By Jennifer Saibil, The Motley Fool
Publication Date: 2026-11-10 22:28:00
Nvidia (NASDAQ:NVDA) is no longer the most valuable company in the world as of Election Day. Its stock dropped almost 10% in one day, and recent news about CEO Jensen Huang being a possible target of spying sent the stock down even further.
The timing here works out to be just one week before Nvidia is scheduled to report its fiscal 2027 third-quarter earnings on Nov. 17. Is it a buy ahead of that report?
Nvidia is at the center of AI development
A swath of stocks took a hit after the election as numerous Democratic candidates who have promised to push for a slowdown in artificial intelligence (AI) development and the AI data center build-out won their races.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a “Double Down” signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same “Total Conviction” signal is flashing for a company 1/100th the size of Nvidia. Continue »
Some AI stocks rose on the news, including Amazon, since the market has been worried about the extraordinary amount of money it is laying out on data centers, and investors welcomed the possibility of it slowing its spending spree.
Image source: Nvidia.
Nvidia, though, benefits from AI spend, which is why its share price dropped so quickly. It’s the main provider of the graphics processing units (GPUs) that power AI workloads, with up to 95% of the data center GPU market.
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