By seeking an external probe, the Nvidia board is pursuing a detached and transparent approach to the matter rather than executing a corporate cover-up. This insulates members from personal legal liability, and further shareholder lawsuits and Congressional demands.
A new statement from the independent members of the NVIDIA Board: https://t.co/uSFDhiohG8
— NVIDIA Newsroom (@nvidianewsroom) November 10, 2026
Investor lawsuits and Congressional scrutiny
On Monday, retail investor Mark Kistenmacher filed a class action lawsuit representing all investors who purchased NVDA shares between October 9, 2025 and November 8, 2026. The lawsuit demands unspecified compensatory damages from Nvidia, arguing that the firm artificially inflated its stock price by downplaying Jensen’s interactions with the former Megaspeed executive.
And while Trump has vouched for Jensen’s innocence, three House Republican Committee chairmen have summoned Huang for a closed-door Congressional briefing on the matter on November 18 (a day after its Q3 earnings report). While Jensen has pledged full cooperation with investigators, he is yet to confirm attendance for the briefing.
China and US protective measures
US lawmakers will likely propose bills to enforce tougher export rules, making it harder to sell chips to China. China, meanwhile, has called the spy allegations “unsubstantiated”, saying they are merely meant to taint its image.
NVDA stock reaction
Following Sunday’s disclosure, Nvidia stock wiped out over $200 million in market value, while rivals like AMD surged over 13%.
At the last market close, NVDA (Nasdaq) traded at $168.89, having declined a further 5.47% in the day.
Source: MarketWatch
While analysts expect a strong finance report on Tuesday, developments in the prevailing controversy could massively impact future stock prices since Huang is the face of the company.