Daily newsletter · Tue 10 Nov 2026
Nvidia fell 4.3% on a boardroom problem while the rest of the chip trade surged
Nvidia closed at US$178.67 on Monday, down 4.27%. Everything around it went the other way. AMD rose 13.26% to US$508.58 and Broadcom added 8.8%.
So what is Nvidia actually investigating? The board has opened an independent inquiry into reports that Huang was the target of a foreign intelligence effort. A committee of independent directors is running it, with outside counsel.
The board also said it has no reason to believe that national security or Nvidia's own secrets were compromised. Huang told staff, in a message the company released, "I was unfaithful to my wife". China's foreign ministry has called the underlying reporting baseless.
AMD had a much better Monday. Oppenheimer lifted the stock to outperform on data centre sales that nearly doubled last quarter, and the shares have now recovered all of Thursday's 17.26% collapse and a bit more.
an inquiry into a chief executive does not change how many chips Nvidia can ship, and the company reports on 19 November. I'd want to see whether a single large customer hesitates before treating this as more than a bad fortnight for the share price.
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All stories →- Saturday 14 November The chip trade cracked on Friday and AMD was the worst stock in the S&P 500
- Thursday 12 November Memory chip stocks rallied after CoreWeave promised to stay out of the bond market
- Thursday 1 October Micron's quarterly revenue is nearly five times what it was a year ago
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