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Five Minute AI

Trading & Investing · 8 min read · By Mathieu Dugue

AI Markets: Nvidia vs. Huang, Anthropic sets its price

Nvidia’s board is reportedly weighing its CEO’s future, according to press reports. Anthropic announces pricing for its Nasdaq debut, and CoreWeave eases concerns about its debt.

AI Markets: Nvidia vs. Huang, Anthropic sets its price

Nvidia’s board is reportedly weighing its CEO’s future, according to press reports. Anthropic announces pricing for its Nasdaq debut, and CoreWeave eases concerns about its debt.

Nvidia: the board is reportedly weighing Jensen Huang’s fate

The Wall Street Journal reports that Nvidia directors are considering pushing out their CEO. The company has confirmed nothing, and Reuters was unable to independently verify the report.

Key points:

  • On November 8, the board opened an independent investigation and brought in the law firm Wachtell, Lipton, Rosen & Katz.
  • Jensen Huang acknowledged a relationship with an executive at an Nvidia customer who is suspected of spying for China. The board says it has no reason to believe any secrets were leaked.
  • According to the WSJ, citing anonymous sources, the directors could meet very soon. The stock fell about 7% in after-hours trading.
  • According to Bloomberg and Semafor, the board is already working on potential successors, with CFO Colette Kress as a possible interim pick.

What’s established, and what isn’t

The hard facts are few. An investigation is underway. The CEO admitted to the relationship in an internal message. The board initially said it still had confidence in him.

The rest comes from anonymous sources: the idea of a firing, the names of successors, the timing of a meeting. None of it has been confirmed by Nvidia. Read it as press reports, not decisions.

The market angle

Nvidia carries a market cap of more than $4 trillion. When its founder-CEO wobbles, the whole AI chip market shakes. According to Stocktwits, the stock was down 7% on the week and headed for its sixth straight weekly decline.

The betting site Polymarket put the odds of Huang leaving by year-end at 88%. That’s a wager by internet users, not information, but it shows the market’s state of mind. An analyst quoted by Reuters, Gil Luria, notes that Nvidia has no succession plan ready.

Different issue, different pressure: according to The Information, the U.S. Commerce Department is preparing rules to block Chinese companies from remotely accessing advanced chips through data centers abroad. Seven countries would reportedly be targeted, including Malaysia, Singapore and Thailand. Alibaba fell 5% in Hong Kong and Tencent 1.5% on the news.

For a European investor, Nvidia is a U.S. stock: it isn’t eligible for a PEA. You can get exposure through a brokerage account, or through UCITS ETFs where it carries heavy weight, which means the same volatility.

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Anthropic reveals its price range for its Nasdaq debut

The roadmap finally has numbers. Anthropic published its terms on November 10, as it kicked off its investor roadshow.

Key points:

  • Range: $70 to $78 per share, for 825 million shares, under the ticker ANT on the Nasdaq.
  • Public offering: up to $64.35 billion at the top of the range, plus a $26 billion private placement.
  • Target valuation: about $1.4 trillion, versus $965 billion in the May round.
  • Listing expected on November 19 or 20, according to the WSJ and Reuters. Nothing has been officially announced.

Who buys first

Nvidia and Google (Alphabet) would each buy $10 billion at the IPO price, as part of the $26 billion private placement. AMD, Broadcom, Micron, Microsoft and TSMC are also participating. These buyers get non-voting shares and are exempt from the six-month lockup imposed on everyone else.

The market angle is direct: several of Anthropic’s major suppliers are investing in their own customer. The market reads this two ways. For some, it’s a sign of confidence. For others, it’s a loop where the money ends up right back where it started. Both readings exist; neither is proven.

Mechanics to watch

First: the index fund effect. Since May, a Nasdaq rule allows a new listing ranking among the 40 largest to join the Nasdaq-100 after 15 trading sessions. Funds that track the index, like QQQ, then have to buy. For SpaceX, JPMorgan had estimated those purchases at about $4.3 billion, and the stock fell about 15% in its first week in the index.

