Nvidia Erases 2026 Gains as Republicans Threaten Jensen Huang With Subpoena

Nvidia shares fell sharply on Tuesday, erasing the gains they had made in 2026, as US congressional Republicans threatened to subpoena chief executive Jensen Huang. They want him to attend a closed-door briefing about his reported interactions with Alice Huang, a former executive at a chip-buying company who is suspected by US authorities of passing information to Beijing. The allegations have not established that Jensen Huang knowingly disclosed confidential information or broke export rules.

Nvidia closed at $166.95, about 10.5% below its end-2025 price and 31.4% below its recent peak; its two-day fall could wipe more than $470 billion from its market value. Committee chairman Brian Mast said Huang had until 11 November to respond to a request for a briefing on 18 November, but no subpoena had been issued. Nvidia’s board has opened an independent investigation, and the company faces a proposed shareholder class action over alleged failures to disclose risks. The share decline also comes amid doubts about AI spending and competition from Google’s new chips; Nvidia is due to report earnings on 17 November.