Nvidia Stock Today, November 13, 2025: NVDA Slides 3.6% as AI Leaders Sell Off Ahead of Earnings

Nvidia stock (NASDAQ: NVDA) just delivered another volatile session as investors dumped high‑growth AI names, repriced interest‑rate expectations, and braced for the chipmaker’s crucial earnings report next week.

At Thursday’s close, Nvidia shares finished at $186.86, down 3.6% on the day, after trading as low as $183.85 and as high as $191.44. Volume was huge at roughly 207 million shares, well above recent averages. ^[1]

Below is a full rundown of what moved NVDA today (13.11.2025), the latest Wall Street calls, and what’s at stake ahead of Nvidia’s November 19 earnings.

Key takeaways on Nvidia stock today

NVDA closed at $186.86, down 3.58%, extending a multi‑day pullback from record highs above $210 set late last month. ^[2]
Nvidia was one of the biggest drags on the S&P 500 and Nasdaq, as AI “superstar” stocks sold off and Wall Street dialed back expectations for a December Fed rate cut. ^[3]
Macro worries collided with Nvidia‑specific headwinds, including fresh scrutiny from famed investor Michael Burry, SoftBank’s multibillion‑dollar share sale, and ongoing China chip restrictions. ^[4]
Bulls are still loud: Oppenheimer hiked its Nvidia price target to $265, Susquehanna to $230, and most analysts still rate the stock a “buy” going into Q3 FY2026 earnings on November 19, where Wall Street expects around $54.6 billion in revenue and $1.23 EPS. ^[5]
Nvidia’s long‑term AI story remains massive: CEO Jensen Huang has talked about $3–4 trillion in AI infrastructure spend by the end of the decade, underscoring why many see pullbacks like today’s as volatility rather than the end of the AI trend. ^[6]

Nvidia stock today: price, performance and trading action

Pre‑market:
Before the opening bell, Nvidia was already under pressure. On Public.com’s extended‑hours feed, NVDA’s pre‑market price was about $190.97 at 9:30 a.m. ET, down roughly 1.5% from Wednesday’s close of $193.80. Pre‑market trades ranged between $190.51 and $191.09, signaling early selling into the open. ^[7]

Regular session (13.11.2025): ^[8]

Open: $191.05
Day’s high: $191.44
Day’s low: $183.85
Close: $186.86
Change: –$6.94 (–3.58%)
Volume: ~206.8 million shares

After the close, NVDA was basically flat in after‑hours trading around $186.83, suggesting that most of the damage was done during the regular session. ^[9]

Even after today’s drop, Nvidia is still up roughly around 40% year‑to‑date in 2025, though that’s down from roughly 44% YTD coming into Thursday’s session and below its late‑October record high around $212. ^[10]

Why Nvidia sold off: Fed uncertainty and an AI stock hangover

Today’s NVDA slide wasn’t happening in a vacuum. It came as Wall Street suffered one of its worst days since April, with investors dumping AI‑heavy, richly valued tech stocks. ^[11]

According to Reuters:

The S&P 500 fell 1.66%, the Nasdaq dropped 2.29%, and the Dow lost 1.65%. ^[12]
Nvidia, described as “the world’s most valuable company” and a key driver of the AI boom, dropped 3.6% and was one of the heaviest weights on the major indexes. ^[13]

The primary catalyst: interest‑rate expectations shifted again.

A growing number of Federal Reserve officials have signaled caution about further rate cuts, citing sticky inflation and a still‑resilient labor market. ^[14]
Markets now see the odds of a December rate cut at roughly a coin flip (about 47%), down from about 70% last week. ^[15]

Higher‑for‑longer rates are particularly painful for stocks whose value is heavily tied to distant future cash flows — exactly the narrative underpinning Nvidia and its AI peers. As a result, other AI names like Tesla, Palantir, Broadcom and Super Micro Computer also sank today, reinforcing the idea that this was an AI basket trade unwind, not a single‑stock story. ^[16]

Add in the overhang from the recent record U.S. government shutdown, which just ended and has complicated economic data releases, and you have a backdrop where traders are far less willing to pay peak multiples for high‑beta tech. ^[17]

Fresh bearish headlines: Burry’s ‘Big Short’ 2.0, SoftBank’s sale and China’s AI chip squeeze

Beyond macro pressures, several Nvidia‑specific storylines are pushing investors to reassess risk.

