TechCrunch AI. It plans to sell 825 million Class A shares and raise $57.75–64.35 billion. The top of the range implies $1.404 trillion fully diluted, or $916 billion to $1.02 trillion on a basic share count. Either figure is well below the $2 trillion-plus that investors reportedly modeled over the summer. Strategic partners will buy about $26 billion of nonvoting stock, including roughly $10 billion each from Google and Nvidia, and most of them also sell Anthropic chips or cloud capacity. Q3 revenue reached $17 billion, but quarter-over-quarter growth slowed to 47% from 144%. The filings show about $900 billion in compute commitments, with roughly $450 billion due by 2030. Pricing is expected November 18.
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On the hardware side, WSJ · Technology on revenue up about 46%. A rough net margin of about 2.6%, against 2.80% a year earlier, means revenue is growing faster than profit. Management expects Q4 rack shipments to grow by a high double-digit percentage and to more than double in 2026.
Nvidia's board and China
Two reports follow the same fast-moving situation. In Guardian · AI, independent directors hired outside counsel after Huang admitted an affair on 8 November. The espionage allegation comes from anonymous US officials, and Beijing calls it groundless. Megaspeed, which rents Nvidia GPU capacity in Southeast Asia, says inspections found no violations. Financial Times · AI adds the Wall Street Journal's report that a search firm is looking for successors, with CFO Colette Kress mentioned as a possible interim CEO. Three House committees want briefings, the FBI is investigating, and questions are being raised about the December 2025 deal allowing H200 sales to China. Estimates of lost market value range from about $600bn to over $1tn for November, partly because AI stocks fell broadly. Anthropic set its range during the same sell-off.
Diplomacy is running alongside the rivalry. CNBC · Technology covering pre-release testing, human control and incident warnings, with no pledge to slow AI. One outlet reports that the first session will be held in Shenzhen alongside APEC on Nov. 18–19. No definition of an incident has been published.
Agents: more capable, more fenced in
r/AISEOInsider, currently for Ultra subscribers only. At OpenAI News, and 87% of staff with access use the tool after a rollout that put governance first. One Useful Thing: in his test, the model screened 22 business ideas and read agendas from 201 local governments, but he stopped it before it could run the business. Artificial Analysis ranks it first of 74 models, at about 47.8 minutes and $26.54 per task.
At the point of purchase, the door is closing. Verge · AI, even with human approval, and the penalties fall on account holders. eBay and major US banks have set similar limits.
New interfaces and robots
Simon Willison, which returns probability-scored answers at $0.10 per million input tokens with free output. It is the third product of this kind, after TypeSafe's Jev and OpenAI's endpoint. Studies of Jev found that renaming answer options cut AUC from 93.8% to 23.2%. Those studies tested Jev, not Gemini, so Gemini's robustness is still unknown. Google DeepMind on Apptronik's Apollo 2, a proof of concept limited to partners.
Inside the weights
Cognitive Revolution. Zeroing about 92% of the weakest activations raised loss by roughly 2.9%, though sparsification broke long reasoning until about 100 million tokens of fine-tuning restored it. These figures are Goodfire's own and have not been replicated. In separate work, a Reddit summary describes last30days · reddit, which plants an agent backdoor by editing fewer than 10 rarely firing neurons. Another last30days · reddit, with accelerator kernel optimization as the example.
Patch now
Ars Technica · AI lets an overlong password log in to passwordless accounts on musl systems such as Alpine running versions before 10.6p2. CISA's federal deadline falls today. Upgrade, rebuild Alpine images, or set PasswordAuthentication to no.
