Nvidia's stock price fell sharply after a second affair allegation emerged involving CEO Jensen Huang and Nvidia executive Kimberly Powell. After-hours trading put the stock at $161.88 per share, down from $188.70 at Friday's close and a recent high of $239.24 on October 6. The decline wiped roughly $300 billion from Nvidia's market cap overnight, reducing it to around $3.93 trillion from approximately $4.2 trillion.
The board is investigating whether to remove Huang as CEO. Investors have signaled concern over the instability. The stock hasn't traded this low since late June 2025.
Despite the losses, Nvidia remains the market leader in AI hardware. The company is still valued at nearly $4 trillion and controls the primary market for high-end AI chips. Apple has surpassed Nvidia as the world's most valuable company, though Nvidia held that position at one point earlier this year.
The article notes the uncertainty around Nvidia's next steps if Huang is removed, and questions whether the company can regain lost value.