Gary Black says Nvidia ($NVDA) CEO Jensen Huang could face removal after the company’s board opened an independent review into his relationship with a woman U.S. officials reportedly suspected of ties to Chinese intelligence. Black, managing partner of the Future Fund, said Huang has not been accused of a crime or civil wrongdoing, but argued that questions around judgment and conduct could still lead the board to act. “I doubt Jensen Huang will be able to remain as NVDA CEO,” Black wrote on X. He warned that uncertainty around leadership could put short-term pressure on Nvidia shares, especially because the company has no obvious internal successor. Black also said some portfolio managers may reduce their Nvidia exposure while the review is underway, though he does not expect the situation to damage the company’s long-term value. Huang has apologized to employees for being unfaithful to his wife, saying his actions hurt his family. Nvidia’s board said an independent committee, supported by outside counsel, will oversee the investigation. The company has publicly said Huang intends to continue leading Nvidia without interruption. The situation has also drawn political scrutiny. Three House Republican committee chairmen requested a closed-door briefing with Huang regarding his reported interactions. For investors, the near-term issue is less about Nvidia’s AI business and more about succession risk. If Huang were to leave unexpectedly, the lack of a clear replacement could create added volatility around one of the world’s most valuable companies.