Pension funds lose billions as Nvidia scandal hits shares

Pension funds suffered heavy losses as Nvidia's stock price continued to fall on Friday, erasing billions in value following a scandal involving espionage, infidelity, and AI that forced CEO Jensen Huang to resign. Nvidia's market value has dropped over 12 percent since Monday to just above 4,000 billion dollars. Sweden's Seventh AP Fund, the largest state pension holder, may have lost nearly 8 billion kronor, with combined losses across all AP funds reaching 12.1 billion kronor. Economist Maria Landeborn downplayed the impact, noting losses represent less than 0.3 percent of total managed capital. Nvidia remains a major holding in many portfolios, including Alecta and AMF, though Huang now faces congressional hearings and an FBI investigation.