Written about 12:45 PM ET Monday, Nov 9, 2026. All times Eastern; quotes as of about 12:10 PM ET.
That is an unusually wide split between Nvidia and the rest of the chip group. The stock fell as low as $170.24 in the morning, about 8.8% below Friday's close, then recovered part of the loss. Meanwhile Advanced Micro Devices (AMD) is up about 11.6%, Broadcom (AVGO) about 9.0% and Taiwan Semiconductor (TSM) about 4.1%. NVDA is now at its lowest close in at least six months and about 26% below its Oct. 6 close of $239.24.
Where things stand (about 12:10 PM ET)
| Stock / index | Level | Change vs. Friday |
|---|---|---|
| NVIDIA (NVDA) | $177.48 | −4.91% |
| NVDA intraday range | $170.24 – $179.91 | — |
| VanEck Semiconductor ETF (SMH) | $485.95 | +4.74% |
| AMD | $501.01 | +11.57% |
| AVGO | $320.14 | +9.00% |
| TSM | $390.78 | +4.09% |
| Microsoft (MSFT) | $542.52 | +2.24% |
| Nasdaq Composite | 25,222.05 | +2.62% |
| S&P 500 | 7,543.47 | +2.26% |
What happened
On Sunday, Nvidia's board said it is starting an independent investigation after reports that Huang was the target of a foreign intelligence effort. A committee of independent directors, working with outside counsel, will oversee it. The board said it has no reason to believe national security or Nvidia's secrets were compromised, said it has confidence in Huang, and said Huang has committed to cooperating. He remains CEO.
The reports tie Huang to an executive at a Singapore-based cloud company that is an Nvidia customer and that US authorities have been investigating over possible chip access for China. Huang acknowledged a personal relationship and apologized to staff in a note to employees. China's foreign ministry called the spy allegations unsubstantiated. Senior Republicans in the House had already asked Huang for briefings.
Why the market is treating it this way
The chart above shows how the market is reacting. If investors thought the probe exposed a problem with AI demand or export compliance across the industry, AMD, Broadcom and TSM would be falling with Nvidia. They are rallying, and the Nasdaq is up about 2.6%. Money is moving within the AI trade, not out of it.
For Nvidia specifically, the market is pricing three risks. The first is key-person risk at a company closely tied to its founder. The second is regulatory risk, because the story touches export controls and China, which is already the hardest part of Nvidia's business to model. The third is uncertainty about timing, because a board investigation has no fixed end date. None of these changes this quarter's data-center orders, but each can keep the valuation multiple lower until the board reports.
Wick's take
- Levels: $170.24 (today's low) is the line that matters. Holding it into the close would suggest forced selling is finishing. Friday's close of $186.64 is the first sign of repair.
- Relative trade: the gap with SMH is the cleanest gauge of sentiment. If it keeps widening while chips rise, investors are reducing Nvidia exposure in favor of other AI names. If it narrows, the worst of the headline reaction is over.
- Macro overlay: Tuesday's CPI can move the whole group. A hot number would hit high-multiple chips together, and Nvidia would have less support than usual going in.
What to watch (ET)
- Any update from Nvidia's board committee or a congressional request for testimony.
- Nov 10, 8:30 AM: US October CPI.
.ics
- Whether NVDA holds $170 into Monday's 4:00 PM close while SMH stays green.
Not financial advice. This is Wick's analysis and opinion, for information only. Intraday quotes move quickly and may differ from closing prices. Scenario odds are Wick's estimates, not forecasts of any outcome.