Nvidia Stock Today: Down Nearly 5% as Trump Calls Huang…

Nvidia shares fell 4.8% in US trading on Monday as investors assessed the fallout from an independent board investigation involving CEO Jensen Huang. The decline exceeded 6% in Frankfurt, while Wall Street analysts focused on a question that has rarely been raised about the AI chipmaker: what happens to Nvidia if Huang cannot remain CEO?CNBC’s 09:05 GMT report put Nvidia’s premarket decline at 4.8%. Reuters reported a 4.5% loss in its 10:10 GMT market snapshot, while CNBC’s 11:04 GMT update showed Frankfurt-traded shares more than 6% lower. Bloomberg separately reported a decline of about 6% in early trading.The weakness continued after the US opening bell. At 11:51 a.m. ET, Nvidia was trading at $176.41, down 5.48% from Friday’s closing price of $186.64, according to StockAnalysis market data. Shares had opened at $173.07 and reached an intraday low of $170.24 before recovering part of the decline.The move was relatively concentrated in Nvidia. Other US chipmakers, including Intel, Marvell, Qualcomm and Arm, were down more than 1% in premarket trading, while Asian technology shares recovered across the region. The difference suggests investors were initially treating the developments as a company-specific governance concern rather than evidence of a broader disruption to semiconductor demand.

Trump Calls Huang an “Honorable Guy”

The selling followed weekend reports by The New York Times and the Financial Times, citing US intelligence sources, about an alleged foreign intelligence effort involving a business executive with whom Huang acknowledged having an affair. Nvidia’s board announced an independent investigation, saying it had no reason to believe national security or company secrets had been compromised. No public findings have established the espionage allegations. FinanceFeeds previously covered Huang’s admission and the board investigation and Nvidia’s initial share-price reaction ahead of Monday’s US session. The company’s position is set out in its November 8 board statement.US President Donald Trump defended Huang on Sunday, praising his contribution to the country while saying he had not discussed the allegations with the Nvidia chief executive.”I think he’s an honorable guy. I think he probably has an excuse for it. You have to hear it,” Trump told reporters. He also said Huang had “done an amazing job for our country.”Trump’s comments provide public support for Huang at a sensitive moment, although they do not resolve the questions facing Nvidia’s board or the concerns investors have raised about leadership continuity.

Wall Street Focuses on Nvidia’s Dependence on Huang

Dan Ives of Yorkville Ives & Co. described the episode as a “black eye moment” for Huang, warning that it could trigger multiple congressional inquiries and leave an overhang on Nvidia shares.”The clear worry is, does Jensen stay on as CEO?” Ives said. He acknowledged that the Street would probably expect Huang to remain in the position but argued that the board investigation creates uncertainty. He also dismissed talk of replacing Huang as “comedy”, reflecting how central the founder remains to Nvidia’s strategy and investor narrative.Joachim Klement, investment strategist at Panmure Liberum, offered a more contained assessment, saying the impact “is currently contained to Nvidia”. However, he warned that the consequences could spread to other semiconductor companies if Huang’s position became endangered and Nvidia reduced its support for businesses in Asia or the United States.Ben Emons of Fed Watch Advisors also highlighted the succession question. “Every high-profile company carries key-person risk, and Nvidia is no exception,” he said, adding that the initial handling of the situation and subsequent disclosures could weigh on investor confidence.The different assessments point to two separate risks. The first is the immediate uncertainty surrounding Huang’s leadership. The second is whether an extended investigation creates additional regulatory and operational pressure for a company whose founder remains closely associated with its strategic direction.

Beijing Rejects the Espionage Allegations

China’s Foreign Ministry rejected the allegations on Monday. Spokesperson Guo Jiakun said the government considered the claim unsupported and politically motivated.”The ‘Chinese spy’ allegation is purely unsubstantiated and directed at smearing China,” Guo said during the ministry’s regular press conference.Beijing’s response adds a geopolitical dimension to the controversy, given Nvidia’s position in the US-China semiconductor competition and Huang’s longstanding efforts to preserve access to Chinese customers. The investigation could attract further scrutiny of the company’s relationships, information-security procedures and exposure to export-control restrictions, although no wrongdoing by Nvidia or Huang has been established.FinanceFeeds previously examined the wider political pressure in Nvidia Faces Tougher Washington Scrutiny Despite CEO Jensen Huang’s Trump Ties. Three Republican House committee chairs have requested a closed-door briefing with Huang on November 18, with a response or alternative date requested by November 11.

November 17 Earnings Become the Next Market Test

Nvidia’s next scheduled financial catalyst is its third-quarter fiscal 2027 results on November 17. The company confirmed that its earnings conference call will begin at 2 p.m. Pacific Time, or 5 p.m. Eastern Time.The results will give investors an opportunity to assess whether the current controversy has affected the company’s operating outlook, although the board investigation may remain unresolved by then.For now, the market is pricing a governance and leadership concern rather than a confirmed deterioration in Nvidia’s chip business. Trump’s public support may offer some reassurance, but the central question remains with the independent directors: whether the investigation can establish what happened, address the national-security concerns raised in the reporting and preserve confidence in the company’s leadership.