Nvidia CEO Jensen Huang loses $15 billion in a day as US tech stocks plunge

Nvidia CEO Jensen Huang lost $15.1 billion in a single day, dropping him from ninth to thirteenth on the Bloomberg Billionaires Index, following US midterm election results that triggered a historic tech stock selloff. The Nasdaq 100 erased $2.5 trillion in market value on November 5, with the Nasdaq Composite plunging 5.5 percent, its worst drop since April 2025. Nvidia shares fell 9 percent, while AMD dropped 17 percent. Tesla CEO Elon Musk and Oracle founder Larry Ellison also lost $79.7 billion and $10.1 billion, respectively. Democrats' sweeping midterm victories raised fears that incoming governors, including in Texas, may impose moratoriums on data centre construction due to electricity and water concerns. UBS analysts estimate 30 percent of expected US data centre capacity additions in 2028 could be at risk.