Nvidia Slides Into Bear Market as Google Launches Rival AI Chips and Board Probes CEO's China Ties
NVDA is trading near its 52-week low of $164.27 (9.4% above the low) on elevated volume (3.7× avg).
Summary
Nvidia shares fell to about $177 on Monday, roughly 26% below their October record, putting the stock in a bear market. The drop comes as Google unveiled two rival AI chips, a direct competitive challenge to Nvidia's data center franchise, and as a board inquiry into CEO Jensen Huang's acknowledged affair with Alice Huang — whom U.S. intelligence reportedly suspected of spying for China — intensifies. A separate probe into suspected smuggling of Nvidia chips to China via Megaspeed has been referred to the Justice Department. Alphabet shares rose 2.4% toward $295 on the chip launch, underscoring the competitive read-through. A Wealth Enhancement CIO says governance now factors into Nvidia's valuation. The board's findings and the next earnings report are the key tests for whether this selloff finds a bottom.
At the time of this announcement, NVDA was trading at $179.74 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.3T. The 52-week trading range was $164.27 to $243.37. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Binance News.