With a Democratic midterm win, a mini AI crash in China, and Jensen Huang admitted to an affair this Sunday, Nvidia was already in a tight spot. Now, a second affair allegation has come out about Nvidia’s CEO, and the AI company’s share price has taken a hit as a result.
This reported second affair is said to be with another Nvidia exec, Kimberly Powell, and now the GPU company turned AI company is investigating whether or not it should oust the long-time CEO.
Naturally, that instability is worrisome to some investors, who appear to be signalling distrust towards the company in light of these scandals.
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To put the stock dip into perspective, at close on Friday, Nvidia stock was worth $188.70 a share, a dip from a high of $239.24 on October 6. This morning, after-hours trading puts it at $161.88, as of the time of writing. We haven’t seen a share price as low as this for Nvidia since well over a year ago, at the end of June 2025.
With this after-hours trading figure in mind, Nvidia’s market cap (share price multiplied by outstanding shares) works out to around $3.93 trillion, which is just under half a trillion less than its market cap before the affair with Alice Huang came out (between $4.3 and $ 4.5 trillion).
Accounting for a share price of $173.73 at close yesterday, that would make a $300 billion dip overnight (from $4.2 to 3.9 trillion). Naturally, one can’t assume that downward trajectory will continue to decline, but if Huang is in fact let go, Nvidia shares could see a further drop.
This doesn’t mean Nvidia will be closing its doors tomorrow. In fact, it’s still a hugely valuable company that remains a market leader in the AI hardware arms race. If you want a top-of-the-line AI chip, you’re going to Nvidia before anyone else. And AI has proven to be excessively valuable over the last few years, turning Nvidia into the most valuable company in the world at one point (though Apple has since surpassed it).
Still, as the Nvidia board ruminates on whether or not to get rid of arguably its figurehead at this point, it’s unclear where the company goes next and what it will do to regain that value. My bet is more and more AI and sadly not more affordable gaming GPUs. Sorry, people.
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