Nvidia Erases 2026 Gains as Republicans Threaten Jensen Huang With Subpoena
Nvidia shares fell more than 6% Tuesday, extending a two-day decline that threatened to erase over $470 billion in market value. The stock was down 18.42% for November and 31.4% from its recent peak, amid scrutiny of CEO Jensen Huang’s reported contacts with a former chip-company executive suspected of passing information to Beijing. House Republicans threatened to subpoena Huang unless he agrees to a closed-door briefing; no subpoena had been issued. Nvidia’s board has opened an independent investigation and says it has no reason to believe secrets were compromised. Shareholders have also filed a proposed class-action suit. The selloff coincides with investor concerns about AI infrastructure spending and competition from Google’s new AI chips. Nvidia is due to report earnings November 17.
