Nvidia Loses $430B in Two Days; Directors Hire Wachtell to Probe CEO’s China Ties

This is no longer just a headline-driven selloff; it is a governance problem. The board's decision to bring in outside counsel — rather than handle the matter internally — signals that independent directors are treating the CEO's reported ties as a material risk they cannot resolve on their own. That shift matters most for Nvidia's institutional holders, who now face questions about board independence and succession planning alongside the usual AI-demand narrative. The open question is whether the inquiry stays narrowly scoped to the alleged ties or widens into a broader review of management oversight.