Nvidia Wipes Out $1.7T in Market Value Since October as Board Reviews Jensen Huang

Nvidia's market value has shrunk by $1.7 trillion since October 6, a steep reversal from the chipmaker's early-October peak. The stock closed at $178.67 on November 9, a 26% drop from its October high. The selloff landed across semiconductors broadly, but Nvidia's board added its own headline: an independent review concerning CEO Jensen Huang.

The board review is the wildcard. Markets are watching for its outcome and what it means for Huang's position at the company. Details on what triggered the review weren't disclosed.

Traders in prediction markets have already adjusted their read on where Nvidia's stock goes next, according to reports, as the drawdown reshapes sentiment around the AI trade.

Next up on the calendar: Nvidia's revenue and gross margin figures, which will show whether the business itself is holding up beneath the stock pressure. Changes in U.S. export controls and customer demand for Nvidia's products are the other moving pieces that could swing pricing from here.

The selloff chatter circulating alongside the drop includes talk of an AI bubble bursting, a theme that gains volume every time chip stocks slide.