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Wednesday, November 11, 2026Nov 11, 2026 · morning edition

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Nvidia's board puts Jensen Huang under investigation

The chipmaker hired outside counsel after its CEO admitted an affair with a woman U.S. intelligence says has ties to Chinese intelligence, with Congress now pressing him to testify.

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8 moves
Jensen HuangLeadershipAI & techNVDAAI read · ▼ Leadership under a cloud

Nvidia hires outside law firm to investigate Jensen Huang

The move

Nvidia's board said Nov. 8 it had opened an independent investigation into CEO Jensen Huang after he disclosed an affair with Alice Huang, a technology executive whom U.S. intelligence agencies determined had passed information to Beijing; the two Huangs are not related. On Nov. 10 the board said it hired the law firm Wachtell, Lipton, Rosen & Katz, led by Joon H. Kim, a former acting U.S. Attorney for the Southern District of New York, to run the probe. In an email to staff, Huang wrote, "My actions hurt her and our children. There is no excuse for what I did." The board said it has no reason to believe national security or Nvidia's secrets were compromised, and a company representative said Huang remains committed to leading Nvidia without interruption. Nvidia shares fell more than 4% Monday and about 6% Tuesday, according to CNBC.

Why it matters

The probe puts Nvidia's most important executive under a cloud just as scrutiny of its China-related chip sales intensifies in Congress.

The bear case

The board says it has no evidence secrets were compromised, and Huang says he will keep running the company day to day, so the stock drop could prove to be a short-term overreaction rather than a lasting governance problem.

What to watch

Nov. 11 — the deadline lawmakers gave Huang to accept their request to brief Congress on the reported spy link, or propose another date.

Source · CNBCRead original ↗Report an error
Lisa SuProduct launchAI & techAMDAI read · ▲ Buying the AI dip

AMD jumps on Oppenheimer upgrade and Google Cloud deal

The move

AMD said Nov. 9 that its 5th Gen EPYC server processors now power the host infrastructure for Google Cloud's new TPU 8tx system, which AMD calls the first cloud TPU system with hardware-enforced confidential computing; the EPYC chips handle workload orchestration, data preparation and communication with the TPU accelerators. The same morning, Oppenheimer analyst Rick Schafer upgraded AMD to "Outperform" from "Perform" with a $600 price target, pointing to what he called AMD's undeniable data-center momentum. AMD shares jumped more than 11% that Monday, partly recovering from a selloff tied to midterm-election worries about AI data-center spending.

Why it matters

A cloud deal with one of the biggest AI buyers and a bullish analyst note landing the same morning both point the same direction: Wall Street still sees room for AMD's data-center business to keep growing.

The bear case

Much of Monday's move was also a broad market bounce after a sharp selloff days earlier, so part of the gain reflects relief rather than new information specific to AMD.

What to watch

AMD's fourth-quarter results, which will show whether the Google Cloud deal and other new business show up in data-center revenue.

Source · TradingNewsRead original ↗Report an error
Robert PeraEarningsAI & techUIAI read · ▲ Earnings beat sticks

Ubiquiti posts record quarter, stock jumps

The move

Ubiquiti reported fiscal first-quarter 2027 results after the close on Nov. 6: revenue of $1.03 billion, up 39.9% from a year earlier and a company record for a fiscal first quarter, with non-GAAP diluted EPS of $5.32, up from $3.46. Enterprise Technology revenue rose to $941.3 million from $657.1 million, and gross margin improved to 47.3% from 46.0%. The board declared a $1.00-per-share dividend payable Nov. 23. Shares jumped about 15% in the next session, according to TIKR.

Why it matters

The jump rewards Ubiquiti, founded and still run by Robert Pera, for showing demand for its networking gear held up even as component costs rose.

The bear case

Ubiquiti itself flagged that component costs have increased since the fourth quarter of fiscal 2026 and may keep rising, with availability potentially staying constrained.

What to watch

Whether the cost pressure Ubiquiti flagged shows up in its gross margin next quarter.

Source · TIKRRead original ↗Report an error
Warren BuffettEarningsFinanceBRK.A · BRK.BAI read · ▼ Abel opens the wallet

Berkshire profit falls as buybacks accelerate

The move

Berkshire Hathaway's third-quarter results, released Nov. 7, showed operating profit fell 6% from a year earlier to $12.71 billion and net income fell 28% to $22.11 billion, a figure that includes unrealized gains and losses on stocks it still holds; revenue rose 11% to $105.65 billion. Insurance profit fell 26% and underwriting profit fell 43%, with GEICO's pretax profit down 45% as its loss ratio rose to 76.6% from 71.5% a year earlier. BNSF Railway's profit rose 19% to $1.73 billion. Berkshire repurchased $9.6 billion of its own stock in the quarter, after $4.8 billion earlier in the year and about $2 billion more in October's first four weeks.

Why it matters

The buyback pace shows CEO Greg Abel, in his third quarter running the company since Warren Buffett stepped down as CEO at the end of 2025, is more willing than Buffett was to put Berkshire's cash to work.

