Nvidia's longest weekly losing streak since 2012 erases $1.7 trillion
Nvidia fell 13% this week, its 6th straight weekly decline and the longest since 2012, erasing about $1.7 trillion in market value.
Six weeks down, $1.7 trillion gone
Nvidia shares plunged 13% this week, the biggest weekly drop since April 2025, CNBC reported on Friday. It was the 6th straight weekly decline, the longest losing streak since 2012, and the stock has now lost 30% of its value since the slide began in early October, roughly $1.7 trillion in market value. Nvidia has fallen below Apple in market value, and last week alone the shares dropped about 9%. Reuters noted the company has lost around $600 billion in market value so far this week alone.
Investors had already turned bearish before the Jensen Huang saga, and the selling then accelerated. The slide began after the midterm elections, in which Democrats swept key races and voters backed dozens of ballot measures that could slow the AI buildout, and on concern that rising interest rates would punish debt-heavy companies, including big Nvidia customers such as the neoclouds that rely on debt markets.
A 33-year run ends in two days
Huang, who co-founded Nvidia and led the company for 33 years, resigned on Thursday after two extramarital affairs were made public, one with a woman alleged to be a Chinese spy and the other with an employee, the company's vice president of health care. News of the first affair broke over the weekend, when Huang sent employees a letter apologizing for being "unfaithful to my wife". The board convened late Wednesday after The New York Times reported the second affair, and Huang was out by early Thursday. The board named chief financial officer Colette Kress as interim chief executive.
Analysts are split on how much of the damage is lasting. Gil Luria of D.A. Davidson said: "We believe the market has appropriately adjusted for this transition." Oppenheimer analysts were more cautious, writing that "we expect fundamentals to take a backseat near term" and that Huang's departure could mean "a lingering share overhang".
- Weekly drop13%, biggest since April 2025
- Consecutive weekly declines6, longest since 2012
- Value lost since early October30%, about $1.7 trillion
- Drop last weekabout 9%
- Expected quarterly revenue$108.9 billion, up 91% year over year
Tuesday's earnings are the next test
The next verdict comes fast. Nvidia reports quarterly results on Tuesday, and analysts expect revenue of $108.9 billion, up 91% from a year earlier and up 18-fold from the same quarter in 2022, just before OpenAI launched ChatGPT. A result that strong would test whether the sell-off is about the leadership shock and the rate backdrop, or about something in the business itself.
Until then, the numbers tell a stark story: a stock that defined the AI rally has now fallen for six straight weeks, the longest stretch of weekly losses in 14 years, and the market is waiting for either the earnings report or a permanent chief executive to give it a reason to stop selling.
