Nvidia CEO Jensen Huang resigns; stock hits longest weekly losing streak since 2012

Nvidia CEO Jensen Huang resigns; stock hits longest weekly losing streak since 2012

Huang resigned after scrutiny over affairs, including a relationship with a woman reportedly deemed a Chinese spy. Nvidia closed below $4 trillion in value. The board has not picked a search firm.

Why it matters: Nvidia sits at the center of the AI boom, so who leads it affects the whole sector and its partners.

People are saying: Discussion focuses on reports that Nvidia financed AI startups to buy its chips, and on a director's large stock sale weeks before the scandal. r/technology · r/technology (2)

• Nvidia stock suffers longest weekly losing streak since 2012 as… CNBC Tech
• Nvidia closes below $4T market cap for first time since July 2025 in… CNBC Tech
• Nvidia hasn’t selected search firm for permanent Huang replacement,… CNBC Tech

Washington turns up pressure on Nvidia over China chip sales

Treasury Secretary Bessent blamed Commerce for chip leakage to China. Commerce Secretary Lutnick reportedly agreed to testify to the Senate Banking Committee. Congress wants Huang to appear too.

Why it matters: Export rules on advanced chips may face tougher scrutiny, with political fallout reaching Nvidia's customers and rivals.

• Nvidia scandal draws in Commerce Secretary Lutnick, who reportedly… CNBC Tech
• Bessent blames Lutnick’s Commerce as he slams Nvidia chip ‘leakage’… CNBC Markets
• Nvidia is done with Jensen Huang. The fallout in Washington is just… CNBC Tech

Wholesale inflation hits 6.5%, highest in nearly four years

Producer prices, which measure what businesses pay, rose 0.3% in October. Economists had expected 0.4%. The yearly rate is 6.5%.

Why it matters: High inflation helps explain why the 10-year yield rose to 5.154%, which keeps borrowing costs high.

• Wholesale prices rose 0.3% in October, putting annual rate at 6.5%,… CNBC Markets

Cisco beats expectations; Cerebras jumps on Microsoft deal

Cisco beat earnings and said AI infrastructure revenue will double this fiscal year. Cerebras beat on revenue and announced a Microsoft deal, and its shares rose.

Why it matters: Both show AI spending reaching beyond Nvidia, though Cisco shares fell 6.24% on the day.

• Cisco beats on earnings, says AI infrastructure revenue will double… CNBC Tech
• Cerebras pops after beating on quarterly revenue and announcing… CNBC Tech

FAA nationwide ground stop blamed on copper wire work

A nationwide stop on takeoffs began Friday afternoon. Transportation Secretary Duffy said it was tied to replacing old copper wiring. The FAA says there is no evidence AI was involved.

Why it matters: It shows how old equipment can halt U.S. air travel, and the cause is still being questioned.

People are saying: Commenters note the FAA launched a new AI traffic tool days earlier and question the explanation. r/technology · r/technology (2)

• Work to replace old copper wire led to the FAA’s ground stop The Verge
• Transportation secretary blames ‘routine’ equipment upgrade for… TechCrunch
• FAA has lifted its third-ever nationwide ground stop Ars Technica

SpaceX catches Starship upper stage in a first

On Starship's 15th test flight, SpaceX caught the upper stage with its launch tower arms for the first time. The booster catch was aborted.

Why it matters: Catching the ship could allow reuse of the full rocket, a key goal for cheaper launches.

People are saying: Hacker News readers gave the catch strong attention. Hacker News

• SpaceX catches upper stage of Starship rocket in historic first CNBC Tech
• Watch SpaceX successfully execute the first ‘chopstick’ catch of… The Verge