Nvidia’s board of directors is preparing to remove company founder and CEO Jensen Huang following reports that he had two extramarital affairs, including one involving a woman suspected of having ties to Chinese intelligence, according to a Wednesday report by The Wall Street Journal.

The board could meet as soon as Wednesday to determine Huang’s future at the semiconductor giant, Reuters reported, citing the Journal. Reuters said it could not independently verify the report.

The latest developments follow reports identifying two women with whom Huang allegedly had relationships. One was Alice Huang, a former executive at Singapore-based data center company Megaspeed International. U.S. intelligence officials reportedly suspected she was working on behalf of China to obtain information and help Chinese companies gain access to Nvidia technology. Beijing has rejected the allegations.

The second reported relationship involved Kimberly Powell, Nvidia’s vice president of healthcare, who reportedly worked under Huang. The New York Times reported the relationship on Wednesday, citing five people familiar with the company. Neither Powell nor Nvidia immediately commented on the report.

Huang acknowledged being unfaithful to his wife in a message to employees earlier this week, apologizing to his family and colleagues and accepting responsibility for his actions. He did not publicly identify the women or provide details about the relationships.

Nvidia’s board announced Sunday that an independent committee, assisted by outside legal counsel, would investigate reports that Huang had been targeted by a foreign intelligence operation. The company said it had no reason to believe U.S. national security or Nvidia’s trade secrets had been compromised and expressed confidence in Huang and his leadership team.

The allegations have raised questions about potential conflicts of interest, corporate oversight and the security of Nvidia’s dealings with Chinese customers. Huang has been a prominent figure in debates over U.S. restrictions on advanced semiconductor exports to China, arguing that American companies should retain access to the Chinese market.

A departure would also create a major leadership challenge for Nvidia, which has become one of the world's most valuable companies under Huang. Reuters reported that the company has no clear succession plan, adding uncertainty to the potential consequences of his removal.