Nvidia CEO Jensen Huang Lost $10 Billion in 1 Day

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

→ Continue reading at Entrepreneur

More from author

Related posts

Advertisment

Latest posts

Nvidia has more than just billions of dollars in value to lose if its stock keeps falling | CNN Business

A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. ...

The Trump policy that freaks out economists the most | CNN Business

New York CNN  —  Former President Donald Trump wants to spend trillions of dollars on tax cuts. His plan...

The Murdoch family is secretly battling over succession. News outlets are asking a court to make it public | CNN Business

New York CNN  —  A coalition of media organizations, including CNN, has petitioned a Nevada court to open up the secret proceedings...