NVDA, PLTR, QCOM, SPCX: Nvidia Fell 8.8% Amid Board Probe
Nvidia's weekly loss of 8.8% followed CEO Jensen Huang's admission of an affair and a board investigation. Palantir fell over 12% despite 96% revenue growth, Qualcomm edged up 0.4% on a SpaceX deal, and SpaceX shares came under pressure after the midterms.
Nvidia shares fell 8.8% in the week of Nov. 2-6, their biggest weekly loss since April 2025, after CEO Jensen Huang admitted to an affair that prompted a board investigation. NVDA, PLTR, QCOM and SPCX all drew heavy attention from retail traders that week.
Retail sentiment on all four stocks stayed "extremely bullish" even as prices diverged, according to the retail-investor data cited for the week.
Nvidia: leadership probe and slower spending
Huang told employees in a memo that he had an affair with a former executive of Megaspeed International. U.S. officials suspect that executive of links to foreign intelligence activities.
Nvidia's board has set up an independent committee to examine the matter. The company also faces concerns about slower data center spending, and its valuation has slipped below $5 trillion.
President Donald Trump backed Huang in an interview, saying he should continue as CEO. "I have not spoken to him about it; I just know he's a fine person," Trump said.
Palantir: record growth, falling shares
Palantir reported third-quarter revenue up 96% from a year earlier, to $2.31 billion, with earnings of $0.44 per share. U.S. commercial sales rose 148% to $984 million, passing government revenue for the first time.
The company signed 212 major business deals and raised its 2026 revenue forecast to about $8.53 billion. Its stock still dropped more than 12% over the week.
Louis Mosely, Palantir's executive vice president for the U.K. and Europe, called the result "a very significant milestone" for the company.
Qualcomm and SpaceX tie up
Qualcomm reported fourth-quarter revenue of $10.3 billion, weighed down by a 26% drop in handset chip sales. It said its automotive, internet-of-things and data center lines are on track to exceed 50% of QCT chip revenue by fiscal 2027.
The company also announced a multi-year collaboration with SpaceX. Qualcomm will supply chips and software, including the Dragonwing QRU100 and QDU100 platforms, for Starlink Mobile's planned nationwide cellular network. Its shares gained 0.4% for the week.
SpaceX stock came under pressure after Democrats made major gains in the midterm elections, which investors see as a risk to Elon Musk's political influence and to funding for tech infrastructure.
Speaking at the Baron Investment Conference, Musk said SpaceX's revenue growth was gaining, with quarterly growth potentially reaching 70%. He expects annual recurring revenue to exceed $500 billion by December 2027.
"It seems quite likely that our ARR in Dec 2027 will exceed $500B," Musk said.
The same week, Marvell announced a $115 billion deal to acquire Lumentum Holdings.
