Nvidia India staff lose $570 million on paper as AI scare, spy scandal hit stock
New Delhi/Bengaluru, Nov. 13 -- Even as scandal-hit Jensen Huang resigned as chief executive of Nvidia Corp. in the middle of an espionage probe and an office affair, employees of the company's Indian unit are staring at paper losses of as much as $570 million.
Just a month ago, employees at Nvidia Graphics Pvt. Ltd, the chip maker's Indian branch, were sitting on a stock windfall; however, a market panic around AI companies and a scandal around Huang have erased much of it.
Employees held about 7.05 million unvested restricted stock units (RSUs) as on 31 March 2026, a Mint review of the company's financial statement filed with corporate affairs ministry showed. At the time, shares of the world's most valuable company traded at around $170, making these RSUs worth about $1.2 billion. Between then and 6 October, the shares rose to $244, boosting the RSUs' value to $1.73 billion.
Since then, the on-paper gains have plunged. As of 10:30 pm India time, Nvidia shares were trading at $165.08 per share, down 5% from the previous day. This values the unvested RSUs for Indian employees at about $1.16 billion- down roughly $570 million in paper gains in six weeks. Nvidia did not respond to questions.
To be sure, the figure for Nvidia RSUs received by employees could have changed since March. Nvidia RSUs usually get credited to employee accounts over four years: 25% after the first year and 6.25% every three months after that, according to information the chipmaker gave to the US Securities and Exchange Commission....
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