zerohedge
Financial Blog and News Aggregator
Nvidia’s tabulations, as relayed to the US government, undercounted the number of chips it had sold to Megaspeed via hardware partners by 50,000 units, according to trade records analyzed by Bloomberg.
x.comMixed
The reported 50,000-chip undercount raises questions about Nvidia’s accounting to the government; Nvidia said in December 2025 it located the hardware in additional warehouses but gave no exact count.
Jukan
Semiconductor & AI Infrastructure Research at Citrini
According to The Information, NVIDIA has long lobbied hard against proposals to restrict Chinese companies’ access to its latest chips through overseas cloud providers. But since the scandal surrounding Jensen Huang broke, that lobbying appears to carry less weight in Washington.
x.comSupports
The Information reports weaker lobbying influence and easier progress for MATCH, Overwatch and Chip Security bills, adding export oversight and chip tracking to potential fallout before January’s congressional handover.
Andrew Martin Johnson
CFO & Chief Legal Officer of AST SpaceMobile
We continue to work on several Q4 revenue opportunities that will ultimately determine where we fall within our guidance range, but have high confidence that revenue acceleration this quarter will result in achievement of our full year 2026 revenue guidance with potential upside.
Supports
Management expresses high confidence in achieving the $150M–$200M FY2026 revenue guide, with potential upside, while Q4 opportunities will determine where revenue lands within the range.
AST SpaceMobile, Inc.
Space-based cellular broadband network
We expect to spend several hundred million dollars of incremental CapEx in 2027 associated with Blacklift.
Challenges
AST expects several hundred million dollars of incremental Blacklift capex in 2027, increasing demands on its $3.2B cash balance during the delayed satellite rollout.
Reuters
Global News Agency
But sales of Tesla’s stainless-steel, angular truck — once described by MotorTrend magazine as having a “stealth-bomber-refrigerator design theme” — sagged 28% this year through September, to about 11,600 trucks, according to an estimate from research firm Motor Intelligence.
tradingview.comSupports
Estimated Cybertruck sales of about 11,600 through September, down 28%, reinforce the low-volume baseline Cybercab’s paid-mile revenue would need to beat.
Lyn Alden
Investment Strategist, Author of Broken Money
[Replying to Nic Cruz Patane: "This is why Tesla is going all-in on Cybercab"] I’ll fade 500k mile standard lifetimes anytime soon. Would require battery and other overhauls multiple times. ... And when it becomes a large market there will be competition.
x.comChallenges
She disputes standard 500,000-mile lifetimes anytime soon, arguing repeated battery and other overhauls plus eventual competition could erode Cybercab’s projected $50,000 lifetime operating profit.
Fireside Alpha
Business, Technology and Investing Interview Digest
Gavin Baker on memory LTAs: ... If you break your LTA, and then in the next two or three years, for any reason, leverage shifts back to the memory guys, you’re out of business. It’s over.
x.comSupports
He argues buyers risk future memory allocations by breaking LTAs, supporting the durability of Samsung’s targeted 60–70% contract coverage even through oversupply.
Jukan
Semiconductor & AI Infrastructure Research at Citrini
Joint design also constrains which HBM gets used, but I don't think it settles who carries the inventory burden when accelerator demand misses. Say the production plan is cut from 1 million units to 800,000. Is the customer obligated to take the 200,000 units' worth, or can the m…
Challenges
He argues HBM design ties may leave inventory risk with suppliers when accelerator demand falls, weakening the earnings protection expected from Samsung’s targeted 60–70% LTA coverage.
Michael Monaghan
Partner and Portfolio Manager of the Founders 100 ETF
So for our fund, we're so dedicated and disciplined to investing in founders only as our strategy in FFF that if a founder is to leave our process is to sell the stock. So we certainly don't want to see Jensen go. I think in any shareholder vote, we're quite supportive of Jensen…
Mixed
Says his founder-only fund would sell Nvidia if Huang left and supports retaining him; this establishes conditional selling, while his view that departure is unlikely weighs against the removal forecast.
James Stavridis
Vice Chairman of Carlyle, Chair of the Rockefeller Foundation Board
I don't envy the board of directors there. They're going to have to move with real alacrity, get an outside set of eyes on this and make some, I think, hard decisions.
podcasts.apple.comSupports
Urges Nvidia’s board to act quickly, obtain outside scrutiny and make hard decisions, supporting pressure for board action while acknowledging the allegations may be inaccurate.
Cameron Dawson
Chief Investment Officer of NewEdge Wealth
Positioning has fallen now to the 20th percentile in something like the Deutsche Bank Consolidated Positioning Survey, which means that this volatility has been responded to with people exiting the market, not just rotating within. ... Valuations are down 30% year over year.
podtrac.comSupports
Reports positioning at the 20th percentile and valuations down 30% year over year, evidence of investors exiting that she sees as creating room for a seasonal relief rally.
Mike Wilson
Chief Investment Officer and Chief U.S. Equity Strategist of Morgan Stanley
The good news is that this correction looks much closer to the end than the beginning. ... I would not be surprised to see one more test of last week's lows, perhaps even a break on lower momentum. ... a more hawkish Fed could stretch the bottoming process into December. Equity v…
Mixed
Supports the expected bounce, but a possible retest and a hawkish Fed could stretch the bottoming process into December, keeping the timing choppy.
Stephen Witt
Author of The Thinking Machine, Investigative journalist
I would be surprised if the board fired him. I don't think that would be in the best interest of Nvidia shareholders. And that's their job, right? I think that would make Nvidia's stock go down a lot. So, I don't think the board will do that.
youtube.comSupports
Expects Nvidia’s board to retain Huang, arguing dismissal would harm shareholders and drive the stock down sharply; this favors leadership continuity.
Reuters
Global News Agency
The Information reported on Tuesday, citing two people who know her. ... When orders for Nvidia chips subject to US export restrictions stalled, Alice Huang used ties to Nvidia and its distributors to secure supplies, helping move about 240,000 H100, H200 and some A100 chips into…
Challenges
Alleges Alice Huang used ties to Nvidia and distributors to move about 240,000 H100, H200 and some A100 chips into China after restricted orders stalled; Nvidia has not responded to the report.
The Transcript
Weekly Earnings-Call Quotes Newsletter
$ANT Goldman Sachs projects Anthropic's revenue to exceed $600B by 2030, over 130x its 2025 revenue, via FT: ... Operating losses to rise from $8.1B in 2025 to a $40.4B peak in 2027, before profitability in 2029. ... FCF outflows to peak at $65.7B in 2027, turning positive in 203…
Mixed
Goldman forecasts rapid revenue growth but $65.7B of cash outflows in 2027, adding a quantified funding hurdle to the possible post-IPO Hut 8 takeout during the 2–3 year hold.
Brad Gerstner
Founder & CEO of Altimeter Capital, Founder of Invest America
[Anthropic] “Our Run-Rate Revenue was approximately $81 billion as of October 31, 2026, up $10 billion from September 30, 2026.” ... Which included a 40% price cut.
x.comSupports
Gerstner highlights a $10B monthly increase in Anthropic's annualized revenue despite a 40% price cut, strengthening demand evidence behind the IPO prerequisite for Hut 8's possible takeout.