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Technology and capital coverage — AI, crypto, and the companies shaping the future.
15 stories this week
The ship dropped into the tower's arms after 22 hours and 14 orbits, a day after its booster blew up over the Gulf. Traders now take full reuse far more seriously, but they still think SpaceX is running out of calendar this year.
SpaceX declares Starship fully reusable in 2026
10%Jensen Huang rejoins Nvidia by 31 December 2026
34%Starship declared fully reusable in 2026up 3 points
24%Nvidia names a permanent CEO by the end of 2026down 17 points
Microsoft says servers became unexpectedly unavailable and sees no sign of an attack. OpenAI and Anthropic reported problems with their Microsoft connectors, and traders put a ChatGPT outage by 30 November at 96.5%.
Talks are advancing on what would be the largest merger ever. Traders now treat an announcement by the end of January as a coin toss, but still give this year less than one chance in three.
Ian Buck, a senior Nvidia data-centre executive, leads the race to replace Jensen Huang, and interim chief Colette Kress is gaining. Whoever wins inherits a Congress moving towards tighter China chip curbs.
The board named CFO Colette Kress interim CEO and gave no reason for the departure of the co-founder, who led Nvidia for 33 years. Shares fell about 10% before the US market opened.
After the New York Times reported a second relationship, the Wall Street Journal said directors could meet as soon as Wednesday. Nvidia has not confirmed either report.
A classified warning reached the Commerce secretary and House Republicans are threatening a subpoena. Traders have raised the odds that Huang goes, and the year-end race for the world's biggest company is slipping to Apple.
Joon Kim of Wachtell Lipton will run the board's investigation as Nvidia's shares sink for a second day. Traders still expect Jensen Huang to survive the year, but they see real danger building into 2027.
The price range is $70 to $78 a share, well short of the $2tn once floated. Markets see the listing as all but done this month, and the open question is how much of the AI rout the valuation absorbs.
The president's remark adds a federal inquiry to the board's own review. Traders still see a Huang exit as a minority outcome, while Apple has retaken the title of world's most valuable company.
The apology and the political backing have not stopped the selling. Nvidia fell about 5% on a day the Dow rose about 2%, and traders now see Apple, not Nvidia, ending the year as the world's biggest company.
Huang admitted an affair with a customer's executive whom US intelligence reportedly links to Beijing. Traders still expect him to stay, but the scandal lands on a stock already knocked off the top of the world's biggest-company table.
A $615bn gap now separates Apple from Nvidia after Thursday's chip crash, and a US intelligence memo about Jensen Huang has added a risk no earnings report can fix. Traders now see Apple finishing the year on top.
Investors doubt the roadshow can start next week, and valuation talk has slid from $2tn to about $1.2tn in five weeks. Prediction markets read a delay rather than a cancellation, and see no sign that the wider economy is cracking.
Google I/O came and went without denting the market's conviction that Anthropic holds the best AI model.
Apple and Intel have struck a preliminary chip-making agreement, but no node, volume, or timeline has been confirmed.
Cloudflare laid off 1,100 employees in an AI reorg on the same day it beat Q1 expectations.
News, priced in. Journalism built on what prediction markets expect to happen next.
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