Gulf Business Leaders Defend Nvidia CEO Jensen Huang Amidst Board's Future Deliberations

Prominent business figures from the Gulf region have voiced their support for Jensen Huang, the co-founder and chief executive of Nvidia, as the company's board deliberates on his leadership. The discussions come in light of allegations of two extramarital affairs.

Hussain Sajwani, founder and chairman of Damac Properties, stated at Bloomberg Invest in Dubai on Thursday, "If he is forced to depart, it will be a big loss for the world, not for America, for the world. This guy has done a great job." Saudi investor Prince Khaled bin Alwaleed, founder of KBW Ventures, expressed a strong opinion on X, writing, "If Nvidia board fires Jensen Huang, that would be the dumbest thing they've ever done."

These comments emerge as Nvidia, the world's most valuable chip maker, navigates a leadership crisis. Mr. Huang acknowledged on Sunday that he had been "unfaithful" to his wife, following reports of a relationship with Alice Huang, a businesswoman whom US investigators suspect of espionage for China. Consequently, Nvidia's board has initiated an investigation into whether Mr. Huang was a target of a foreign intelligence operation.

The New York Times reported on Wednesday that Mr. Huang also had a relationship with Kimberly Powell, a senior executive within Nvidia who reports directly to him. The Wall Street Journal indicated that the board is considering his removal.

Nvidia shares experienced a decline of approximately 7 percent in pre-market trading on Thursday, as the ongoing turmoil impacted technology stocks. Mr. Huang maintains significant ties to the Gulf, where Nvidia's advanced chips are instrumental in supporting ambitious artificial intelligence initiatives. He has been a proponent of "sovereign AI," advocating for nations to develop their own AI infrastructure, a concept that has garnered interest from governments in the UAE and Saudi Arabia.

In July, Washington relaxed export regulations, enabling UAE companies, including G42 and Core42, to acquire Nvidia's sophisticated chips without requiring a license. The scandal has also attracted attention in Washington, with House Republicans seeking Mr. Huang's testimony and lawmakers from both parties calling for stricter oversight of chip exports to China. Nvidia has not issued any official statement regarding the board's ongoing deliberations.