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Today was a big day for financial markets.
Here are the 8 headlines you need to know ↓
1. U.S. PPI rises to 6.5% in October, lower than expectations.
2. Tesla and SpaceX could announce a record $3.4 trillion merger as soon as December.
3. Nvidia employees reportedly petition the board to bring back Jensen Huang as CEO.
4. Apple hits a new all time high of $360.
5. OpenAI launches ChatGPT Wallet, allowing AI agents to make purchases for users.
6. Senior democrats say banning Congress from trading stocks is a “top priority” after winning the U.S House and Senate.
7. The FAA issues a nationwide “ground stop” for all U.S. airports following a communication issue impacting all Air Traffic Control Centers.
8. Elon Musk says he is signing a petition to reinstate Jensen Huang as Nvidia CEO.
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NEW IN: The FAA has issued a nationwide "ground stop" for all U.S. airports following a communication issue currently impacting all Air Traffic Control Centers.
Be Jensen Huang:
• Starts Nvidia in 1993. By 1996, the company is nearly bankrupt. He lays off half the staff and tells the team they are “30 days from going out of business.”
• In 1997, Nvidia wins a Sega contract, but Jensen realizes the chip won’t work. Sega invests $5M anyway, giving Nvidia six more months to survive and pivot.
• The pivot works. Nvidia goes public in 1999 and launches the GeForce 256, calling it the world’s first “GPU.” It goes on to dominate PC gaming.
• Jensen notices PhD students using Nvidia gaming cards for complex math. He realizes the GPU is much bigger than gaming and starts investing heavily in that future.
• Throughout the 2000s, Nvidia pours profits into developing CUDA, a software platform that makes GPUs programmable for AI, scientific computing, and many of the heaviest workloads that CPUs can’t handle.
• In 2016, Jensen hand-delivers Nvidia’s first AI supercomputer, the DGX-1, to Elon Musk for OpenAI to train a 'generative model'.
• In 2022, Nvidia stock crashes 66%. The PC market slows, Ethereum kills GPU mining, resale prices collapse, and revenue guidance falls.
• While the industry slows down, Jensen aggressively secures TSMC's limited CoWoS packaging capacity (the bottleneck for AI chips) betting the farm that the "big AI moment" is imminent.
• In Nov 2022, OpenAI launched ChatGPT. Suddenly, every major tech company wants thousands of Nvidia H100s at $30K each.
• From 2023 to 2025, big tech pours hundreds of billions into AI infrastructure. Nvidia becomes the choke point. CUDA keeps developers locked in.
• Nvidia becomes the most valuable company in the world, valued at $4.3 trillion, and Jensen owns approximately 3.5% worth $150+ billion.
• Then everything starts to unravel.
• On November 8, 2026, Nvidia’s board opens an investigation into Jensen’s relationship with a “Chinese spy” after he admits to an affair.
• On November 11, the NYT reports he also had an affair with Nvidia’s V.P of Healthcare, who reported directly to him.
• Today, Jensen Huang resigns as Nvidia CEO, president, and board member, effective immediately.