Nvidia's board is reportedly preparing to oust Jensen Huang. Traders now see him gone by year end.
Future Times1 min read
In 30 seconds
After the New York Times reported a second relationship, the Wall Street Journal said directors could meet as soon as Wednesday. Nvidia has not confirmed either report.
- Nvidia fell as much as 10% after hours on a report that the board is preparing to remove Huang
- Nothing is official: the board backed Huang on 8 November and Nvidia has not confirmed the reports
- Traders put Huang's exit by 31 December at 88.5%, and Nvidia's chance of ending the year as the biggest company at 12.5%
The odds
Polymarket · finalNvidia announces Huang's exit by 31 December
Resolved yes89% when this was published
- Jensen Huang announced resignation or removal by November 13, 2026100%Resolved yes
- Jensen Huang announced resignation or removal by November 30, 2026100%Resolved yes
- Largest Company end of December 2026: NVIDIA8%down 27 points
Nvidia shares fell as much as 10% in after-hours trading on Wednesday after the Wall Street Journal reported, citing people familiar with the matter, that the board is preparing to remove founder and chief executive Jensen Huang and could meet as soon as that day. The stock had closed up about 3% at $173.73. Nvidia has not confirmed the report.
The Journal's story followed a New York Times report, citing people who worked at the company, that Huang had a second extramarital relationship, this time with a senior Nvidia executive who reports to him. Huang has not responded to that report, and Nvidia had not commented when this was written.
On Sunday Huang told staff he had an earlier affair, with a Chinese executive whom US officials suspect of working for Chinese intelligence, which China denies. "There is no excuse for what I did," he wrote. "I am deeply sorry." The board opened an independent investigation that day and said it had confidence in Huang and his leadership team.
What markets now expect
Nothing official has changed since then, yet traders have moved sharply. They put the chance that Nvidia announces Huang's resignation or removal by 31 December at 88.5%, up from 12.5% a week ago. They give it 73% by Friday and 84.5% by the end of November.
The same traders now give Nvidia only a 12.5% chance of being the world's largest company at the end of the year, down from about 37% a week ago.
Why it matters
- Markets: Nvidia reports quarterly results on 17 November. It has not disclosed a succession plan, and analysts see no obvious successor.
- Business: If the Times report holds, the board must weigh it against Nvidia's own code of conduct, which tells employees to avoid conflicts of interest arising from personal relationships.
- Politics: The board's investigation into the reported foreign intelligence targeting of Huang continues. It has said it has no reason to believe national security or company secrets were compromised.