Nvidia Sheds $650B This Week, Largest Weekly Market Cap Loss on Record
NVDA is trading near its 52-week low of $148.8 (7.7% above the low).
Summary
Nvidia's market cap fell below $4 trillion Friday, capping roughly $650 billion of value lost this week — the largest weekly market cap decline on record. The selloff follows Jensen Huang's resignation as president, CEO and board member effective November 11, after the board acted on revelations about extramarital affairs, including one with a suspected Chinese spy. As part of its CEO search, the board has approached Arm's Haas, while interim leadership under CFO Colette Kress and the unresolved China-ties scrutiny from House committees remain the open questions. From the October 6 peak of about $5.77 trillion, the company has lost $1.92 trillion in market value, now around $3.8 trillion — a decline larger than the entire current market caps of Tesla, Meta Platforms and Berkshire Hathaway combined. Shares are down 14% year to date, the first down year since 2022's 50% drop. The scale of the drawdown shows the market is repricing leadership risk at the core of the AI trade, not just a single executive departure.
At the time of this announcement, NVDA was trading at $160.31 on NASDAQ in the Technology sector, with a market capitalization of approximately $3.9T. The 52-week trading range was $148.80 to $243.37. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.