Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump said the FBI is looking into Nvidia Corp. Chief Executive Officer Jensen Huang’s extramarital relationship with a suspected Chinese spy, and offered his support to the embattled chip magnate a day after the affair was disclosed. Despite the allegations, Trump said Monday that he spoke to Huang earlier in the day to ask how he was doing, and praised Huang as a “very honorable man.” Trump’s remarks on Monday marked the second day in a row that he has defended the Nvidia chief following Huang’s admission that he had cheated on his wife of four decades, a revelation that has plunged the chipmaker at the heart of the artificial intelligence boom into an unprecedented crisis.
2) Anthropic PBC is set to kick off the formal marketing of its blockbuster initial public offering as early as Tuesday after an apparent snafu over the filing documents added a dose of last-minute drama to a nervous market. Monday’s brief clerical misstep, in which a leaked prospectus mistakenly dangled a $69.3 billion fundraising target before getting retracted, provided an unexpected jolt to investors preparing for the Claude chatbot maker’s offering. The number, which the company reportedly later said was outdated, indicated a target that would fall short of an earlier goal of matching SpaceX’s record-setting debut.
3) President Trump offered full-throated support for Pete Hegseth, signaling that the embattled defense secretary’s job was safe for now amid a congressional effort to impeach him for his conduct of the Iran war. Republican Representative Thomas Massie introduced a measure on Monday to impeach Hegseth, roughly one week after the president’s party lost its majorities in both chambers of Congress in part because of the conflict in the Persian Gulf.

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Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) Nvidia Corp. Chief Executive Officer Jensen Huang admitted he had an affair with a woman identified in a series of reports as a suspected Chinese spy, plunging the chip colossus into a crisis like none before in its three-decade history. Huang disclosed the romantic relationship in a memo to employees on Sunday, saying the Nvidia board was launching an investigation. He had previously said there was nothing inappropriate about his relationship with the woman, who worked for a Singapore-based customer.

2) President Trump said it’s possible his administration has been “too tough” with its deportation policies, conceding that it may have hurt the Republican Party in the midterm elections. “I get hurt because we also took people that had good jobs, that created one violation, or breaking of the law, and that was that they came into the country illegally,” he said in an interview on CBS’s 60 Minutes that aired Sunday.

3) US Secretary of State Marco Rubio played down the chances of a breakthrough in talks on ending the conflict with Iran, saying Tehran’s demands to date are unacceptable and in some cases “outrageous and ridiculous.” Rubio’s comments to reporters contrasted with President Trump’s tone after CNN quoted the president earlier Sunday as saying it’s “highly unlikely” he’ll order more strikes on Iran if negotiations make substantial progress.

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In the series finale, our reporters try to crack the secretive companies behind nudify apps that let users create deepfakes in minutes. And a new case rocks another small town high school.

For official transcripts and additional information on this series, go to bloomberg.com/levittown

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