{"text":[[{"start":12.88,"text":"Nvidia’s board is set to decide the future of its founder Jensen Huang after revelations that he had a romantic relationship with a company executive, days after it emerged that he had an affair with a suspected Chinese spy."}],[{"start":26.62,"text":"The board held urgent talks on Wednesday night after news broke of the Nvidia chief executive’s relationship with Kimberly Powell, the chipmaker’s vice-president of healthcare, according to people familiar with the matter."}],[{"start":39,"text":"The relationship with an Nvidia employee deepens an already damaging scandal for the $4.2tn semiconductor group. Huang on Sunday admitted to having an affair, two days after the FT reported his romantic links to an executive at an Nvidia client, who US officials believe is a Chinese intelligence asset."}],[{"start":59.1,"text":"Nvidia did not immediately respond to a request for comment. Powell, who has worked at Nvidia for more than 18 years and is among its more prominent public figures, could not be reached for comment."}],[{"start":70.52,"text":"The board, which unusually has no chair in a testament to Huang’s singular role at Nvidia, this week hired a former federal prosecutor to investigate his affair with the suspected spy. But the board has thus far backed Huang to remain as chief executive."}],[{"start":85.9,"text":"The directors could opt to have Huang step back from his duties as CEO while the investigation proceeds and the board intensifies succession planning. Or they could now push for his immediate departure."}],[{"start":98.76,"text":"Nvidia’s annual reports and corporate governance paperwork have until now included no specific reference to “succession planning” and set out no details for how it would replace its CEO, even in an emergency."}],[{"start":111.14,"text":"The company’s shares dropped 8.6 per cent in after-hours trading after The New York Times first reported the relationship with Powell and The Wall Street Journal reported that Nvidia’s board could oust Huang."}],[{"start":123.44,"text":"Futures tracking the tech-heavy Nasdaq 100 also dropped about 1 per cent in evening trading."}],[{"start":129.38,"text":"Huang’s departure from Nvidia, until recently the world’s most valuable company, would have far-reaching consequences for the AI industry and US stock market."}],[{"start":138.14,"text":"Nvidia’s dealmaking — including extensive equity investments in AI companies and more complex financial guarantees — has made it a central player in the financing boom surrounding the technology. Its semiconductors, meanwhile, are integral to training and running AI models from the likes of OpenAI and Anthropic."}],[{"start":156.5,"text":"The news of a second relationship has piled pressure on Huang, already under intense scrutiny for his relationship with Alice Huang, an executive at a Singapore-based Nvidia customer called Megaspeed."}],[{"start":168.493,"text":"US intelligence officials believe Alice Huang had been recruited by China’s Ministry of State Security spy agency."}],[{"start":174.7,"text":"Donald Trump on Monday said the FBI was investigating the situation but supported Huang, calling him “a high-quality person”. The president and the Nvidia chief have formed a close rapport since Trump returned to the White House, making Huang an influential voice in US AI policy."}],[{"start":191.66,"text":"Senior Republicans and Democrats have called for congressional investigations into the Nvidia boss, who has pushed for US companies to be allowed to sell more advanced AI chips to China."}],[{"start":202.06,"text":"Democratic senators Elizabeth Warren and Chris Coons asked three senior Trump officials — commerce secretary Howard Lutnick, secretary of state Marco Rubio and White House chief of staff Stephen Miller — to preserve all documents linked to Nvidia’s AI chip exports to China."}],[{"start":217.94,"text":"Warren and Coons will take over from January as incoming heads of the Senate’s banking and foreign relations committees respectively."}],[{"start":225.22,"text":"Asked on X if he would hire Jensen Huang, Elon Musk, Tesla chief executive, replied: “That would be an honor.”"}],[{"start":237.3,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1794460553_1873.mp3"}