Second: the lockups. Most existing shareholders can’t sell for 180 days, and the founders for up to a year. Analysts point to the end of these periods as a risk for the stock.

Not all the numbers are clear: one article cites a $80.7 billion net loss over six months, while another reports a $1.3 billion operating loss over nine months. We’re leaving them out since we can’t reconcile them.

For a European saver, ANT will be a U.S. stock, not PEA-eligible. You’ll need a brokerage account, or have to wait for it to show up in UCITS ETFs.

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CoreWeave: solid results and cheaper credit

This was the test the market was waiting for. CoreWeave, the heavily indebted “neocloud,” reported earnings on November 10. The stock closed up 24.7% the next day, at $60.77.

Key points:

  • Third-quarter revenue: $3.66 billion, up 168% year over year.
  • Backlog: about $132.5 billion, versus about $104.2 billion at the end of June.
  • 2026 revenue guidance raised to $13.0-13.3 billion, above the $12.9 billion analysts expected.
  • According to Bloomberg, an “investment grade” loan of at least $4 billion is in the works.

What reassured investors

The biggest worry was the cost of debt. CoreWeave’s bonds were yielding more than 16% in early November, according to our previous editions. The $4 billion loan, led by Morgan Stanley and MUFG, would reportedly target a 7% to 7.5% yield, roughly half that. It would be secured by the chips and customer contracts. It could launch as early as the week of November 16, with terms still subject to change.

CEO Michael Intrator said the company would not tap the unsecured bond market “at current yields.” The CFO added that it would rely more on loans backed by customer contracts. CoreWeave also has about $9 billion in customer prepayments, which Intrator describes as the cheapest source of capital.

The limits

The rebound remains fragile. That same evening, the stock lost about 5% after the Nvidia news; Nvidia is both its main supplier and an investor. According to Stocktwits, the stock is still down about 15% since January.

The loan isn’t signed: it’s a press report. Intrator also said he had canceled his planned stock sales, which addresses criticism over sales by the co-founders.

For a European investor, CoreWeave trades on the Nasdaq: no PEA. Its weight in “AI” or “data center” UCITS ETFs remains limited; check fund by fund.

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Agility Robotics lists on the Nasdaq, the first public humanoid

A humanoid robot company is now publicly traded in the U.S. Agility Robotics began trading on November 5, under the ticker AGLT, after merging with the blank-check vehicle Churchill Capital Corp XI.

Key points:

  • About $465 million in gross proceeds, according to press releases picked up by the media.
  • Pre-deal valuation: about $2.5 billion.
  • Merger closed on November 4, listing the next day.
  • More than $300 million in announced multiyear orders, subject to conditions.

Where the money comes from

About $164 million comes from Churchill’s trust account, $201 million from a private placement led by Foxconn, and $100 million had already been received before closing. That last amount is therefore not fresh money on listing day.

A bet on the future

The market angle is simple: investors are looking for a way to buy into humanoid robotics, and there are few pure plays. Agility bills itself as the first of its kind listed in the U.S. with commercial deployments.

The numbers call for some perspective. According to Business Insider, as cited by one outlet, the company reported $1.8 million in revenue and a $138.1 million net loss in its last fiscal year. The announced orders hinge on contract milestones, and one report ties them to a single customer, for 1,000 robots over three years.

Another press article, from Bamboo Works, runs the headline that robotics dreams are getting too expensive for investors. That’s an opinion, and a reminder that the sector’s giant fundraises are still bets.

For a European saver, AGLT is a U.S. stock, not PEA-eligible. Access goes through a brokerage account, or through thematic robotics UCITS ETFs that won’t necessarily include this stock.

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Edition prepared by our monitoring agent (data and sources as of Thursday, November 12, 2026), reviewed in line with our editorial policy. General information, not investment advice: investing carries a risk of capital loss.

⚠️ This is not financial advice. When you invest, you can lose money.

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