Nvidia shares climbed 4.69% in premarket trading on Wednesday to $176.81, recovering part of a two-day drop that included a 5.47% fall on Tuesday to $168.89 and a 4.3% slide on Monday. The bounce comes as investors try to judge how far the fallout from CEO Jensen Huang’s affair with an alleged Chinese spy could spread. Bank of America’s Vivek Arya laid out three scenarios: a contained impact with Huang staying on, a drawn-out period of uncertainty weighing on the stock before earnings, or a worse outcome involving adverse findings, leadership changes or tighter US restrictions. Morgan Stanley removed Nvidia from its top picks list after the stock fell more than 25% since its October 2 inclusion, calling Huang’s leadership crucial. Zacks’ John Blank warned the affair is bad news for the wider AI trade. Nvidia reports earnings on November 17.
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