Nvidia Sheds $470 Billion in 2 Days as CEO Scandal Deepens AI Selloff

3 articles · Updated · Reuters · Nov 11

$470 billion in Nvidia market value was set to vanish over two sessions, with the stock down 6.5% Tuesday as concerns grew over fallout from CEO Jensen Huang's alleged affair with a Chinese businesswoman accused of spying for Beijing.
A hot U.S. inflation report added pressure by lifting expectations for another Federal Reserve rate hike next month, while Nvidia's hiring of lawyers for an internal probe and complications around an Ohio data-center project fed the selloff.
The retreat spread across AI winners: Dell fell 4.8%, Sandisk 4.5%, and neocloud firms including Iren, Nebius and CoreWeave dropped 3% to 10%; all three neocloud names are down at least 40% since the Nasdaq's October 6 high.
The Nasdaq slipped 1% and has swung by at least 1% on 14 sessions in the past month, underscoring broader volatility even as investors look ahead to Nvidia earnings next week and Anthropic's planned IPO.