Nvidia lost roughly $573 billion in market value in the week ending November 13, 2026, after a near-13 per cent share price collapse triggered by the resignation of long-serving chief executive Jensen Huang. The sell-off has dragged 13 Indian mutual fund schemes and exchange-traded funds into the red with it.

The stock fell 12.75 per cent over the week. Huang resigned on November 12, 2026, after 33 years at the company, and chief financial officer Colette Kress was named interim chief executive, according to the company's announcement.

For Indian retail investors in US-focused funds, the damage is proportional: Nvidia's decline cuts directly into net asset values of any scheme holding the stock, with the size of the hit determined by each fund's exposure.

What triggered the fall?

Huang's exit 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 accumulating controversy forced Huang's departure after more than three decades leading one of the world's dominant suppliers of artificial intelligence chips.

The market impact extends well beyond a single stock. Nvidia accounts for approximately 6 per cent of the S&P 500's total value, one of the index's largest constituents, which amplifies the significance of the sell-off for global and India-domiciled passive products tracking US benchmarks.

Which Indian funds are most exposed?

October 2026 data show 13 Indian schemes and ETFs holding Nvidia shares, with exposures ranging from 0.63 per cent to 12.12 per cent of total positions. The heaviest exposures sit in passive US-index products:

• Mirae Asset S&P 500 Top 50 ETF — 12.12 per cent of assets, the largest exposure among Indian schemes
• Mirae Asset NYSE FANG+ ETF — 10.02 per cent
• ICICI Prudential NASDAQ 100 Index Fund — approximately 8.02 per cent
• Motilal Oswal Nasdaq 100 ETF — around 8 per cent
• Aditya Birla Sun Life International Equity Fund — 4.91 per cent
• Edelweiss Technology Fund — 4.74 per cent
• DSP Value Fund — 0.91 per cent
• Axis Large & Mid Cap Fund — 0.63 per cent

The concentration pattern is clear: funds tracking US large-cap and technology benchmarks carry the heaviest weightings, while diversified domestic schemes hold Nvidia only at the margins.

What does this mean for investors?

A falling Nvidia share price reduces the NAV of every holding scheme, in direct proportion to the stock's weight in the portfolio. The arithmetic is straightforward. A fund with 10 per cent of its portfolio in Nvidia would see its overall portfolio drop approximately 1 per cent if the stock falls 10 per cent, assuming all other holdings stay flat.

The compounding risk is the caveat. Where other portfolio holdings decline alongside Nvidia — a realistic scenario given its 6 per cent weight in the S&P 500 — the combined hit to scheme NAVs could be larger than the single-stock calculation suggests.

For Mirae Asset S&P 500 Top 50 ETF unitholders, the exposure is the sharpest: a 12.75 per cent Nvidia decline translates to roughly 1.5 per cent of scheme value from that single position alone.

Thirteen schemes, one resignation, $573 billion erased.