The bear case

Rising GEICO claims and a weaker insurance quarter show some of Berkshire's biggest profit engines are under real cost pressure, not just a one-off dip.

What to watch

Nov. 16 — Berkshire's 13F filing, which will show whether it changed its Alphabet stake.

Source · GV WireRead original ↗Report an error
Elon MuskProduct launchAutosTSLAAI read · ▲ Another city, same questions

Tesla launches Robotaxi service in San Antonio

The move

Tesla opened driverless Robotaxi rides in San Antonio at 5 a.m. local time on Nov. 9, its ninth Robotaxi region and eighth city offering fully unsupervised rides, using Model Y vehicles. The service area covers about 274 square miles, Tesla's largest geofence at launch, including downtown San Antonio and nearly all of the area inside Loop 410. San Antonio was one of four cities, along with Las Vegas, Phoenix and Jacksonville, that Tesla named as upcoming markets on its third-quarter earnings call; Fort Worth opened a week earlier, on Nov. 2.

Why it matters

Each new unsupervised city adds driverless miles that Tesla needs to back up the robotaxi growth story investors have leaned on to justify its valuation.

The bear case

Tesla has not disclosed San Antonio's starting fleet size or fares, and a separate analysis found Tesla's real pickup and drop-off zones in Texas run 22% to 41% smaller than the geofences it advertises.

What to watch

Whether Tesla discloses San Antonio fleet size or expands service hours, as it has done in Austin.

Source · Not a Tesla AppRead original ↗Report an error
Carlos Slim Helu & familyInvestmentIndustrialsBAKAI read · ▲ Betting on distress

Slim family discloses 6.5% stake in Braskem

The move

Carlos Slim's family and two of his foundations disclosed in a Nov. 6 SEC filing that they jointly hold about 22.4 million Class A shares of Brazilian petrochemical maker Braskem, held as ADSs, equal to roughly 6.5% of the company's outstanding Class A shares. Control Empresarial de Capitales holds 1.5%, Fundacion Carlos Slim holds 4.0% and Fundacion Telmex holds 1.0%; the three entities spent a combined roughly $17.4 million buying the shares. The filing says the family bought the stake for investment, not to seek control, but that it may contact Braskem's management or board about capitalization, board composition or operations.

Why it matters

A new stake from one of the world's richest investors is a vote of confidence in a company that has struggled with weak petrochemical prices and liabilities tied to a ground-subsidence disaster in Brazil.

The bear case

A 6.5% stake described as "for investment purposes" gives the Slim family no board seat or control, and the filing itself says they may just as easily sell the shares depending on market conditions.

What to watch

Whether the Slim family's stake grows past levels that would require further disclosure.

Source · SEC filing (Schedule 13D)Read original ↗Report an error
Andreas von Bechtolsheim & familyInsider tradeAI & techANETAI read · ▼ Routine selling, big number

Arista's Bechtolsheim sells 260,000 shares

The move

A Nov. 9 SEC filing shows Arista Networks co-founder Andreas von Bechtolsheim sold 260,000 shares of the company in 16 separate trades on Nov. 5, at weighted-average prices ranging from $159.11 to $171.45 per transaction. The filing says the sales were made under a Rule 10b5-1 trading plan he adopted on Feb. 20, 2026, through a family trust for which he is trustee. After the sales, the trust still held about 180 million Arista shares.

Why it matters

Pre-arranged trading plans like this one are routine and don't necessarily signal a change in view, but the size of the sale is a reminder of how much Arista stock is still concentrated with its founders.

The bear case

Because the sale was set up months in advance under a 10b5-1 plan, it says nothing about Bechtolsheim's current view of Arista's prospects.

What to watch

Arista's next Form 4 filings for signs the selling pace is changing.

Source · SEC filing (Form 4)Read original ↗Report an error
Dara KhosrowshahiEarningsAI & techUBERAI read · ▲ Betting on other people's robots

Uber targets 700 driverless cars by year-end

The move

Uber's third-quarter results, released Nov. 4, showed revenue of $14.77 billion, up 10% year over year, and non-GAAP EPS of $0.88, up 35% year over year. Gross bookings rose 20% to $59.82 billion. For the fourth quarter, Uber guided to gross bookings of $63.25 billion to $65.25 billion and non-GAAP EPS of $0.95 to $0.99. CEO Dara Khosrowshahi said Uber expects about 700 fully driverless vehicles on its platform by the end of 2026 and more than 2,000 by 2027.

Why it matters

Uber is leaning on robotaxi partners rather than its own drivers for its next leg of growth, a shift that could reshape its costs and margins if the driverless ramp holds up.

The bear case

Seven hundred driverless vehicles is a small fraction of Uber's millions of daily trips, and the company still depends on recruiting human drivers, which its own filing lists as a risk to Mobility supply.

What to watch

Whether Uber's driverless vehicle count is tracking toward its 700-by-year-end target.

Source · Finviz (Business Wire release)Read original ↗Report an error

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