Nvidia shares rise 4% after two-day decline

Nvidia shares rose 4.14% to $175.89 at 11.52am in New York on Wednesday, according to Stock Analysis, recovering part of their losses from the previous two trading sessions.

The shares had fallen 9.5% between Friday’s close of $186.64 and Tuesday’s close of $168.89. At Wednesday’s quoted price, they remained nearly 6% below Friday’s level.

The decline followed Nvidia’s announcement of an independent investigation into reports that chief executive Jensen Huang had been targeted by a foreign intelligence operation. On 8 November, the board said it had no reason to believe US national security or Nvidia secrets had been compromised, but that the inquiry would examine the available information.

Other chipmakers also rose in early trading. Dutch news agency ANP reported that CoreWeave, a major Nvidia customer, gained more than 14% after the data centre company reported better-than-expected results and raised its annual revenue forecast.