🚨 Emergency meeting, everybody. Nvidia alert! NVDA is being panic-sold in after-hours trading tonight. The stock closed Wednesday’s regular session at $173.73. After the bell it broke down, hit a low of $156.46, and at 2:32 PM Pacific my broker’s real-time consolidated quote was $160.22 (bid $160.01, ask $160.20). That’s about 8% wiped out in an hour and a half on the world’s most valuable chip company.

What just happened, minute by minute

• 1:00 PM PT (4:00 PM ET): the regular session closes at $173.73, up almost 3% on the day in a strong chip rally.
• ~1:56 PM PT: the first leg down. NVDA drops from about $174.50 to $168 in four minutes.
• 2:06 PM PT (5:06 PM ET): CNBC’s story is up: The New York Times is reporting a second alleged affair involving CEO Jensen Huang.
• 2:28 PM PT: the second leg. One candle takes it from $165 to $156.46, the low of the night so far.
• 2:32 PM PT: a small bounce to about $160, but the selling hasn’t stopped.

Quick note on the numbers: some apps (Interactive Brokers included) show NVDA as “-5.13%” tonight, because they measure from Tuesday’s close of $168.89. Measured from today’s close of $173.73, the after-hours drop is closer to -8%. After-hours trading is thin, so prices can swing hard and may look very different by tomorrow’s opening bell.

Why: a second alleged affair

The New York Times reported tonight that Jensen Huang had an extramarital relationship with Kimberly Powell, Nvidia’s vice president of health care, an executive who reports to him. According to the reporting, the two were seen being affectionate at a San Jose hotel during a company conference in March. This is an allegation. Nvidia and Powell had not commented when the stock started sliding, and nothing in it has been confirmed.

It lands on top of a brutal week. On Sunday, Huang told staff in a memo: “I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry.” That admission concerned Alice Huang, the Megaspeed-linked executive whom U.S. intelligence officials reportedly believe works for China’s Ministry of State Security. I covered that story in depth in the Alice Huang and Megaspeed breakdown, and the bigger picture of the man himself in my Jensen Huang profile.

Are they preparing to oust the CEO?

That is the question the whole market is asking tonight, and it’s why the selling turned into a panic. Two scandals in four days, a security probe and now a workplace-relationship allegation involving a direct report is the kind of combination that ends CEO careers at most companies.

But here is the honest state of play as of tonight: no credible outlet has reported that Nvidia’s board is moving to remove Huang. An Nvidia representative said this week that Huang is committed to continuing as CEO without interruption. What the board has done:

• On Sunday, Nov 8, its independent directors opened an investigation into whether company secrets or national security were compromised. They said they had “no reason to believe” either was.
• On Tuesday, Nov 10, they hired Joon H. Kim, a former acting U.S. Attorney for the Southern District of New York, and his firm Wachtell, Lipton, Rosen & Katz to run it.
• On Capitol Hill, House Foreign Affairs chair Brian Mast has said he is prepared to subpoena Huang.

Most public companies have rules about executives having relationships with people who report to them. If the Times report holds up, the investigation could widen beyond the spying questions, and that’s the scenario traders are pricing in tonight. Watch for a board statement, an 8-K filing with the SEC, or any word on Powell’s status. Those are the real signals, not rumours on social media.

What it means for AI stocks

Nvidia is the engine of the whole AI trade, so tonight’s move ripples out. The stock was already down about 7% this week before this news, on pace for a sixth straight weekly slide, and Baird downgraded it to Neutral today. If you’re tracking the rest of the sector, this board of 42 live AI and data-center stock charts shows who’s getting dragged down with it. And if you remember the TV calls on this stock, here’s what Jim Cramer was telling viewers about NVDA.

Here’s the thing that doesn’t change with the stock price: the GPUs still need power, cooling and buildings. If you’re planning AI capacity and want to see what it really costs, price out a full AI data center build in the configurator. It works the same whether NVDA is at $175 or $155.

My take

Don’t panic-sell into a thin after-hours market on a headline. Don’t panic-buy one either. The facts that matter will come from Nvidia’s board, its SEC filings and its next earnings report, not from a 5:30 PM candle. I’ll update this post as the board responds.

This post is news commentary, not financial advice. The reports about Jensen Huang and Kimberly Powell are allegations that have not been confirmed. Prices are after-hours quotes from the evening of November 11, 2026 and will change.

FAQ

Why is Nvidia stock falling after hours?

On November 11, 2026, The New York Times reported a second alleged affair involving CEO Jensen Huang, this time with Nvidia health care vice president Kimberly Powell, who reports to him. NVDA fell from a $173.73 close to an after-hours low of $156.46. The report is an allegation and had not been confirmed when the stock fell.

Is Nvidia’s board ousting Jensen Huang?

As of the evening of November 11, 2026, no credible outlet had reported that the board is moving to remove him. An Nvidia representative said Huang is committed to continuing as CEO. The board’s independent directors have hired Wachtell, Lipton, Rosen & Katz to investigate whether company secrets or national security were compromised.

How far did NVDA drop after hours?

About 8% from Wednesday’s $173.73 close, with a low of $156.46 and a real-time quote of $160.22 at 2:32 PM Pacific. Some apps show about -5% because they measure from Tuesday’s $168.89 close.

Featured chart © 2026 Kevin Katovic, all rights reserved, made from NVDA 1-minute price data for November 11, 2026. To license an image, email support@kevinkatovic.com.