The NVIDIA Corp (NASDAQ: NVDA) share price is now down 30% since early October 2026. It fell 4% overnight after the CEO resigned.
Nvidia is one of the world’s most important technology businesses, providing computer chips for an array of essential uses.
What has happened to the NVIDIA share price?
Overnight for Australians, Nvidia co-founder Jensen Huang resigned from his position as CEO.
It has been a rough month or so for shareholders as the company first suffered from volatility following the US election and questions about the AI & data centre buildout.
Now the business has lost its talisman, the leader that had pushed forward with funding a number of AI players with deals.
It has been alleged that the married CEO had three affairs, including with someone who was allegedly a Chinese spy and another alleged affair with an NVIDIA executive.
Time will tell what the most costly part of this whole situation is, but the FBI are reportedly looking into this.
There’s also reportedly a question on whether Nvidia chips were being routed through Megaspeed, a Singapore-based business, to China and evading US expert controls.
PBS reported that Megaspeed’s finances also have drawn attention. Its total assets soared roughly 90-fold from late 2023 to 2024, to almost US$3 billion, according to Singapore corporate records. Megaspeed’s revenue surged to over US$294 million in 2024 from none in 2023.
Will there be any further consequences for Jensen Huang and NVIDIA than just the loss of the CEO role? We’ll have to see.
Is the NVIDIA share price an opportunity?
It may well be undervalued after falling significantly. The chips it provides are still essential and its customers are still real.
Huang was important for NVIDIA, but he wasn’t the only person working at the business.
Colette Kress, the chief financial officer (CFO) and now interim CEO, could be an effective leader and stable pair of hands compared to how Huang led the business and made a number of eyebrow-raising deals.
According to Google Finance, it now has a price/earnings (P/E) ratio of just 21. That doesn’t seem expensive to me considering the huge demand for its chips across the world.
I’d be willing to look at the business today after its significant decline.
