Nvidia’s value tumbles by $430bn since spy allegations, as major US law firm hired to investigate claims – business live
Rolling coverage of the latest economic and financial news The drop in Nvidia’s share price this week may embolden the shareholders who are suing the company. A lawsuit was filed in California this week, alleging that Nvidia and chief executive Jensen Huang mislead shareholders by not disclosing that the matter raised national security concerns. Nvidia’s 5.47% decline to $168.89, extending its losses for a second consecutive session, has transformed an executive controversy into a test of instit
Nvidia’s 5.47% decline to $168.89, extending its losses for a second consecutive session, has transformed an executive controversy into a test of institutional confidence. Approximately $430 billion in market value has reportedly disappeared across the two sessions as investors confront allegations involving CEO Jensen Huang’s personal relationship with a businesswoman suspected of connections to Chinese intelligence.
Independent directors have retained Wachtell Lipton, including former prosecutor Joon Kim, to investigate whether the relationship involved foreign intelligence activity or compromised company information. The allegations remain under investigation, and Nvidia says it has no reason to believe secrets or national security were compromised.
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Analyst targets on Nvidia
- Citi: at $168 · target $285 by Nov 2027 · Buy via Yahoo! Finance Canada
- Wells Fargo: at $168 · target $300 by Nov 2027 · Overweight via Seeking Alpha
- Truist Securities: at $228 · target $346 by Aug 2027 · Buy via Investing.com
“At” is the closing price nearest the day the target was reported, the price we score it from; it is not an earlier target. Published targets verified against independent reporting and tracked to their dates. Not recommendations from Dalsna Finance.
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