Key Notes
- Nvidia touched $170.24 on November 9 before closing at $178.59, down 4.31%, after reaching a seven-month intraday low.
- A Kalshi contract on Huang leaving before January 1, 2028 last traded at 52 cents in a snapshot checked at 21:47 UTC.
- Nvidia’s directors have expressed confidence in Huang while independent directors and outside counsel conduct their review.
Nvidia (Nasdaq: NVDA) fell to a seven-month low on Monday as investors weighed the fallout from chief executive Jensen Huang’s admitted affair and the board’s investigation into reports that he was targeted by foreign intelligence.
The stock touched $170.24, its lowest intraday level since March 31, according to Reuters and price data. It recovered to close at $178.59, down 4.31%, after falling almost 9% at the session’s worst point. The close left it about 25% below its October 6 record closing price.
Huang Exit Contract Trades at 52%
A Kalshi contract on Huang leaving as CEO before January 1, 2028, last traded at 52 cents in a snapshot checked at 21:47 UTC on November 9, implying a 52% probability. The bid was 52 cents and the ask 53 cents.
That was higher than the 36% quoted in the exchange’s earlier analysis on Monday for the same deadline. The contract covers a departure by the end of 2027, giving it a much longer horizon than bets on an exit this year.
Its rules require Huang to actually leave the role, with the departure announced by him or on his behalf before the deadline. Merely announcing plans to leave later does not qualify. The contract can resolve positively for a qualifying departure unrelated to the current investigation, so its price is not specifically a bet on dismissal over the affair.
Directors Back Huang as the Review Begins
Nvidia’s November 8 board statement assigned the investigation to independent directors assisted by outside counsel. Directors expressed confidence in Huang and his leadership team and said they had no reason to believe national security or company secrets had been compromised.
Huang acknowledged being unfaithful to his wife in a staff letter published the same day, apologized and pledged to cooperate with the review. His admission does not establish that espionage occurred. The board has not announced a leadership change.
The uncertainty kept Nvidia outside Monday’s Big Tech rebound, even as buyers returned to other large technology companies after last week’s selloff.
November 17 Earnings Put Sales Back in View
Nvidia will report results on November 17 for its fiscal third quarter, which ended October 25. Its August revenue outlook called for $108 billion, plus or minus 2%, following second-quarter sales of $96.2 billion.
Reaching that target would add almost $12 billion in quarterly sales. Monday’s session nevertheless left Nvidia lower while much of the technology sector rallied, showing how heavily uncertainty around its founder is weighing alongside expectations for AI demand.
