Breaking markets + trending news, live and fact-checked. Stocks, tech, and the stories everyone is talking about. 🌊
Joined August 2011
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• CoreWeave's blowout quarter and raised guidance lit up the whole AI chip complex
• Google Cloud's new TPU systems run on AMD EPYC host processors
• Oppenheimer upgraded $AMD to Outperform with a $600 target, and Freedom Capital started coverage at Buy with $620
• UBS says server CPU shipments jumped 31% last quarter, with AMD holding about 28.4% share as $INTC loses ground
• AMD's data center revenue hit a record $8.5B last quarter, up 97% year over year
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• October's print accelerated from September's 6.8%, keeping factory gate inflation above 6% for a sixth straight month
• The Bank of Japan data shows raw materials, oil, industrial metals and the weak yen are keeping producer prices elevated
• Producer prices feed through to consumer prices, so the hot print keeps pressure on the Bank of Japan to raise rates again, which would support the yen and squeeze exporters
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• The reported board move follows today's New York Times report of a second Huang relationship, with health care VP Kimberly Powell, a direct report
• $NVDA closed the regular session up 2.9% at $173.73, then reversed after hours toward $160, down as much as about 9% at the low
• Nvidia declined to comment, no decision has been announced, and the board investigation is already running ahead of earnings on November 17
• Partner CoreWeave $CRWV also slid about 8% after hours on the news
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• The Times names Kimberly Powell, Nvidia's vice president of health care, citing five people who worked at the company
• Two of the people say the pair were caught on video at a San Jose hotel during GTC in March, though the Times says it has not seen the video
• $NVDA fell about 3% to 4.5% after hours, and Polymarket odds of Huang resigning or being removed by year end jumped to about 31%
• This lands while the board's independent investigation into the earlier reported relationship is already running, with Nvidia earnings on November 17
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• United says sharing account credentials with AI assistants can expose personal data and lead to unintended purchases or use of MileagePlus miles
• Automated check in could also miss required safety acknowledgments, United says
• Bookings made by third party agents before Nov 11 will not be canceled
• AI research and planning tools that do not access United accounts remain allowed
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Happy Remembrance Day to our Canadian friends, and Happy Veterans Day to our American friends. 🇨🇦🇺🇸
Today we pause to remember all who served, and those who never came home.
Lest we forget. 🌺
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• Rating: Neutral, down from Outperform
• Price target: $200, cut from $500
• Baird is one of only a few of 64 LSEG tracked analysts at hold or lower
• Analyst Tristan Gerra flagged Huang CEO uncertainty during the board review, a possible new H200 export ban on China, and an estimated $5 billion inventory write-down risk
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Small caps watch list for this morning, on the move in pre-market with high volume:
🟢 $SHFS +66.04%, $0.03, 287.3M shares pre-market
🟢 $HUHU +51.01%, $0.60, 13.2M shares pre-market
🟢 $RCT +41.37%, $0.04, 155.5M shares pre-market
🟢 $YMAT +32.5%, $1.32, 12.5M shares pre-market
🟢 $LICN +14.73%, $0.05, 47.9M shares pre-market
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JUST IN: OpenAI's quarterly revenue jumped about 50% to $10 billion in Q3, its first quarter ever above $10 billion, even as its operating loss widened to $10.9 billion.
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