Key points
- Nvidia fell as other major chip stocks rallied
- AMD led gains among the chip stocks we checked
- Google announced new AI chip systems
Nvidia (NVDA) shares were down 4.1% at $179.08 at 10:15 a.m. ET on Monday, November 9, as other major chip stocks rose. It was the first trading session since Nvidia's board said it would investigate reports that chief executive Jensen Huang was the target of a foreign intelligence effort.
At the same time, AMD was up 9.1% and Broadcom (AVGO) was up 7.7%. The iShares Semiconductor ETF (SOXX), which includes Nvidia, gained 5.7%.
Nvidia fell as other chip stocks rose
Every other large chip stock we checked was higher. The broader market was also up, rebounding after the S&P 500's worst week since April 2025, Bloomberg reported.
| Stock | Price at 10:15 a.m. ET | Change from Nov. 6 close |
|---|---|---|
| Nvidia (NVDA) | $179.08 | -4.1% |
| AMD (AMD) | $489.70 | +9.1% |
| Marvell (MRVL) | $153.68 | +8.8% |
| Broadcom (AVGO) | $316.26 | +7.7% |
| Micron (MU) | $730.48 | +5.9% |
| TSMC (TSM) | $391.64 | +4.3% |
| Alphabet (GOOGL) | $295.02 | +3.6% |
| iShares Semiconductor ETF (SOXX) | $144.28 | +5.7% |
| SPDR S&P 500 ETF (SPY) | $748.70 | +1.8% |
Prices are trades at 10:15 a.m. ET. Changes are from official November 6 closes.
For Nvidia, the board investigation and Huang's admission that he was unfaithful to his wife were the main news over the weekend. Prices alone can't show how much of Monday's drop comes from the probe, and the session is still young.
Google talked up its own AI chips the same morning
At 8:13 a.m. ET, Google announced two more systems in its eighth-generation lineup of tensor processing units, or TPUs, its own AI chips. In its blog post, Google said TPUs are now "a rapidly growing business with nearly 100 customers." One of the new systems, the TPU 8tx, pairs Google's TPU with fifth-generation AMD EPYC processors as host CPUs, as we reported earlier. AMD supplies the host processors, not the AI chip itself.
AMD had its own news, too. Oppenheimer upgraded the stock to outperform before the open, CNBC reported. So AMD's gain can't be read only as money leaving Nvidia.
Nvidia has three dates coming up
Three House chairmen asked Huang to reply by November 11 to their request for a closed-door briefing on November 18. Nvidia reports fiscal third-quarter results on November 17, the day before.