1. Michael Burry is shorting Nvidia

In a widely discussed Reuters “Artificial Intelligencer” column, Michael Burry — made famous by The Big Short — disclosed put options against Nvidia and accused big tech companies of boosting profits through aggressive accounting on AI infrastructure. ^[18]

Burry’s argument in brief:

Hyperscalers like Microsoft, Alphabet, Meta and Oracle are spending tens of billions of dollars on servers and Nvidia GPUs.
By extending the “useful life” of these assets, he argues, companies understate depreciation and artificially inflate reported earnings. ^[19]
Burry estimates that from 2026–2028, this could understate total depreciation by around $176 billion, making sector‑wide profits look significantly higher than they would under more conservative assumptions. ^[20]

While none of this directly changes Nvidia’s near‑term revenue, it challenges the sustainability of the AI spending cycle that has powered NVDA’s historic rally — a narrative that clearly unnerves some holders.

2. SoftBank cashes out $5.8 billion of Nvidia stock

Adding to the unease, Reuters reported this week that SoftBank Group sold about $5.8 billion worth of Nvidia shares, contributing to a nearly 3% drop in the stock on Tuesday. ^[21]

SoftBank’s Masayoshi Son isn’t turning bearish on AI — he’s reallocating capital. The proceeds are helping to finance a $22.5 billion commitment to OpenAI and a wider AI hardware and infrastructure push involving Arm and other bets. ^[22]

Still, when a prominent early AI winner such as SoftBank takes that much profit, it fuels the idea that smart money is rotating out of the most crowded winners — again putting pressure on Nvidia’s multiple.

3. China bans foreign AI chips from state‑funded data centers

On top of the previous U.S. export controls, China has now issued guidance effectively banning foreign AI chips — including Nvidia’s — from state‑funded data centers, according to a Reuters exclusive on November 5. ^[23]

Key points from that report:

New data center projects receiving any state funds must use domestically made AI chips.
Data centers less than 30% complete have reportedly been ordered to remove already‑installed foreign chips or cancel planned purchases. ^[24]
Nvidia’s share of the Chinese AI chip market is now effectively zero, down from about 95% in 2022, according to company comments cited in the article. ^[25]

This move doesn’t show up in today’s tape as a fresh headline, but it’s part of the background narrative investors are trading: a future in which Nvidia’s China data‑center revenue is structurally capped, even as domestic competitors like Huawei, Cambricon and others rush to fill the gap. ^[26]

Bulls push back: Wall Street raises Nvidia targets into earnings

Despite the volatility, Wall Street remains overwhelmingly bullish on Nvidia heading into its Q3 FY2026 earnings next week.

Oppenheimer: “Best positioned to win in AI” – target to $265

An Investopedia report today highlighted that Oppenheimer raised its Nvidia price target from $225 to $265, reaffirming its bullish stance. ^[27]

According to the piece:

Oppenheimer believes Nvidia “remains best positioned to win in AI,” citing strong demand for its latest GPUs.
Nvidia shares are still up close to 40–44% in 2025 so far, even after the recent pullback, though they’ve dropped from a record high around $212 reached late last month. ^[28]
Of 14 analysts tracked by Visible Alpha with current ratings, 13 rate Nvidia a “buy” and one a “hold”, with a mean target around $212 based on slightly earlier pricing data (before today’s volatility). ^[29]

The article also notes that reactions to AI earnings have become more binary: AMD and Palantir both delivered strong results recently but still saw choppy trading, underscoring how high the bar is for Nvidia next week. ^[30]

Susquehanna: Target lifted to $230 on Blackwell demand

Seeking Alpha reported that Susquehanna raised its NVDA price target from $210 to $230 today, while maintaining a “Positive” rating. ^[31]

Susquehanna’s bullish thesis centers on:

Strong data‑center demand driven by hyperscale capex.
The ramp of Nvidia’s GB300/Blackwell GPU generation, which carries higher average selling prices.
Expectations for better‑than‑expected results and guidance in Q3 FY2026, supported by a favorable product mix in GPUs and networking. ^[32]

Earnings on November 19: Street expects another monster quarter

According to The Economic Times, Nvidia will report Q3 FY2026 earnings on Wednesday, November 19, 2025, after the market close. ^[33]

Consensus expectations:

Revenue: around $54.6 billion, in line with Nvidia’s own guidance of roughly $54 billion ±2%.
EPS: about $1.23, a huge jump from $18.1 billion in revenue during the same quarter a year ago, highlighting just how dramatically Nvidia has scaled its AI data‑center business. ^[34]

Analysts and investors will focus on:

