A hot potato: On Sunday, Nvidia's board said it still had confidence in Jensen Huang. That confidence lasted all of three days. The board is now reportedly preparing to push him out, with directors set to meet as soon as Wednesday to decide the future of the man who co-founded the chipmaker in 1993 and remains the only CEO it has ever had. The turn came after a second extramarital affair surfaced, this time with an Nvidia executive who reports directly to him.

The Wall Street Journal reported the board's plans on Wednesday, citing people familiar with the matter. A separate source told Reuters that directors were meeting that same evening. Nvidia shares dropped about 8% in after-hours trading.

The board first opened an investigation on Sunday, the same day Huang told his entire staff in writing that he had been unfaithful to his wife. The woman involved is Alice Huang – no relation – who was an executive at Singapore-based Megaspeed, one of Nvidia's major customers.

The catch: US intelligence officials believe she is a Chinese intelligence asset. Beijing has brushed off the claims, Megaspeed denies wrongdoing, and Nvidia has described its dealings with her as routine.

At the time, the board said it had no reason to believe national security or company secrets had been compromised. But on Wednesday, The New York Times reported a second relationship, with Kimberly Powell, Nvidia's vice president of healthcare. The paper cited five people who worked at the company. Two of them even said the pair were filmed being affectionate at a San Jose hotel during Nvidia's own developer conference in March.

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