The board is preparing to meet as soon as Wednesday to determine his future, the report said.
Earlier in the day, the New York Times reported Huang had an extramarital affair with a company executive who reported to him.
The relationship was with Kimberly Powell, Nvidia's vice president of healthcare, the New York Times said, citing five people who worked at the company.
Nvidia did not immediately respond to a request for comment. Reuters could not immediately verify the reports.
The reports on Wednesday come days after Huang acknowledged being unfaithful to his wife, as Nvidia's board investigates whether he was targeted by a foreign intelligence operation.
The latest revelation escalates a controversy that has drawn scrutiny from mps, investors and Nvidia's board over Huang's conduct and his relationship with Alice Huang, a woman who US intelligence has said has facilitated shipments of Nvidia chips to Chinese firms.
Nvidia's shares were down about eight per cent in after-hours trading. The stock has lost more than $US300 billion ($A438 billion) in market value since news of the affair with Alice Huang broke.
Huang's potential exit would create a leadership vacuum at the $US4 trillion ($A5.8 trillion) company that has become a focal point in the US-China race for AI supremacy with its dominance in chips used to train models and power services such as OpenAI's ChatGPT.
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