According to the Wall Street Journal, Nvidia will fire CEO Jensen Huang following an internal investigation into his alleged affair with a Chinese spy.
The board is preparing to oust Huang and will hold a November 18 meeting on the matter.
The meeting will discuss the results of an investigation launched after reports of Huang's two extramarital affairs - one with a woman suspected of working for Chinese intelligence, the other with a company employee.
Jensen Huang's departure will mark the end of an era in which he became the driving force behind the global artificial intelligence boom and emerged as a global geopolitical figure.
As a result, one of the most valuable companies in the world will be left without a leader.
Nvidia plays a central role in the conflict between Washington and Beijing over leadership in the field of artificial intelligence - the White House considers China's access to US-made chips a matter of national security and has made them subject to export restrictions.