Nvidia Corp. has entered bear-market territory, with its shares falling more than 26% from their 52-week high of $243.37. The sell-off has erased an estimated $1.57 trillion in market value, an amount that exceeds the entire market capitalisation of electric vehicle maker Tesla.The correction has brought Nvidia's market capitalisation down to $4.31 trillion as of the November 9 close, from an estimated $5.88 trillion when the stock touched its 52-week high, Investing.com data showed.The market value wiped out is higher than Tesla's current market capitalisation of around $1.49 trillion, although below SpaceX's estimated $1.93 trillion valuation.Nvidia shares, last quoted at $178.67, have declined 14% over the past week and 22% over 30 days. The stock is also down 18% over three months and 17% over six months.READ | Why Did The US Not Warn Nvidia's Jensen Huang Privately About Alice? Ex-Global Times Editor QuestionsThe sell-off comes ahead of the company's November 17, 2026 quarterly results, with investors assessing the outlook for artificial intelligence (AI) spending. Developments involving Chief Executive Officer Jensen Huang have also added to the scrutiny surrounding the chipmaker.Nvidia's Jensen Huang Faces Board InvestigationNvidia's board of directors has launched an independent investigation into reports that Jensen Huang was the target of a foreign intelligence effort involving a woman identified in media reports as a suspected Chinese intelligence operative.The development followed reports that Huang had admitted to employees that he had an affair with Alice Huang, a former executive at Singapore-based data centre company Megaspeed. According to The New York Times, a classified US intelligence memo identified her as a suspected recruit of China's Ministry of State Security. These allegations have not been independently established.READ | Nvidia Scandal Fits A Pattern: What The Long History Of 'Chinese Spy Plots' ShowIn a statement on Sunday, Nvidia's board said it had no reason to believe that US national security or company secrets had been compromised. A committee of independent directors, assisted by outside counsel, will oversee the investigation.Huang has agreed to cooperate with the review and continues to serve as CEO.The developments come at a time when Nvidia's chips remain central to the global AI infrastructure buildout, with its processors used by cloud companies and technology firms to train and run AI models.November 17 Earnings: What To Expect?Nvidia's next quarterly results, scheduled for November 17, will be closely watched after the company reported revenue of $96.2 billion for the second quarter of fiscal 2027.Revenue more than doubled from $46.7 billion a year earlier, rising 106% year-on-year and 18% sequentially. GAAP net income increased 126% to $59.69 billion, while diluted earnings per share rose 128% to $2.46. Non-GAAP earnings per share stood at $2.22, up 120% from a year earlier.The data centre business remained the main revenue driver, generating $89 billion, up 117% year-on-year and accounting for more than 92% of total revenue.For the third quarter, Nvidia guided for revenue of $108 billion, plus or minus 2%, with gross margins of around 74%. The company said its outlook did not assume any data centre compute revenue from China.The results will offer a fresh reading of demand for AI infrastructure, data centre spending and the pace of Nvidia's revenue growth.Wall Street Analysts Remain BullishDespite the stock's correction, analyst ratings remain tilted towards the buy side. According to the analyst ratings on Investingdotcom, 59 of 62 analysts covering Nvidia have a Buy rating, two have a Hold rating and one has a Sell rating.The average 12-month price target stands at $327.14, implying an upside of around 83% from the reference price of $178.67.That said, the gap between the stock's recent performance and analysts' price targets sets up another test for Nvidia as it approaches its November 17 earnings announcement.READ | Nvidia Shares Plunge 6% Minutes Into Trade As Jensen Huang Scandal Sparks Selloff