The Journal, citing people familiar with the matter, reported that the board could meet as soon as Wednesday to make a decision. Independent directors had been investigating whether Huang was targeted by a foreign espionage effort, following an affair with a woman suspected of being a Chinese intelligence source, the report said.

Nvidia shares were already declining in after-hours trading after The New York Times reported that Huang had a separate extramarital relationship with an Nvidia vice president. The Times cited people who worked at the company.