Get All Access for $5/mo

Nvidia CEO Jensen Huang Lost $10 Billion in 1 Day Nvidia's stock faced an unprecedented drop on Tuesday.

By Erin Davis

Key Takeaways

  • Nvidia’s shares tumbled over 9% in regular U.S. trading Tuesday, marking the company's worst day ever.
  • CEO Jensen Huang, the company's largest individual shareholder, lost $10 billion in personal wealth.
  • Nvidia shares have dropped more than 20% since its mid-June.

Nvidia's stock faced an unprecedented drop on Tuesday, wiping off $279 billion in market value, the largest one-day loss in U.S. history. The loss is worth more than all of the shares of many major U.S. businesses, including McDonald's and Chevron, per CNN.

Nvidia's shares tumbled over 9% in regular U.S. trading and continued the descent post-market by an additional 2%, after a report of a subpoena from the Department of Justice relating to an antitrust investigation, per Bloomberg.

Related: Why Are Nvidia Earnings So Important? They Could Be a 'Market Mover,' Says Expert

Jensen Huang, the CEO and Nvidia's top individual shareholder, also took a personal hit with a $10 billion drop in his wealth.

Nvidia CEO Jensen Huang - Photo by I-HWA CHENG/AFP | Getty Images

Shares were up about 1% Wednesday afternoon, according to CNBC.

Nvidia has about 80% of the market for AI chips. In response to the DOJ antitrust investigation, a company spokesperson told the outlet that Nvidia "wins on merit, as reflected in our benchmark results and value to customers, who can choose whatever solution is best for them."

Despite the losses, Nvidia is still up 118% year to date, per Reuters.

Related: Why Millionaire Nvidia Employees Are Still Working Until 2 a.m.

Erin Davis

Entrepreneur Staff

Freelance Writer

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Leadership

Why Your AI Strategy Will Fail Without the Right Talent in Place

Using fractional AI experts through specialized platforms allows companies to access top talent cost-effectively, drive innovation and scale agile strategies for growth.

Business News

Here's What the CPI Report Means for Your Wallet, According to JPMorgan and EY Experts

Most experts agree that there will be another rate cut next week.

Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

Productivity

6 Habits That Help Successful People Maximize Their Time

There aren't enough hours in the day, but these tips will make them feel slightly more productive.

Science & Technology

Use This Framework to Successfully Integrate AI Into Your Business Operations

Here's how to ensure both innovation and compliance when using AI in your organization.