AI / Large Models

NVIDIA board prepares to oust Jensen Huang, stock plummets nearly 9% after hours

The Wall Street Journal reports that the board will meet as early as November 11 to decide on Jensen Huang's fate, triggered by his extramarital affairs with two women, one of whom is suspected by U.S. intelligence agencies to be a Chinese spy. Bernstein immediately downgraded the rating, cutting the target price to $200.

Hot discussion: The community is more concerned not about the gossip itself, but whether the valuation logic of "NVIDIA without Jensen Huang" holds—some have dug up the script of Apple kicking out Steve Jobs, while others believe that the CUDA moat is not closely tied to the CEO's individual actions.

Source: The Wall Street Journal | CNBC | Wu Says

Trump administration aware of NVIDIA CEO ousting plan, FBI involved in investigation

CBS reports that the White House is aware of the board's intentions, and the FBI is investigating Huang's connections with suspected Chinese assets. Reuters adds that Senate Democrats are demanding all documents related to NVIDIA's chip exports to China be retained.

Source: CBS News | Reuters

Google releases Gemini Decisions API

Turning decision-making capabilities into a standalone API product, developers can invoke models for structured judgments instead of pure text generation. HN discussions are lively, with the core concern being whether enterprise-level decision automation can truly replace human approval processes.

Source: Google | Hacker News

Baidu releases Wenxin 5.5 Flash preview version, opens up one million token context

A million-level context API directly competes with leading overseas models, positioned with a cost-effective route. This is a direct challenge to domestic large models in terms of context length.

Source: IT Home

Cryptocurrency / Web3

MSCI removes Strategy and Metaplanet from global index, potential outflow of $8.8 billion

MSCI believes these two Bitcoin-holding companies "are more like investment funds than operating businesses," effective December 1. Strategy previously warned that it might trigger around $2.8 billion in stock sell-offs, and JPMorgan estimates that if other index providers follow suit, total outflows could reach $8.8 billion.

> Hot comment: MSTR being kicked out of the index is equivalent to a Bitcoin company being "expelled from traditional finance"—but Saylor may not care, as his shareholders are not buying "operating businesses," but a leveraged Bitcoin ticket.

Source: Wu Says

Avalanche to provide core technology for NYSE-affiliated tokenized securities platform

WSJ reports that the NYSE-owned clearing platform has chosen Avalanche as its ledger technology, supporting 24/7 trading, clearing, and settlement. This marks another significant advancement in the integration of traditional exchange infrastructure with public chain technology.

Source: WSJ

Bybit delists three perpetual contracts in bulk

The three USDT perpetual contracts for HAJIMI, AGI, and 4STOCK will be delisted on November 13, with no specific reason given. Such bulk clean-ups usually indicate insufficient liquidity or project stalling.

Source: Bybit

Chips / Hardware

SpaceX attempts to "de-NVIDIA" the rack layer

Elon Musk's team has been reported to solely purchase NVIDIA chips, bypassing the L6 computing board to self-develop the Kessel cabinet. This is a significant move for a major client to circumvent NVIDIA's complete solution, which, if successful, will directly impact NVIDIA's gross margin structure.

Source: IT Home

Gallup poll shows worsening American attitudes toward AI

(No source available, skip)

Microsoft commits to absorb the cost of power supply for AI computing expansion

Against the backdrop of increasing pressure on the power grid, Microsoft is internalizing power supply costs in an attempt to gain community acceptance for data center expansion. The Texas power grid chief on the same day urged data centers to proactively limit power usage before outages.

Source: IT Home

U.S. Stocks

Nasdaq rises 2.3% intraday, CoreWeave's earnings report exceeds expectations reigniting AI trading

CoreWeave's Q3 revenue grew 167% year-over-year to $3.66 billion, with the stock price rising 25% at one point. Before NVIDIA's after-hours plunge, the market was celebrating the sustained demand for AI computing power.

> Hot comment: Everyone was toasting to "no bubble in AI demand" during the day, and that evening NVIDIA's gossip pulled the whole sector back to reality—this indicates that in market pricing for AI, the factors of people and stories are more significant than the financial report numbers.

Source: CNBC | Wall Street News

Finance / Macro

Expectations for a rate hike in December rise to 100%, gold drops below $4000

October CPI exceeded expectations for the third consecutive month, and market pricing for a December rate hike increased from 70% a month ago to fully priced in now. The dollar index reached a 1.5-year high, and gold fell below the $4000 mark. Goldman Sachs expects rate hikes in December and March, while Deutsche Bank bets on consecutive hikes.

Source: Jinjin Futures | FirstSquawk

Two oil tankers explode and catch fire in the Strait of Hormuz, carrying over 4 million barrels

The Iranian Revolutionary Guard stated that the two ships were attacked in "unauthorized waters," and the Iranian speaker of parliament emphasized that the Strait of Hormuz "will not return to pre-war conditions." Oil prices rose sharply, coupled with news that the U.S. Treasury Secretary moved into military housing due to threats from Iran, quickly returning geopolitical risk premiums.

Source: IBTimes

China approves Eli Lilly's oral GLP-1 weight loss drug

Orforglipron has received approval in China, and the oral formulation will directly impact the domestic weight loss drug market landscape, also putting competitive pressure on Novo Nordisk's injectable products.

Source: FirstSquawk

Today's dark line

All major news today points to the same question: How great is the "human governance" risk in AI narratives? NVIDIA instantaneously evaporated billions in market value due to the CEO's personal scandals, but on the same day, CoreWeave proved that demand for computing power remains intact with a 167% revenue growth. MSCI removed Bitcoin-holding companies from its index, using the standard of "are you really a company?" When the market must distinguish between the "business itself" and the "narrative surrounding the business's people," it indicates that the pricing system for this industry is far from mature. Today, AI and cryptocurrency stood on the same boat regarding this issue.