News · BFSI
A near-13 per cent weekly fall in Nvidia's share price, triggered by the resignation of its long-serving CEO, has put Indian mutual fund schemes with holdings in the chipmaker under scrutiny.
✦ AI SUMMARY 30-second read
- Nvidia stock fell 12.75 per cent in a week, erasing around $573 billion in market capitalisation as of November 13, 2026.
- Jensen Huang resigned as CEO on November 12, 2026 after 33 years; CFO Colette Kress was named interim chief executive.
- Thirteen Indian mutual fund schemes and ETFs hold Nvidia shares, with exposures ranging from 0.63 per cent to 12.12 per cent of total holdings.
Why it matters: Indian retail investors in US-focused mutual funds face indirect losses as Nvidia's sharp decline drags down scheme NAVs proportionally.
This summary was generated by AI. Editors may review and update it.
Nvidia's share price tumbled nearly 13 per cent over the week ending Friday, wiping out more than $573 billion in market value after controversy surrounding former chief executive Jensen Huang became public. Huang resigned on November 12, 2026, after 33 years leading the company. Colette Kress, Nvidia's chief financial officer, was appointed interim chief executive.
The sharp decline has drawn attention to Indian mutual fund schemes that hold Nvidia shares. As per data from October 2026, 13 Indian mutual fund schemes and exchange-traded funds have exposure to the American chipmaker, with holdings ranging from 0.63 per cent to 12.12 per cent of their respective total positions.
What triggered the fall
Huang's departure followed public revelations about multiple extramarital relationships. One involved a businesswoman and former executive at an Nvidia customer company; US intelligence officials have reportedly raised national security concerns about that individual's alleged links to Chinese intelligence services.
A second relationship allegedly involved a company employee named Kimberly Powell. The cumulative controversy accelerated Huang's exit after more than three decades at the helm of one of the world's leading artificial intelligence chip suppliers.
Nvidia is among the largest constituents of the S&P 500, accounting for approximately 6 per cent of the index's total value, amplifying the broader market significance of the sell-off.
Which Indian funds are most exposed
Among the 13 Indian schemes identified, Mirae Asset S&P 500 Top 50 ETF carries the heaviest exposure at 12.12 per cent of its assets in Nvidia. Mirae Asset NYSE FANG+ ETF is second at 10.02 per cent, followed by ICICI Prudential NASDAQ 100 Index Fund at approximately 8.02 per cent and Motilal Oswal Nasdaq 100 ETF at around 8 per cent.
Aditya Birla Sun Life International Equity Fund has 4.91 per cent of its assets in the stock, while Edelweiss Technology Fund holds 4.74 per cent. At the lower end, DSP Value Fund has 0.91 per cent exposure and Axis Large & Mid Cap Fund holds 0.63 per cent.
What it means for investors
A fall in Nvidia's share price directly reduces the net asset value of any mutual fund scheme holding the stock. The scale of the impact depends on what proportion of the fund's total portfolio is invested in the company.
As an illustration, if a fund has 10 per cent of its portfolio in Nvidia and the stock drops 10 per cent, the fund's overall portfolio could see a negative impact of approximately 1 per cent, assuming all other holdings remain unchanged. Where other holdings also decline, the combined effect could be larger.
Elets will continue to update this story as further developments emerge.
