Nvidia has lost more than $1.8 trillion in market value since its October peak, with the chipmaker’s valuation falling below $4 trillion for the first time since July 2025 as its shares extended their decline following the departure of co-founder Jensen Huang.
The company’s market capitalisation stood at approximately $3.92 trillion at Friday’s close, November 13, compared with a record of about $5.77 trillion reached on October 6.
According to Dow Jones Market Data, Nvidia shed $573 billion in market value during the week, its largest weekly loss on record.
The latest decline followed Huang’s resignation as chief executive on November 12, after controversy surrounding his personal relationships and allegations involving a woman suspected by US intelligence agencies of having links to Chinese intelligence.
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The company’s board appointed Chief Financial Officer Colette Kress as interim CEO while it searches for a permanent replacement. Huang had led Nvidia since co-founding the company in 1993.
His departure has added uncertainty to a business whose expansion into artificial intelligence has been closely associated with his leadership. Huang played a central role in Nvidia’s product strategy, major customer relationships and investments across the AI supply chain.
However, the pressure on the shares extends beyond the leadership crisis. Concerns about the sustainability of spending on AI infrastructure have also weighed on technology stocks, particularly companies whose valuations have benefited from expectations of continued expansion in data-centre investment.
Nvidia’s position in the AI industry makes it particularly exposed to any slowdown in that spending. Its graphics processing units power many of the data centres used to train and operate AI models, while the company has also invested in businesses building infrastructure around its chips.
That financing strategy has attracted scrutiny over whether some of the industry’s demand is being supported by money circulating within the same AI ecosystem.
The pressure has also spread to other semiconductor and data-centre companies. On Friday, shares of Advanced Micro Devices, Broadcom and other chipmakers declined as the sector’s sell-off widened.
The decline has also changed Nvidia’s position among the world’s most valuable companies, with its market capitalisation now below the $4 trillion threshold it crossed earlier in the year.
Attention is now turning to Nvidia’s November 17 earnings announcement, which will provide an update on chip demand, data-centre spending and the company’s outlook under Kress.
The results will come at a critical point for the company. Beyond maintaining its lead in AI processors, Nvidia must demonstrate that its growth strategy can continue without the executive who shaped its rise into one of the world’s largest technology businesses.
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