Nvidia Falls Another 5 Percent to About $168.89: Two-Day Slide Erases Roughly $470 Billion in Market Value
Nvidia shares closed down more than 5 percent on November 10 at about $168.89, extending Monday's 4.3 percent drop and erasing roughly $470 billion in market value over two sessions. The company's market capitalization fell to a little over $4 trillion, leaving it second to Apple, as investors panicked over CEO Jensen Huang's admitted affair with Megaspeed executive Alice Huang, whom U.S. officials suspect of being a Chinese spy.
President Trump said on the evening of November 9 that he had spoken with Huang, who told him he had no idea the woman was a spy, and that the FBI is looking into the matter. The Justice Department has taken over a related probe into whether her company smuggled cutting-edge chips to China; reports allege some $7.5 billion in restricted Nvidia chips reached China through a related network since 2023, though no public finding says Nvidia knowingly violated export controls. Nvidia's board has hired the New York law firm Wachtell Lipton to lead an independent investigation.
In Congress, the chairs of three House committees have already asked Huang to appear for a closed-door briefing on November 18, and House Democratic Leader Hakeem Jeffries has called for more information and tighter restrictions on chip sales to China. China's Foreign Ministry spokesman Guo Jiakun said on November 9 that the spy allegation was unsubstantiated and a smear. Nvidia is due to report earnings on November 17.
Since GSM began following this matter, our newsroom has written to NVIDIA's media department to inquire about it and had not received a formal response as of publication. GSM will continue to follow official developments.
Source: New York Post
Published by GSM · USA (original Chinese edition)
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