Data center revenue, expected to exceed $42 billion for the quarter.
Gross margins, which were around 74% last quarter, with any sign of compression closely watched.
Commentary on the Blackwell GPU ramp, AI superchip rollout, and enterprise adoption of generative‑AI systems. ^[35]

Options markets are pricing in a post‑earnings move of roughly ±8.5%, underlining just how much uncertainty — and opportunity — traders see in the event. ^[36]

Long‑term AI market still looks enormous

In a separate Reuters roundup published today, Nvidia CEO Jensen Huang reiterated his view that AI infrastructure spending could reach $3–4 trillion by the end of the decade. ^[37]

Other forecasts in the same piece suggest:

Global AI spending may hit about $1.5 trillion in 2025, surpassing $2 trillion in 2026, according to research firm Gartner. ^[38]
McKinsey previously estimated generative AI could add $2.6–4.4 trillion in economic value annually across industries. ^[39]

Those numbers explain why, even on a bruising day like today, many investors remain structurally bullish on Nvidia’s role as the “picks and shovels” supplier to the AI boom.

What today’s move means for Nvidia investors

To put Thursday’s action into context:

Near‑term sentiment is fragile.
- The market is re‑rating expensive growth stocks as the Fed’s December cut becomes less certain and macro data remains noisy.
- AI leaders like Nvidia are front and center in that de‑risking trade, which is why they’re moving more than the indexes. ^[40]
Valuation is under the microscope.
- Commentators have been warning for weeks about an “AI bubble,” and today’s sell‑off follows stories about SoftBank taking profits and Michael Burry betting against AI hardware. ^[41]
- The China chip ban underscores that geopolitics can cap growth in key markets. ^[42]
But the fundamental story hasn’t vanished.
- Demand for cutting‑edge AI GPUs remains intense, as shown by Nvidia’s own guidance and by CEOs at AMD, Broadcom and hyperscalers talking about “insatiable” AI demand. ^[43]
- Multiple analysts lifted price targets today, not cut them, suggesting most of Wall Street still thinks earnings power will grow into the valuation if execution remains strong. ^[44]

In short: today’s 3.6% drop looks more like a macro‑driven shakeout layered on top of existing anxieties (China, accounting, profit‑taking) than a verdict on Nvidia’s fundamental AI positioning.

Volatility, however, is likely to remain elevated at least through the November 19 earnings call.

What to watch next for NVDA

If you’re following Nvidia stock into next week, here are the major checkpoints markets will be laser‑focused on:

Headline Q3 numbers vs. guidance
- Does revenue beat the roughly $54.6 billion consensus?
- Does EPS beat or miss the $1.23 expectation? ^[45]
Data center trajectory
- How much of Nvidia’s growth is still coming from hyperscale cloud providers vs. enterprise and government?
- Are there any signs of order push‑outs or digestion after huge capex cycles?
China and export controls
- Any updated estimates on the revenue hit from U.S. export rules and China’s state‑data‑center chip ban will be scrutinized. ^[46]
Blackwell and product roadmap
- Details on the Blackwell GPU ramp, AI superchips, and the pace of migration from Hopper will help investors gauge how long Nvidia can maintain its technology and pricing lead. ^[47]
Guidance and AI market commentary
- Any fresh numbers from Jensen Huang on AI infrastructure TAM, customer demand, or competitive dynamics (AMD, custom chips, Chinese vendors) will feed directly into forecasts — and into the debate over whether NVDA is still priced for perfection. ^[48]

Bottom line

Nvidia’s 3.6% drop on November 13, 2025, is a sharp reminder of how sensitive the stock has become to macro sentiment and AI bubble fears, even as its underlying business continues to grow at extraordinary speed.

Today’s action was driven by:

A broad sell‑off in AI and high‑growth tech as Fed rate‑cut odds fell.
Mounting scrutiny from high‑profile investors (Michael Burry, SoftBank) and geopolitics (China’s AI chip restrictions).
Pre‑earnings nerves with expectations sky‑high for November 19.

At the same time, analyst support has, if anything, strengthened, with higher price targets and continued “buy” ratings predicated on massive AI infrastructure demand and Nvidia’s clear leadership in GPUs and software.

For traders and long‑term investors alike, the message is clear: expect turbulence, especially around next week’s earnings — but also an unusually high level of focus, because Nvidia’s next move could help set the tone for the entire AI trade and, by extension, for the broader U.S. stock market.

This article is for informational purposes only and does not constitute financial or investment advice. Always do your own research or consult a licensed financial adviser before making investment decisions.

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