According to sources familiar with the matter confirmed that the board was meeting late Wednesday to determine Huang's future at the artificial intelligence chipmaker.
The allegations involve two separate reported relationships. The New York Times reported that Huang had a relationship with Kimberly Powell, Nvidia's vice-president of healthcare, citing five people familiar with the matter.
The second allegation concerns Alice Huang, a businesswoman associated with Singapore-based data centre company Megaspeed. Reports have raised questions about her alleged links to Chinese intelligence, prompting concerns about possible national security implications.
Report says that Nvidia had launched an internal investigation and engaged outside legal counsel to examine the circumstances surrounding the allegations.
In a message to employees on Sunday, Huang acknowledged being unfaithful to his wife and accepted responsibility, although he did not publicly provide details of the relationship.
The board's latest deliberations mark a shift from its earlier position. On November 8, Nvidia's directors publicly expressed confidence in Huang and the company's management team.
According to Nvidia's corporate bylaws allow directors to remove the chief executive through a majority vote. Huang, 63, co-founded the company in 1993 and owns approximately 3.6% of its shares.
His potential departure would create uncertainty over succession, with no officially confirmed replacement announced.
Nvidia has not publicly confirmed a decision to remove Huang. The company is scheduled to release its quarterly financial results on November 17, adding to investor attention surrounding the leadership uncertainty