Nvidia Loses About $425 Billion in Market Value Over Two Trading Days

Nvidia shares closed down 5.5% on November 10, following a 4.3% decline in the previous trading session. The two-day slide wiped about $425 billion off the AI chipmaker’s market value. At one point during trading on November 10, share prices put the potential two-day loss at more than $470 billion. The market volatility came as investors focused on CEO Jensen Huang’s personal affairs.

In a letter to employees on November 8, Huang acknowledged a past extramarital relationship and apologized to his family. Reports about the relationship had previously raised concerns. Nvidia’s board has launched an independent investigation into Huang but said it currently has no reason to believe that national security or company secrets have been compromised. Huang remains CEO during the investigation.

Nvidia CEO Jensen Huang attends an event in South Korea in June 2026.（VietVance）

The matter has drawn attention to Nvidia’s corporate governance and its reliance on its CEO. Huang has led the company for more than 30 years; Nvidia has become a dominant supplier of AI chips. He owns about 3.6% of the company but does not hold a majority of its voting rights. The company has a relatively flat management structure, with dozens of executives reporting directly to him.

Investors are concerned that the matter could lead to restrictions and affect the broader AI infrastructure ecosystem. For now, these remain concerns: no related restrictions have been imposed, and there is no evidence that industry operations have been disrupted.

Source: VietVance