Nvidia closed 4.27% lower on Monday as its board investigated Jensen Huang’s affair with an alleged Chinese spy, while rival chipmakers and the wider market rallied hard.
MoneyTurkey Derivatives Desk | 9 November 2026, after the New York close
Key points
- Nvidia closed at $178.67, down 4.27% from Friday’s $186.64
- Advanced Micro Devices rose 13.26%, Marvell 9.49% and Broadcom 8.78% (CNBC)
- The S&P 500 gained 2.3% to 7,549.94 and the Nasdaq Composite 2.7% to 25,253.14
Nvidia was the odd one out on a strong day for chip stocks. Its shares ended at $178.67, down 4.27%, Yahoo Finance data show, after the board opened an independent investigation on Sunday. The review follows New York Times and Financial Times reports that US intelligence agencies believe Alice Huang, an executive at the cloud company Megaspeed, passed information to Beijing, and that she had a relationship with the chief executive. The BBC put the hit to Nvidia’s market value at about $250 billion (about £190 billion).
Huang, 63, told staff in an email that he had been unfaithful to his wife and had “fallen short” of his responsibilities, CNBC reported. The board said it has “no reason to believe that either national security or Nvidia secrets were compromised” and that Huang will cooperate. China’s Foreign Ministry called the spy claims unsubstantiated.
Money moved to rivals
The rest of the sector bounced after last week’s AI sell-off. AMD jumped 13.26%, Marvell 9.49%, Broadcom 8.78%, Arm 6.69%, Intel 5.49% and Qualcomm 3.66%, according to CNBC. The S&P 500 closed up 2.3% at 7,549.94, the Nasdaq Composite up 2.7% at 25,253.14 and the Dow up 2.2% at 52,389.75. Brent crude settled near $92.90 a barrel, Yahoo data show.
What traders are weighing
Huang owns about 3.6% of Nvidia, according to LSEG data cited by Reuters, but there are no dual-class shares giving him voting control, and dozens of executives report to him directly. Most analysts do not expect him to step down, Reuters said. Earlier on Monday, prediction markets put the odds of a Huang exit by December at 35%, as we reported this morning. Stephen Neal, the board’s lead independent director, is likely to be central to the review, CNBC said.
What to watch
- Any findings or timeline from the board review
- Calls in Washington for briefings and congressional inquiries
- Tuesday’s US CPI report at 13:30 London time
For information only. Not investment advice.
