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Nvidia shares closed at $168.89 on Nov. 10, down 9.5% over two sessions and 29.4% from their Oct. 6 record close. The roughly $428 billion two-day market-value loss is an estimate based on closing prices and Nvidia’s reported share count; reporting cited broad pressure on technology stocks as well as scrutiny and legal developments involving the company.
Nvidia shares closed at $168.89 on Tuesday, Nov. 10, down from $186.64 at the Nov. 6 close. Using the company’s reported share count, that $17.75 per-share decline implies an estimated $428 billion loss in market value across the two trading sessions. The calculation is based on closing prices and is not a company-reported figure.
The drop followed a volatile stretch. Nvidia fell 9.26% on Nov. 5, rebounded 2.78% on Nov. 6, then lost 4.27% on Nov. 9 and 5.47% on Nov. 10. From the Nov. 4 close of $200.13 to Nov. 10, the shares declined 15.6% across four trading sessions, according to calculations from the cited Nasdaq closing prices.
Nvidia’s Nov. 10 close was 29.4% below its Oct. 6 record closing price of $239.24. The stock also stood 30.6% below its Oct. 6 intraday high of $243.37. Applying the same share count to the fall from the record close gives an estimated $1.7 trillion reduction in market value; that, too, is a calculation rather than a reported company figure.
Reporting identified pressure across technology stocks alongside developments specific to Nvidia. Sources cited concern about the pace of data-center construction, an inflation reading that exceeded economists’ expectations, a board investigation announced Nov. 8, a proposed shareholder class action filed Nov. 9, and scrutiny of a Nvidia customer over export controls. The available reports do not establish how much any one factor contributed to the share-price decline.
Nvidia’s Weight in Major Indexes
Nvidia’s market value and index weight mean a sharp move in the shares can affect portfolios well beyond people who own Nvidia directly. As of Nov. 9, the company represented 6.64% of the SPY S&P 500 tracker and 7.10% of the QQQ Nasdaq-100 tracker, according to the source material. CNBC reported that Nvidia’s decline weighed on the three major U.S. stock averages on Tuesday.
The sell-off also focuses attention on how investors are pricing the AI buildout. Nvidia supplies chips used in that expansion, but its stock price can respond to expectations about customers’ spending, borrowing costs, regulation and company-specific risks. A fall in the shares does not by itself show that chip demand or Nvidia’s business has changed by the same amount.
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From October Record to November Slide
Nvidia reached a record close of $239.24 on Oct. 6. Yahoo Finance reported that the shares settled just below an intraday record that day and that the company’s intraday market value reached $5.84 trillion. The subsequent decline accelerated in early November, with a steep one-day drop on Nov. 5 followed by two losses after the partial rebound on Nov. 6.
Two broad market concerns featured in reporting on the period. AFP linked selling across the technology sector to fears of a slower AI data-center buildout after the U.S. midterm elections. On Nov. 10, AFP and CNBC reported that October inflation was hotter than expected: the consumer price index rose 0.4%, compared with economists’ 0.3% forecast, according to CNBC. AFP said the data lifted expectations of Federal Reserve rate hikes. Reuters also cited uncertainty about the AI outlook as a factor in Tuesday’s market decline.
Separate reports described developments involving Nvidia itself: a board investigation announced Nov. 8, a proposed shareholder class action filed Nov. 9 and export-control scrutiny involving a customer. Those developments form part of the reported backdrop, but the source material does not quantify their effect on the stock.
How Much Each Factor Mattered
No cited source assigns a precise share of the decline to inflation, data-center concerns, the board investigation, the proposed lawsuit or export-control scrutiny. The estimated $428 billion figure is derived from the two closing prices and Nvidia’s reported share count of 24.1 billion shares as of Aug. 21; it is not a measured cash outflow or a company statement.
The material also does not establish whether the reported legal and governance developments will lead to further action, or how export-control scrutiny of the customer may affect Nvidia’s business. The share prices and market-value estimates here are current only through the Nov. 10 close.
Nvidia’s November 17 Results
Nvidia is scheduled to report its third-quarter results on Nov. 17. The report may give investors updated information about sales and demand, though the source material does not specify what guidance the company will provide. Market attention is also likely to remain on data-center investment, interest-rate expectations and developments in the reported investigation, lawsuit and export-control scrutiny.
Key Questions
How much market value did Nvidia lose over the two sessions?
About $428 billion, according to a calculation using the fall from $186.64 at the Nov. 6 close to $168.89 at the Nov. 10 close and Nvidia’s reported 24.1 billion shares outstanding as of Aug. 21. It is an estimate, not a company-reported loss.
How far was Nvidia below its October record?
At the Nov. 10 close, Nvidia was 29.4% below its Oct. 6 record close of $239.24, based on the cited closing prices. It was 30.6% below the intraday high of $243.37 reached that day.
What factors were cited in reports about the decline?
Reports pointed to broad technology-sector selling linked to data-center and AI-spending concerns, hotter-than-expected October inflation and the prospect of higher interest rates. They also described a board investigation, a proposed shareholder class action and export-control scrutiny involving a Nvidia customer. The sources do not quantify each factor’s effect.
When is Nvidia’s next scheduled earnings report?
Nvidia is scheduled to report its third-quarter results on Nov. 17, 2026.
Source: Thorsten Meyer AI
