Nvidia falls 4.3% on a day the Nasdaq jumps 2.7%, as the board probe of Jensen Huang enters its second day
First seen on X 2 days ago@unusual_whales ♥ 11,1304 views
Nvidia shares closed down 4.27% at $178.67 on Nov. 9 in New York, on a day when the Nasdaq rose 2.74% and major indexes rebounded together. The stock fell as much as 8.79% to $170.24 intraday.
According to eToday, citing CNN, Nvidia's board began an independent investigation the day before into whether CEO Jensen Huang was targeted by a foreign intelligence effort. In a statement the board said there is "no reason to believe national security or Nvidia's confidential information has been compromised" so far, but that it would review all available information. Citigroup analysts said the key question is whether the probe affects Huang's position or Nvidia's China sales. Hankyung reported that Huang owns 3.4% of Nvidia, has up to 60 direct reports and has no clear successor. Nvidia reports earnings on Nov. 17.
On X on Nov. 9, a post citing The New York Times spread, saying the US Commerce Department had approved Nvidia chip sales to companies that did not exist, were on sanctions lists or had ties to China's military (about 11,000 likes; there is no official confirmation). Prediction market Polymarket posted that Nvidia had intervened in a probe of suspected chip smuggling by Megaspeed and put the odds of Huang leaving this year at 15%.
The fallout reached Korea. Outlets relaying Yonhap reported that Huang's daughter Madison Huang canceled, a day before arriving, her trip to Nvidia AI Day Seoul 2026 at COEX (Nov. 9-10), citing "family reasons." Seoul Shinmun reported on Nov. 10 that President Trump spoke with Huang and said he believes Huang did not know the executive was a spy.
“BREAKING: The US Commerce Dept was approving sales of Nvidia, $NVDA , chips to companies in China which either did not exist, were on the sanctions list, and/or had ties…”
