Huang Quits Nvidia; Anthropic Sets $70–$78 IPO Range; CoreWeave +24.7%, Nebius −16%

Thu, 12 Nov 2026 12:00:00 GMT

Nvidia's leadership crisis led the day. Jensen Huang resigned as CEO after a board probe into his affair with an executive at chip reseller Megaspeed. CFO Colette Kress is now interim chief, and the shares were down roughly 12–13% early on Nov. 12. The change comes a week before Anthropic is due to price its IPO at $70–$78 a share, a deal in which Nvidia has agreed to buy about $10 billion of stock. Elsewhere in AI infrastructure, CoreWeave jumped 24.7% on Nov. 11, Nebius fell 16% after raising its capex plans, and SoftBank wrote off $3.7 billion of turbine orders. October losses at multi-strategy hedge funds, a 10-year yield near 2007 highs, Brookfield's results, and interviews on index-fund economics and irregular income complete the edition.

Millennium, Balyasny and Other Multi-Strategy Hedge Funds Lose Money Together in October as AI Trades Unwind — Most large multi-manager hedge funds lost money in October, including Millennium, Balyasny and ExodusPoint, as AI stocks, bonds and other crowded trades fell together. A PivotalPath study finds the largest firms hold overlapping positions with roughly sixfold leverage.
Nvidia Board Meets on Whether to Oust CEO Jensen Huang Amid Affair and Intelligence Probe — Nvidia's board met late on November 11 to consider removing Jensen Huang, three days after opening a probe into his affair with a Megaspeed executive whom US officials reportedly tie to Chinese intelligence. No decision has been reported, and shares fell sharply after hours.
Anthropic sets $70–$78 IPO range, targeting about $1.4 trillion valuation days after Nasdaq rout — Anthropic has set a $70–$78 range for 825 million shares, implying up to about $1.4 trillion, days after the Nasdaq 100's worst session since 2020. Data-center politics, compute costs and weaker sentiment toward AI stocks are the main risks.
CoreWeave Stock Jumps 24.7% After Q3 Revenue Beat and New Customer-Backed Funding Plan Ease AI Debt Worries — CoreWeave stock rose 24.7% on Nov. 11 after third-quarter revenue grew 168% to $3.66 billion, guidance was raised and the company outlined about $9 billion in expected customer prepayments and contract-backed loans, easing a debt scare that had pushed its bond yields above 16%.
Anthropic launches IPO roadshow seeking up to $90.4 billion as SoftBank takes $3.7 billion charge on cancelled AI turbine orders — Anthropic began marketing an IPO of up to $90.4 billion at $70 to $78 a share, implying a valuation of roughly $1.3 trillion to $1.4 trillion. SoftBank took a $3.7 billion charge on cancelled gas-turbine orders meant for AI data centers.
Martin Schmalz argues on Rational Reminder #435 that cheaper index funds can lower investors' overall welfare — Oxford professor Martin Schmalz, on Rational Reminder episode #435, argues that very cheap index funds push money from bonds into stocks, lifting prices and cutting future returns, and revisits his contested research linking shared fund ownership of airlines to higher fares.
Nebius shares fall 16% as it raises capex plans and pushes 2026 revenue to the low end of guidance — Nebius beat third-quarter revenue estimates with $980.8 million, but roughly $325 million came from a one-time item. Data-center delays pushed 2026 revenue toward the low end of guidance, while planned capex rose to about $27 billion for 2026 and $40–45 billion for 2027.
Nvidia CEO Jensen Huang Resigns a Week Before the Anthropic IPO That Nvidia Pledged $10 Billion to Back — Jensen Huang resigned as Nvidia CEO on November 12, one week before Anthropic's planned Nasdaq debut. Nvidia has agreed to buy about $10 billion of a $26 billion private placement at the IPO price; no reviewed source reports any change to that commitment.
Brookfield Q3 profit rises to $1.31 billion as asset arm raises $25 billion and Wealth Solutions earnings climb 22% — Brookfield Corporation's third-quarter net income rose to $1.31 billion from $219 million a year earlier. Distributable earnings climbed 16% to $0.73 per share, helped by $25 billion of quarterly fundraising and 22% earnings growth at Wealth Solutions.
Anthropic sets $70–$78 IPO price range as seven suppliers commit $26 billion to share class outside lock-ups — Anthropic plans to sell 825 million Nasdaq shares at $70–$78 each, valuing it at up to about $1.4 trillion. Seven chip and cloud suppliers will separately buy $26 billion of Class N stock that standard underwriter lock-ups do not cover.
Jensen Huang resigns as Nvidia CEO amid spying probe; CFO Colette Kress named interim chief — Jensen Huang resigned as Nvidia's CEO and director on November 11, days after reports linked him to a woman US officials reportedly view as a Chinese intelligence asset. CFO Colette Kress is interim CEO while Wachtell Lipton investigates for the board.
Jensen Huang Resigns as Nvidia CEO After Megaspeed Affair; Scrutiny Turns to Chip Export Gaps in Southeast Asia — Jensen Huang has quit as Nvidia CEO after admitting an affair with a Megaspeed executive. A Bloomberg reporter argues the deeper issue is structural: a gap of about 50,000 chips remains unexplained, and Chinese firms can still legally rent restricted GPUs abroad.
Stocks hold up as 10-year Treasury yield nears 19-year high, with locked-in fixed-rate corporate debt slowing the impact — U.S. stocks have stayed resilient while the 10-year Treasury yield sits near its highest since 2007. TKer's Sam Ro attributes this to long-dated, fixed-rate corporate debt. Federal Reserve research supports this, but the protection weakens as debt matures and is refinanced at current rates.
Jensen Huang resigns as Nvidia CEO after affair with an executive at chip reseller Megaspeed — Jensen Huang resigned as Nvidia CEO on November 12 after admitting an affair with a Megaspeed executive U.S. intelligence suspects of spying for Beijing, plus a reported relationship with an Nvidia vice president. CFO Colette Kress is interim CEO; no successor is named.
AJ Ayers Tells Bloomberg's At the Money How Creatives With Irregular Income Should Manage Money — In a Bloomberg At the Money interview, CFP AJ Ayers argues standard financial advice assumes a steady paycheck, and her new book Creative Money offers alternatives: pay yourself a fixed salary, reserve heavily for taxes, and handle windfalls in a set order.

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Huang Quits Nvidia; Anthropic Sets $70–$78 IPO Range; CoreWeave +24.7%, Nebius −16%