GOP Thwarts Hegseth Impeachment; CoreWeave Quiets AI Doubts
Notes de l’épisode
Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) House Republicans blocked the impeachment of Defense Secretary Pete Hegseth for US military actions in the Middle East and Latin America, effectively killing the effort until Democrats take over Congress in January. GOP leaders forced a procedural vote to block quick consideration of the impeachment measure introduced on Monday by Kentucky Republican Thomas Massie. That procedural step, which sends the measure to the Judiciary Committee where it’s expected to languish, passed 211-204.
2) Nvidia Corp.’s investigation of Chief Executive Officer Jensen Huang’s affair with an alleged Chinese spy is raising questions about the company’s future and sending its stock into a tailspin. In the wake of Huang’s shocking disclosure in a memo to Nvidia employees on Sunday, Wall Street is wondering if the biggest and most important artificial intelligence chipmaker will be able to keep its leader and public face. Nvidia shares had been under pressure prior to this crisis as investors increasingly questioned the durability of the AI trade and the hundreds of billions of dollars in capital expenditures that are funding it.
3) CoreWeave Inc. eased fears about its debt-laden business during a high-stakes quarterly report, indicating that sales growth remains strong despite challenges facing the data center industry. The AI computing provider projected revenue of $13 billion to $13.3 billion this year. That exceeded its previous range of up to $13.2 billion and sailed past the $12.9 billion that Wall Street had predicted. The outlook offered some solace to the battered neocloud industry, which provides computing power to AI developers. Though the company has been signing new customers and adding infrastructure, its rapid spending and heavy debt load have worried investors.
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