The stock market's reactions to events and catalysts recently have been unpredictable -- take the initial midterm election spike, for example.
Today is no different. Nvidia CEO Jensen Huang is in even more hot water facing federal scrutiny, but the stock is just about staying afloat. The rest of the AI trade is sinking, though, in a stark reversal of the previous session.
With that in mind, it could be a volatile day ahead. Anthropic launched its IPO roadshow early Tuesday, seeking a price range of $70 to $78 per share. The valuation may be some way off the once-mooted $2 trillion target, but it's better than a delay or worse.
Inflation data could also have a big say in how the day pans out. October's consumer price index drops this morning but it's more complicated than usual with no annual comparison.
Once you've navigated all of that, CoreWeave's earnings after the close are sure to thrust AI spending and debt concerns back into the spotlight -- if they ever left it in the first place.
It's crunch time for the AI boom.
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📈 Here's what's happening in markets today:
Stock futures are mixed ahead of inflation data.
Nvidia, Hims & Hers, JBS, Take-Two, and more stocks that explain today's market.
Inflation likely stayed too hot in October to justify a further pause in rates.
Nvidia CEO Huang gets more bad news, but Cathie Wood keeps the faith.
Why Anthropic is right to push ahead with IPO.
The case for Micron stock leaping 140%.
Chip stocks and Nvidia trade places as normal service resumes.
Fed's Waller backs big rate increase if inflation remains stubborn.
SpaceX faces early data center test in Texas.
🤖 Nvidia investors: Buy, sell, or sit tight for now?
After wading through the salacious details, one question remains: What has changed at Nvidia? Unless CEO Jensen Huang is removed from his post, it's mostly business as usual still. Future sales of Nvidia data-center chips to China are probably foreclosed, but Nvidia hasn't booked data-center sales there in some time. Read more about what to expect here.
🛜 SpaceX wants to rule wireless. Musk shares ideas how.
SpaceX hasn't kept quiet about its wireless ambitions, aiming to rival the big three Verizon, AT&T, and T-Mobile. But building out its spectrum portfolio and infrastructure could take years, even though Starlink already serves more than 13 million users. Read here for what CEO Elon Musk said about his vision for the business.
🕋 Crypto miners shifted to AI. The payoff comes later.
Pivoting to data centers may have seemed natural for former Bitcoin miners like Mara and IREN that wanted to swap crypto volatility for long-term power and compute leases. But with real payoffs still years out, post-midterm political shifts have raised a critical question: Is now the time to double down? Read about it here.
🔍 Berkshire may be buying its A shares from investors
Berkshire Hathaway appears to be supplementing its open-market purchases of the company's stock with privately negotiated sales with Berkshire holders involving its supervoting Class A shares. In the third quarter, Berkshire repurchased a record $9.6 billion of stock, mostly the Class B shares, but $3.4 billion involved the A stock. Read more here.
📺 Newly merged Skydance moving ahead in streaming plan
Skydance is moving full-steam ahead post megamerger, with plans for a bundled offering of HBO Max (from the former Warner Bros.) and Paramount+ in early 2027. The clear message is that the entertainment giant will prioritize streaming and content investment, all while managing a massive debt load. Read more about it here.
🚦 X Energy's nuclear reactor construction greenlit
Nuclear reactor developer X Energy has a jump on competitors after garnering approval for the permit to build four small reactors in Texas. The reactors are expected to power an industrial facility owned by chemical giant Dow and could start running as soon as the early 2030s. Read more about it here.
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💬 Quote of the day:
Other headlines moving markets:
AST SpaceMobile's sales were weak. That doesn't matter.
Independent 'Godzilla' stomps old-line movie studios at box office.
The Nvidia scandal threatens to upend U.S.-China tech truce.
Gates-backed Fervo says Utah power plant achieves operability.
Trade Desk's earnings defy analysts' lower expectations.
Berkshire Hathaway may have sold more Bank of America stock.
Take-Two CEO calls next Grand Theft Auto 'uncharted territory.'
New Opportunity Zone rules kick in soon. What they mean for investors.
Hims & Hers stock extends losses after earnings.
Rocket Lab backlog went to the moon. The stock is down anyway.
Pete Hegseth might get impeached. What that means for defense stocks.
The AI selloff overlooks good news -- and earnings growth.
Why ousting the Nvidia CEO may be worse than the scandal.
Boeing to lay off workers, report says, even as it struggles to build.
2 things that could hit the brakes on the AI boom. Why hyperscalers could benefit.
-- Edited by Liz Moyer, Stacy Ozol, and Rupert Steiner
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