Nvidia shares drop $192 billion after CEO admits affair and board opens probe

Nvidia lost 192 billion dollars in market value on Monday, November 9, 2026. The company's stock price fell by 4.27 percent, dropping from 186.64 dollars to 178.67 dollars per share by the close of trading.

During the day, the stock price dipped by more than 8 percent before recovering some of that ground. This single session wiped out a value equivalent to the annual gross domestic product of many mid-sized nations. The decline occurred while the Nasdaq index rose by nearly 3 percent, isolating Nvidia from the broader market trend.

The sell-off followed the announcement by Nvidia's board of directors on Sunday, November 8. The board launched an independent investigation into a personal controversy involving Chief Executive Officer Jensen Huang. The probe is led by independent directors with outside legal counsel. Nvidia stated it has no reason to believe national security or corporate secrets were compromised, but it is reviewing all available information.

The board stated in a release that it prioritizes the national and economic security of the United States. It described these interests as primary for Nvidia and its shareholders. The company confirmed that Huang will continue to lead the firm without interruption during the review process.

On November 8, Huang sent a letter to employees acknowledging his infidelity. He apologized to his family and the staff, writing that there was no excuse for his actions. He pledged to fully cooperate with the investigation. The letter was a public admission that his personal life had intersected with the company's governance.

Reports from The New York Times and the Financial Times identified Alice Huang as the central figure in the controversy. She is a former executive at Megaspeed, a Singapore-based data center firm, and is not related to Jensen Huang. U.S. authorities reportedly identified her as a suspected member of Chinese intelligence. China's Ministry of Foreign Affairs rejected these claims, calling them baseless.

The financial stakes are high because Nvidia manufactures advanced chips for artificial intelligence. The United States has restricted sales of certain chips to China to prevent the technology from boosting Asian military or technological capabilities. A perceived breach of trust by the CEO therefore carries weight beyond the personal scandal.

Jensen Huang's personal wealth decreased by approximately 6.8 billion dollars on Monday. Forbes estimated that he lost 7.4 billion dollars in the first 30 minutes of trading. His net worth had already fallen by 15.1 billion dollars on November 5, when Nvidia shares dropped more than 9 percent due to concerns about artificial intelligence spending.

Investors holding Nvidia stock through index funds, retirement plans, or individual portfolios saw the value of those holdings decline. The loss represents a change in market valuation rather than cash paid out by the company. However, selling shares at the lower price would lock in that reduction in value for the investor.