang’s future (live updates)
- Fortune: Why Nvidia’s board may rein in Jensen Huang rather than fire him
This article is for education and entertainment only and is not financial, legal or tax advice. It is based on public news reporting as of the morning of November 12, 2026. The spy allegations and the second relationship are reports and allegations, not proven facts: Nvidia has not confirmed them, China denies the spy claims, and no one has been charged with anything. The view that this fits a honey pot pattern is my own opinion. Do your own research and consider talking to a licensed professional before making investment decisions.
