Key Notes
- Nvidia was down 6.75% in an intraday heatmap while its six Magnificent Seven peers rose.
- The board’s independent review keeps attention on leadership, with Huang remaining chief executive.
- Nvidia’s next earnings report is scheduled for November 17 against a $108 billion quarterly revenue outlook.
Nvidia (Nasdaq: NVDA) sat out Monday’s Big Tech rebound, with an intraday market heatmap showing its shares down 6.75% while all six of its Magnificent Seven peers traded higher.
The split left the AI chipmaker facing a company-specific leadership overhang on a day when investors were buying many of the technology stocks hit by last week’s selloff. Nvidia’s board is reviewing reports that chief executive Jensen Huang was targeted by foreign intelligence, following his admission of an affair.
Six Megacaps Move Higher
The same November 9 snapshot showed gains across the rest of the Magnificent Seven:
- Apple (Nasdaq: AAPL): up 2.29%.
- Microsoft (Nasdaq: MSFT): up 2.27%.
- Alphabet (Nasdaq: GOOGL): up 3.26%.
- Amazon (Nasdaq: AMZN): up 5.63%.
- Meta Platforms (Nasdaq: META): up 5.11%.
- Tesla (Nasdaq: TSLA): up 3.83%.
Amazon’s gain and Nvidia’s decline produced a gap of more than 12 percentage points between the two stocks. These figures capture one point in intraday trading, rather than closing returns.
Nvidia was the only falling member of that seven-stock group in the heatmap. Its weakness extended the earlier selloff even as buyers returned to other large technology companies.
Board Review Keeps Huang in Focus
Nvidia’s board statement on Sunday put the investigation under a committee of 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 apologized for being unfaithful to his wife in a staff letter published the same day. He said he supported the review and would cooperate fully. His letter did not identify the other person or establish whether espionage occurred.
For shareholders, the immediate uncertainty concerns the founder who has led Nvidia through the AI boom. The board has not announced a change in leadership or a timetable for completing its investigation.
November 17 Earnings Put Revenue Back in View
Nvidia is scheduled to report results on November 17 for its fiscal third quarter, which ended October 25. Its previous revenue forecast was $108 billion, plus or minus 2%, following second-quarter sales of $96.2 billion, up 106% from a year earlier.
That outlook assumed no Data Center compute revenue from China. Sunday’s board announcement did not provide a revised financial forecast.
The company continued its product rollout Monday, introducing GR00T 2 and robotics training tools at the Conference on Robot Learning. Meeting the $108 billion revenue outlook would add about $11.8 billion in sales from the preceding quarter, an increase of roughly 12%.
