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Huang resigned after a report of a second affair, this time with another executive at Nvidia.
If you’re keeping track, that brings the number of alleged extramarital affairs by Nvidia’s now-former CEO to three, including suspected spy / Megaspeed executive Alive Huang, Nvidia’s vice president of health care Kimberly Powell, and an as-yet unnamed woman who two Reuters sources report also works for Nvidia.
Nvidia’s stock closed the day down 4.3 percent.
Trump Jr. has been an advisor to both Kalshi and its rival Polymarket during the prediction market-friendly administration of his father. Kalshi told Bloomberg that the company and Trump Jr. “mutually agreed” to part ways after his venture capital firm invested in Polymarket this summer.
Now that Nvidia’s CEO has resigned, the president posted on Truth Social calling for the former CEO of Apple to take over the company, for some reason.
It’s expecting to set its final IPO share price the day before that. Earlier this week, Anthropic said that price would likely be between $70 to $78 per share, putting its valuation as high as $1.4 trillion.
Before a New York Times report claimed there’s evidence of a second affair by Jensen Huang and reports surfaced that Nvidia’s board could meet today to determine his fate, US Representative Alexandria Ocasio-Cortez spoke to TMZ last night, focusing on asking why our economy depends on “five guys in tuxedos” being able to keep it in their pants.
With reports that the company’s board is meeting to oust Huang from the company he co-founded, Bloomberg reports the board has been working with an unnamed outside firm to identify candidates and is considering naming a temporary chief executive while continuing to look for a permanent replacement.
According to Semafor, the list includes Apple hardware chief Johny Srouji, who was reportedly “seriously considering” leaving the company last year before deciding to stay, with some board members favoring Nvidia CFO Colette Kress instead.
“When reached by phone Wednesday and asked about his relationship with Ms. Powell, Mr. Huang said, ‘I don’t think you should be talking to me directly.‘ He then hung up.” Great stuff, sir. This is the funniest way for the bubble to pop. Do stick around for the NDA anecdote in the kicker — sure seems like his security guards just have a stack of paperwork at the ready for his bullshit!
Update: The WSJ reports Nvidia’s board is “preparing to oust” its CEO.
[The New York Times]
As the Nvidia spy saga continues to develop, the board announced it has retained a former US attorney, Joon H. Kim, and his firm, Wachtell, Lipton, Rosen & Katz (previously seen breaking down the LA Clippers, Steve Ballmer, and Kawhi Leonard scandal) to perform the previously announced investigation.
Separately, the New York Times is diving into the background of the accused spy, Megaspeed exec Alice Huang, and reporting that despite his claims, Donald Trump was informed in May by Marco Rubio about intelligence info showing Nvidia’s CEO was in a relationship with a spy, and that it was the second time he’d been told in seven months.
The company has made the city-state its largest tax shelter, attributing up to $50 billion in profits to its hub there. According to the Financial Times, that’s slightly more than the $2.6 billion saved via its Ireland headquarters.
A report by The Information claims that the world’s biggest chipmaker is considering adding memory back into its portfolio, starting with next-generation 3D DRAM.
With demand still outpacing supply and prices sky-high, the outlet says it could compete with memory giants Micron, Samsung, and SK Hynix to develop and produce 3D DRAM technology that stacks chips vertically for increased bandwidth, capacity, and power efficiency.
For your “is that a bubble popping?” Bingo cards: Bloomberg reports that Microsoft is reconsidering deals to rent server capacity from “neoclouds” to power its AI efforts, and has been turning off rented capacity from Oracle since declining to renew a 2023 deal.
Sources said the computing power Oracle offered used older Nvidia chips, and had become less useful to Microsoft.
Today I was on the phone with someone who suggested maybe the AI bubble was bursting and that was what was going on with AI stocks. Well, maybe! I don’t know! I’ve seen a lot of attempts to explain why the market was up yesterday and is down today and this is the best one of the bunch.
Economist Willy Shih on his new book Where Does My Stuff Come From?, RAMageddon, and why we still can’t make the iPhone in America.
Emma Walmsley, the former head of biotech company GSK and a member of Microsoft’s board, will take over as HP CEO on January 4th, 2027. Bruce Broussard, who became HP’s interim CEO following Enrique Lores’ departure, will serve as chair of the board.
First, xAI spent $60 billion on Cursor, and now Meta picked up Conductor for an undisclosed amount, as reported previously by Axios, as they all compete with the likes of Anthropic’s Claude Code and OpenAI’s Codex.
Conductor’s product is built to let software engineers manage multiple agents at once, and says it will wind down its existing setup:
Reuters reports Google employees in Canada, France, Germany, Japan ​and Switzerland started getting buyout offers in June. A Google spokesperson told Reuters it “expanded” the voluntary exit program it offered employees in the US last year, which didn’t include Google Cloud or DeepMind employees.
Anthropic updated i