Nvidia perpetual futures slide as board probes CEO Jensen Huang

what happened

According to The Block, Nvidia's NVDA-USDC perpetual futures on Hyperliquid dropped 3.8% over 24 hours to $180.50 as of 10:10 p.m. ET on Sunday, with trading volume of about $170 million. The slide began around 4 p.m. ET, bottoming near $178.10 before a slight rebound.

The move followed the company's announcement that its board is examining CEO Jensen Huang's personal conduct after reports that he was a target of a foreign intelligence effort. The New York Times had reported that a memo circulated among U.S. policymakers alleged that a Chinese businesswoman was recruited by China's Ministry of State Security. Huang acknowledged in an internal memo that he had been unfaithful to his wife and said he would cooperate fully. Nvidia said the board has no reason to believe national security or company secrets were compromised.

Stock futures edged higher late Sunday, and Asian equities rose on Monday morning.

why it matters

Analysts linked the drop to risk-off sentiment, with US cash markets closed and crypto venues providing the only price discovery. Laevitas said the overhang will last as long as the investigation does, with the main risks being congressional escalation, tighter scrutiny of China-linked sales, or any leadership change. Polymarket gave a 16% chance that Huang would resign or be removed by December 31, 2026.

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