In brief
- Nvidia dropped 18.42% in November through Tuesday afternoon, erasing all its gains for 2026.
- A House Republican chairman threatened to subpoena CEO Jensen Huang unless he responds by November 11 to a request for a closed-door briefing.
- Nvidia’s board has opened an independent probe, investors have filed a lawsuit, and competition in AI chips is intensifying.
Nvidia shares plunged to $166.95 Tuesday afternoon, leaving the AI chipmaker down 18.42% for November and wiping out all the gains it had accumulated in 2026.
The selloff accelerated as congressional Republicans threatened to subpoena CEO Jensen Huang over his reported relationship with a suspected Chinese intelligence operative.
At that price, Nvidia was roughly 10.5% below its $186.50 closing price at the end of 2025 and 31.4% below its recent $243.37 peak. November is shaping up as its worst month since September 2022, when shares lost roughly 19.6%; the company suffered an even deeper 32% crash in April of that year.
Tuesday’s drop exceeded 6% in afternoon trading, after a 4.3% fall on Monday. The two-day decline was on track to erase more than $470 billion in market value.
