Nvidia Shares Fall 5.47% as Board Probes Chief Executive Jensen Huang
- 11th November 2026
- 01:00 PM
- 3 min read
Summary
Nvidia shares fell 5.47% on Tuesday, 10 November 2026, to close at $168.89, over the controversy around chief executive Jensen Huang. Its board is looking into whether Huang was the target of a foreign intelligence effort. The board said it has no reason to believe national security or Nvidia secrets were compromised. China’s Foreign Ministry rejected the spying allegations.Mumbai | 11 November 2026
Nvidia is a United States (US) company that designs chips used in data centres to train and run artificial intelligence (AI) models. Its shares fell 5.47% on Tuesday, 10 November, over the controversy around chief executive Jensen Huang, closing at $168.89 against Monday’s close of $178.67. The fall cut Nvidia’s market value to $4.07 trillion.
The shares had fallen 8% at the start of trading on Monday, 9 November, a day after the company announced the probe.
Huang, 63, co-founded Nvidia in 1993 and has led the company since. Nvidia’s market value had risen from $420 billion in late 2022 to $4.5 trillion as of 6 November 2026. Its shares have risen 455.74% over the past five years, based on Tuesday’s close.
Nvidia’s price-to-earnings (P/E) ratio stood at 21.35 at Tuesday’s close, down from 50.13 on 31 October 2025. The P/E ratio shows how many dollars investors pay for every dollar of profit a company earned over the past 12 months.
Why Has Nvidia Launched a Probe Into Jensen Huang?
Nvidia’s board is looking into reports that Huang was the target of a foreign intelligence effort. A committee of independent directors, who are board members from outside the company’s management, will oversee the probe. Outside independent lawyers from the law firm Wachtell, Lipton, Rosen & Katz will assist the committee.
Nvidia said Huang fully supports the review and has committed to cooperating with it. The board expressed confidence in Huang and said it has “no reason to believe that either national security or Nvidia secrets were compromised.”
How Have China and US Lawmakers Responded?
China’s Foreign Ministry rejected the spying allegations on Monday, calling them a smear campaign directed at Beijing.
Senior Republicans in the US House of Representatives have sought briefings from Huang, citing national security concerns. The House of Representatives is one of the two houses of the US Congress, the country’s law-making body.
Why Do Nvidia’s Chip Sales to China Matter?
Nvidia sits at the centre of the technology rivalry between the US and China. Washington has restricted exports of advanced AI chips to China since 2022.
Huang has urged Washington to ease these restrictions. This year, he secured US President Donald Trump’s approval to sell Nvidia’s H200 chips to China. It remains uncertain whether Beijing will allow Chinese companies to buy these chips in large volumes.
In an August regulatory filing, Nvidia said it had sold only a limited quantity of chips to China, citing restrictions imposed by the Chinese government.
Outlook
The independent committee will review all available information. Democrats won control of the US Congress last week. Candidates who support closer oversight of AI and data-centre construction also recorded significant victories.
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