Nvidia opened an internal inquiry after the New York Times reported CEO Jensen Huang had a personal relationship with Alice Huang, a former executive of Singapore-based Megaspeed whom U.S. authorities concluded was a Chinese intelligence asset. Shares fell roughly 4.4% to 5.1% in premarket trading, erasing an estimated $231 billion in market value; Huang told employees he had been unfaithful to his wife. Analysts say a prolonged inquiry could delay certain investment decisions or product launches but is unlikely to dislodge Nvidia's lead in high-end AI processors.
World shares and U.S. futures advanced Monday after AI names recovered ground lost in last week's selloff, which drove the S&P 500 to its worst single-day drop since April 2025 and pushed the Nasdaq into correction territory. S&P 500 futures were up about 0.3% to 0.5% and Dow futures up 0.6%, with software leading while semis, memory and the Mag 7 lagged. Taiwan's Taiex led Asia with a 4.9% jump on a 4.7% rebound in TSMC.
Anthropic begins its institutional investor roadshow November 10, targeting a Nasdaq listing before Thanksgiving at roughly $1.5 trillion — down from an initial $2 trillion goal. OpenAI, racing to get ahead of it, closed roughly $11 billion at a $1.25 trillion valuation, short of its original $30 billion target at $1.4 trillion, with the round possibly reaching $20 billion in coming weeks. Neither is publicly traded yet, but the valuation haircuts are the clearest read on how far private AI sentiment has reset.
Oppenheimer's Rick Schafer moved AMD from Perform to Outperform with a $600 price target, the headline call in Monday's upgrade batch. It follows a wild week: AMD fell 13% Thursday on AI regulation fears, then ripped 11% Friday to close at $449.04. Q3 revenue rose 44.7% year over year to $13.38 billion with the data center segment up 97%, which Lisa Su called the largest and most profitable quarter in company history.
Micron opened around $690 Monday after shedding roughly 22% last week, with SanDisk down nearly 30% over the same stretch — the memory group is off about 60% from its multiple peak by some analyst math. The fundamentals haven't cracked: CEO Sanjay Mehrotra says much of Micron's calendar 2027 HBM output is already sold out at substantially higher prices than 2026, and UBS lifted its target to $275 on tight supply. Street consensus still sits well above spot, which tells you how violent the de-rating has been.
CoreWeave posts Q3 results after Tuesday's close with a 5:00 p.m. call, guiding to $3.45 to $3.6 billion in revenue against capital spending of $11.5 to $13.5 billion. The Street is modeling a loss of roughly $1.45 a share, and the real focus is the debt stack and backlog quality after weeks of data center slowdown chatter. Melius trimmed its CoreWeave target alongside cuts across the AI hardware complex.
AI-linked companies have sold or priced north of $300 billion of stock and mandatory convertibles this year, with roughly another $100 billion still on deck — raising real questions about how much paper the market can absorb and at what clearing price. Oracle is the poster child, having filed to raise $20 billion in debt and equity for its AI buildout and falling about 9% on the announcement, deepening its year-to-date loss past 39%. Melius cut its Nvidia target to $315 from $420 while keeping a Buy, explicitly citing Big Tech lining up to raise cash.
TSMC releases October monthly revenue Tuesday, the first hard check against Q4 guidance of $52.3 to $54.3 billion. September came in at roughly NT$511.86 billion, down 0.6% month over month but up 54.6% year over year, and October set a record by some reports. The stock surged 4.7% in Taipei Monday, dragging the Taiex up 4.9%.
Apple CEO John Ternus called memory pricing unprecedented on the earnings call, saying the company paid more in September than June and expects costs to keep climbing past the December quarter, with margin pressure to match. Apple's purchase obligations jumped $33 billion quarter over quarter and it's already raised prices on Macs, iPads and iPhones. Samsung sees the shortage running through at least 2028; SK Hynix says possibly 2030.
Palantir traded up about 3.5% premarket and Broadcom up 1.4% to $297.78, with software leading the bounce. Palantir's Q3 showed revenue nearly doubling past $2 billion for the first time, and U.S. commercial revenue overtaking U.S. federal, with full-year commercial guidance above $3.56 billion. On the research side, JPMorgan added Meta to its Analyst Focus List with a $940 December 2027 target, carries $375 on Alphabet, and Morgan Stanley stayed Overweight Nvidia at $300 and Broadcom at $505.
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