CNBC · Wed 11 Nov

AIAI-generated summary US equity index futures fell after The Wall Street Journal reported that Nvidia board members are preparing to oust chief executive Jensen Huang. Nvidia shares dropped around 4.5% in after-hours trading following the reports about Huang and his relationships.

NVIDIA

AIAI-generated summary Nvidia faces upcoming congressional investigations concerning its exports to China and the relationship between Jensen Huang and a suspected spy for China's intelligence service. Lawmakers are pushing to include measures such as the AI Overwatch Act in the National Defense Authorization Act to tighten export controls on advanced AI chips.

NVIDIA GPUs National Security Export Controls

AIAI-generated summary Morgan Stanley states that investors should stick with high-quality artificial intelligence bonds as debt worries persist in the market. The firm sees an attractive entry point in high-quality hyperscaler bonds while investors remain wary of the debt funding the artificial intelligence build-out.

Compute Costs Funding

AIAI-generated summary Meta reported that its head of infrastructure will depart the company in the new year. A former Amazon Web Services executive will succeed the departing leader to oversee data center operations.

Meta Amazon AI Data Centers

AIAI-generated summary CoreWeave CEO Michael Intrator told CNBC that he has canceled his planned share sale program. The decision followed the company reporting revenue growth and beating expectations for the quarter.

Earnings

AIAI-generated summary Treasury Secretary Scott Bessent stated that the U.S. and China should harbor no illusions as they cooperate to contain risks while competing in artificial intelligence. Bessent said the two governments established a dialogue mechanism on super intelligence to exchange best practices for testing advanced models and guard against shared risks.

National Security Guardrails