Nvidia Loses $430B as Jensen Huang Faces Resignation Calls

Nvidia has shed approximately $430 billion in market value over two days amid mounting pressure in Washington regarding CEO Jensen Huang's ties to a businesswoman whom U.S. intelligence reportedly concluded was a Chinese spy, according to Decrypt.

Nvidia shares closed down 5.5% at $168.89 on Tuesday, following a 4.3% drop on Monday, according to Yahoo! Finance data. The decline leaves the stock down about 9.5% since Friday's close, wiping out all of Nvidia's gains for 2026. Shares were up 3.8% at $175.23 in premarket trading early on Wednesday.

Board Investigation and Political Pressure

The independent members of Nvidia's board retained Joon Kim, a former acting U.S. Attorney for the Southern District of New York, and his firm Wachtell, Lipton, Rosen & Katz to carry out the internal investigation announced on Sunday, according to the company.

Political figures have ratcheted up pressure on the leadership. Sen. Kevin Cramer called on Huang to step down, stating that the risk of extortion was too high given the sensitivity of Nvidia chips. Former National Economic Council director Larry Kudlow similarly urged Huang to resign during his Fox Business show. Meanwhile, House Foreign Affairs Committee Chairman Brian Mast stated he was prepared to subpoena Huang unless he responded by Wednesday to a request for a closed-door briefing on November 18.

## Key facts

• Nvidia lost about $430 billion in market value over two days following a 5.5% drop on Tuesday and a 4.3% drop on Monday.
• Independent board members hired Wachtell Lipton and Joon Kim to investigate CEO Jensen Huang's ties to Alice Huang.
• Sen. Kevin Cramer and Larry Kudlow publicly called for Jensen Huang to step down from his position.
• House Foreign Affairs Committee Chairman Brian Mast requested a closed-door briefing for November 18 or threatened a subpoena.