Nvidia falls 6.3% as Huang controversy deepens, erasing $10 billion from CEO's fortune
Nvidia shares fell 6.3% to a seven-month low of $166.5 on Tuesday, extending a 4.3% slide from the previous session as investors weighed reports about an internal investigation into chief executive Jensen Huang days before the chipmaker reports quarterly earnings on 17 November.
The sell-off has cut Huang's net worth by $10 billion to $145.6 billion, Forbes estimated, after a $7.4 billion decline on Monday, leaving him 12th on its Real-Time Billionaires ranking. If Tuesday's losses hold through the close, Nvidia is on track to shed around $400 billion in market value over two sessions, having lost nearly $200 billion on Monday.
At the centre of the concern is Huang's position at the company he co-founded in 1993. Nvidia's board reportedly launched an internal investigation on Sunday after Huang said in an internal staff memo that he had been unfaithful to his wife and apologised to employees. The FBI is reportedly examining whether the 63-year-old was targeted as part of a foreign intelligence operation.
The allegations surfaced after reports that Huang had a relationship with Alice Huang, also known as Huang Le, an unrelated former executive of Singapore-based data centre company Megaspeed, which was investigated by US authorities and reportedly identified as a Chinese intelligence asset. Megaspeed is one of Nvidia's biggest customers in Southeast Asia.
US President Donald Trump, Elon Musk and investor Bill Ackman have publicly backed Huang. Nvidia, whose market capitalisation passed $5 trillion in 2025 on the strength of its graphics processors in artificial intelligence, is likely to face questions on the controversy when it reports earnings.
