Nvidia Sheds $430B in Two Days as Jensen Huang Faces Calls to Resign

Nvidia has lost about $430 billion in market value in two days, as pressure grows in Washington over CEO Jensen Huang's ties to a businesswoman U.S. intelligence reportedly concluded was a Chinese spy.

Nvidia shares closed down 5.5% at $168.89 on Tuesday, following a 4.3% drop on Monday, according to Yahoo! Finance. That leaves the stock down about 9.5% since Friday's close, wiping out roughly $430 billion in market value, according to Yahoo! Finance data. The sell-off, which saw shares slide as much as 8% on Monday, has wiped out all of Nvidia's gains for 2026. The shares were up 3.8% at $175.23 in premarket trading early on Wednesday.

The independent members of Nvidia's board have retained Joon Kim, a former acting U.S. Attorney for the Southern District of New York, and his firm Wachtell, Lipton, Rosen & Katz to carry out the investigation it announced on Sunday, the company said on Tuesday.

Calls for Huang to go

Sen. Kevin Cramer, a North Dakota Republican on the Senate Banking Committee, called on Huang to step down, telling Politico late Tuesday that the risk of extortion was too great. "The potential for extortion is so tremendous that something as sensitive as Nvidia chips, I just think he's got to go," Cramer said, adding that the board's internal investigation was "fine, but not nearly enough."