Nvidia's banal faced an unprecedented driblet connected Tuesday, wiping disconnected $279 cardinal successful marketplace value, nan largest one-day nonaccomplishment successful U.S. history. The nonaccomplishment is worthy much than each of nan shares of galore awesome U.S. businesses, including McDonald's and Chevron, per CNN.
Nvidia's shares tumbled complete 9% successful regular U.S. trading and continued nan descent post-market by an further 2%, aft a report of a subpoena from nan 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, nan CEO and Nvidia's apical individual shareholder, besides took a individual deed pinch a $10 cardinal driblet successful his wealth.
Nvidia CEO Jensen Huang - Photo by I-HWA CHENG/AFP | Getty Images
Shares were up astir 1% Wednesday afternoon, according to CNBC.
Nvidia has astir 80% of nan marketplace for AI chips. In consequence to nan DOJ antitrust investigation, a institution spokesperson told nan outlet that Nvidia "wins connected merit, arsenic reflected successful our benchmark results and worth to customers, who tin take immoderate solution is champion for them."
Despite nan losses, Nvidia is still up 118% twelvemonth to date, per Reuters.
Related: Why Millionaire Nvidia Employees Are Still Working Until 2 a.m.
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