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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Ed Ludlow, Bloomberg Tech Anchor, discusses news that Nvidia Chief Executive Officer Jensen Huang was ousted from his post after reports of two affairs, including one with a woman suspected of spying for China. Longtime Chief Financial Officer Colette Kress is taking the job of interim CEO, and the board appointed director Harvey Jones as chair.

-Kunjan Sobhani, Bloomberg Intelligence Senior Semiconductor Analyst, gives reaction to Nvidia news. According to Bloomberg Intelligence: Nvidia's ouster of President and CEO Jensen Huang is unlikely to alter fiscal 2027-28 estimates, but raises longer-term risks around succession, future deal velocity and China scrutiny as investors reassess the broader "Jensen premium." Huang's role spanned product strategy, sovereign and AI-lab relationships, financing and neocloud capacity, putting greater focus on succession planning, board oversight and strategic continuity.

-Leland Miller, CEO of China Beige Book, gives reaction to Nvidia news and discusses China impact. Leland says the DoC is now scrambling to draft a baby reg to expand licensing policies on remote access to Nvidia chips to 7 countries (Singapore, Malaysia, Thailand, Indonesia, Brazil, S.Africa and bafflingly, Norway). But under this: China could still get access to Nvidia chips from everywhere else.

-Robert Schiffman, Senior Tech Credit Analyst for Bloomberg Intelligence, gives reaction to the Nvidia news from a credit perspective. According to Bloomberg Intelligence: A potential change in Nvidia leadership poses little threat to its AA credit profile, though the board's search for possible successors to Jensen Huang could prolong volatility across AI-linked debt and equity markets. A CEO change should do little to disrupt aggregate hyperscaler capex or AI funding through unsecured debt, LLM IPOs, private capital and project finance, though volatility could delay issuance or lift financing costs.

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Bloomberg Intelligence hosted by Paul Sweeney and Avalon Pernell

- Vasu Kasibhotla, Bloomberg Intelligence Senior Industry Analyst, recaps CoreWeave earnings. CoreWeave Inc. shares jumped after the company eased fears about its debt-laden business and signaled strong sales growth despite headwinds facing the data center boom. The company projected revenue of $13 billion to $13.3 billion this year and expects to take out another loan soon that will carry an investment-grade rating.

-Gautam Mukunda, Lecturer at Yale School of Management and Bloomberg Opinion Contributor, discusses Nvidia's investigation of Chief Executive Officer Jensen Huang's affair with an alleged Chinese spy.

-Anthony Hughes, Bloomberg US Equity Capital Markets Reporter, discusses Anthropic's upcoming IPO. Anthropic PBC’s initial public offering has drawn multiple times the orders for the shares available, according to people familiar with the matter. The company and its co-founders are seeking to raise as much as $90.4 billion in the IPO and a private placement, its filings show. The company is targeting a fully diluted valuation of about $1.4 trillion, and reported a revenue run rate of $81 billion as of Oct. 31.

-Michael Dean, Bloomberg Intelligence Head of Global Autos, discusses Volkswagen scrapping a major advanced-manufacturing project at its headquarters due to strained finances. The company will continue work on its next-generation electric platform and models, including the ID. Roc, a planned electric SUV. Volkswagen's works council chief accused the company of a 'flagrant breach' of a December 2024 agreement and labor will resist moving production of the combustion-engine Golf from Wolfsburg to Mexico.

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Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.

Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

**Broadcasted LIVE from BAM Mutual in NYC**

- Bailey Lipschultz, Bloomberg News Senior Equities Reporter, discusses Anthropic seeking a valuation of about $1.4 trillion in its initial public offering, in a bid to make history as the first frontier artificial intelligence lab to go public. The company and its co-founders are seeking to raise as much as $90.4 billion in the IPO and a private placement, with the base offering set to raise up to $64.4 billion.

- Michael Shepard, Bloomberg News Senior Technology Editor, discusses President Donald Trump saying the FBI is looking into Nvidia Corp CEO Jensen Huang's extramarital relationship with a suspected Chinese spy. Trump spoke to Huang and praised him as a "very honorable man," saying he believes Huang didn't know the woman was a spy. The revelations have sent Nvidia's shares plunging and threaten to reverberate across the artificial intelligence industry, with the company's board conducting an investigation into whether Huang was the target of a foreign intelligence effort.

- Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, recaps Skydance earnings. Skydance Corp. will release a streaming bundle that includes both the Paramount+ and HBO Max services early next year, offering "even greater value" for consumers. The company reported a 5% increase in revenue overall, with gains in the streaming and studio divisions offsetting a decline at the TV networks, and posted adjusted earnings before interest, taxes, depreciation and amortization of $1 billion.

- Nathan Naidu, Bloomberg Intelligence Technology Research Analyst, discusses earnings from Take-Two Interactive. According to Bloomberg Intelligence: Post-2Q Earnings Outlook: Take-Two's unchanged fiscal 2027 bookings guidance looks increasingly conservative, thanks to GTA VI demand, presaging added upside if launch momentum holds. Management's decision to retain guidance, days before release, reflects timing, rather than weaker demand. Cannibalization is the key risk: NBA 2K27's softer-than-expected sales show consumers are already deferring spending ahead of GTA VI. Still, the 3Q target calls for 12% recurrent consumer-spending gains, reversing declines in the prior two quarters, as GTA VI Ultimate Edition's add-on content lifts recurring-spending mix.

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