Nvidia market value sinks below US$4 trillion after CEO Jensen Huang resigns

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Nvidia market value falls below US$4 trillion after Jensen Huang resigns amid scandal, with shares plunging and investors fleeing. Read more at straitstimes.com.

Nvidia CEO Jensen Huang resigned following revelations he had an affair with a woman accused of spying for China.

NEW YORK – Nvidia’s stock plunged at the open on Nov 12, taking the chipmaker’s market capitalisation below US$4 trillion (S$5.1 trillion) for the first time since 2025, after chief executive officer Jensen Huang resigned following the revelation of two affairs, one with a suspected Chinese spy.

The shares were down as much as 14% in early trading, dropping to their lowest since June 2025, erasing as much as US$601 billion in market value. If that holds through the close, it will be the largest one-day market capitalisation wipe-out for any stock ever.

The stock has shed roughly 35% from a record hit in early October, cutting its market value by US$2 trillion in a matter of weeks. Nvidia was the biggest company in the world just a few weeks ago, but at less than US$3.8 trillion, it is currently below Apple and Microsoft.

“I’ve never seen something quite like this, so we’re in new territory,” said Ted Mortonson, technology strategist at Robert W. Baird & Co. “On a scale of one to 10, this is a 10.”

Huang’s ability to stay at the helm of the most important artificial intelligence chipmaker has been under scrutiny since Nov 8, when he admitted to a romantic relationship with Alice Huang, a former executive at the Singapore data centre firm Megaspeed International who is suspected of spying for China.

Then, on Nov 11, The New York Times reported that Huang also had a relationship with Kimberly Powell, Nvidia’s vice-president of healthcare, citing unidentified people who worked at the company.

Nvidia announced Huang’s departure before the market opened on Nov 12, naming chief financial officer Colette Kress interim CEO and board member Harvey Jones as its first-ever chairman.

The news comes ahead of Nvidia’s third-quarter earnings report on Nov 17. The company expected to show strong growth amid robust demand for AI chips, but the scandals are causing investors and…

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