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NVIDIA's board of directors announced today that co-founder Jensen Huang has resigned from his positions as President, Chief Executive Officer, and Director, effective immediately. The company's current Executive Vice President and Chief Financial Officer Colette Kress will serve as interim CEO while continuing to manage the company as CFO. The board has initiated the selection process for a new CEO, considering both internal and external candidates.The 58-year-old Kress joined NVIDIA in September 2013 and has been with the company for over 13 years, being one of the core management members who accompanied NVIDIA's growth from a graphics chip manufacturer to a global AI chip giant. During her tenure, NVIDIA's annual revenue grew from approximately $4.1 billion in fiscal year 2013 to $21.59 billion in fiscal year 2026.Before joining NVIDIA, Kress worked at Cisco for 3 years and spent 13 years at Microsoft, where she served as the financial leader of the Server and Tools division, and also worked at Texas Instruments for 8 years. She has long been responsible for NVIDIA's financial strategy, capital allocation, performance disclosure, and investor relations, serving as an important representative for the company in communications with Wall Street, and has participated in the company's quarterly earnings call multiple times.

According to a report by Reuters, three informed sources stated that Microsoft and other companies and industry groups are urging the Trump administration to stop plans to ban the import of key components for AI data centers from China. The Federal Communications Commission (FCC) is advancing a related ban involving new optical modules from China, which are used to transmit data via fiber optics within data centers and connect servers, routers, and switches. Microsoft has met with officials from the White House Office of Science and Technology Policy and the National Security Council to explain the supply chain challenges that the ban could bring.John Miller, Vice President of Policy and General Counsel at the Information Technology Industry Council, stated that many cloud service providers have procured AI chips, and without optical modules, these chips will not be able to interconnect. According to Cleanview data, Microsoft currently has 35 data centers under construction in the United States, with another 134 planned. Counterpoint Research data shows that Chinese companies account for about two-thirds of the global optical module market, with Eoptolink and Zhongji Xuchuang as major suppliers.

AI cloud service provider CoreWeave (CRWV.O) reported a 167% year-over-year revenue increase in the third quarter to $3.66 billion, exceeding market expectations of $3.55 billion, with a loss per share of $1.27, better than the expected loss of $1.46. The company raised its full-year revenue guidance from $12.4 billion to $13.2 billion to a range of $13 billion to $13.3 billion. According to MSX.COM data, after the earnings announcement, CoreWeave's stock price rose by as much as 8.7% in after-hours trading, following a cumulative decline of over 40% in the previous month and a year-to-date decline of 32%.As of the end of June, CoreWeave's debt exceeded $50 billion, with a bond yield of about 15.2% due in 2030. The company's CEO stated that investments are based on signed customer contracts, and customer prepayments also help support data center construction, with the existing order backlog sufficient to cover debt obligations. Microsoft previously stated that some emerging cloud service providers' data center projects have been delayed, tightening project oversight and exiting some high-risk projects. After the U.S. midterm elections, several newly elected officials indicated they would slow down or halt data center construction. CoreWeave stated that it plans to expand revenue by launching new services and expanding into the Asian market.

Market news reports that Anthropic has launched office tools ahead of its IPO, competing with Microsoft (MSFT.O).

Microsoft (MSFT.O) has surpassed Nvidia (NVDA.O) in market value for the first time since June 2025.

IBM and Microsoft announced the launch of a brand new artificial intelligence agent platform aimed at driving transformation in specific industries.

Anthropic officially stated that it plans to issue 825 million Class A common shares through an initial public offering (IPO). The expected IPO price is between $70 and $78 per share. Selling shareholders will additionally sell 23,648,646 Class A common shares.Anthropic's investors include Micron Technology, Microsoft, TSMC, and NVIDIA.

According to a report by Reuters, the latest draft of the prospectus shows that the artificial intelligence company Anthropic plans to issue 825 million shares in its initial public offering, with an indicative price range of $70 to $78 per share.The cornerstone investors in the Anthropic IPO include AMD, Broadcom, Google, Micron Technology, Microsoft, NVIDIA, and TSMC partners. These cornerstone investors will acquire a total of $26 billion worth of the company's common stock through another private placement.

According to a report by Decrypt, the blockchain data project Space and Time, supported by Microsoft, announced the launch of the Space and Time Enterprise platform, which allows enterprises to use private data for AI tools without relinquishing the underlying records. The platform can prove that computations based on private data are correct, enabling AI applications, auditors, and other relevant parties to verify results without accessing the database itself.The first batch of partners includes on-chain asset management firm Maple Finance, Indonesian automotive manufacturer and distributor Indomobil, Oracle software consulting company Trenez, and The Data Foundation, a nonprofit organization focused on government data based in Washington, D.C.Nate Holiday, CEO of the original developer of Space and Time, MakeInfinite Labs, stated that enterprises want AI agents to utilize this information to execute workflows, but the agents do not need unrestricted access to the records behind every computation.He mentioned that granting unrestricted data access to AI tools would create new exposure channels. The company is collaborating with clients in construction, engineering, and manufacturing to enable agents, reporting tools, and compliance teams to work based on the same set of business records and verify the computations they rely on.The platform is based on Space and Time's patented technology, Proof of SQL, which is used to prove that database queries are computed correctly and is currently compatible with Google Cloud's BigQuery. Enterprises can run it on their own servers without needing to operate a blockchain, purchase dedicated hardware, or rely on external proof services.With GPU acceleration, supported queries on millions of rows of data can be completed in one second and generate proofs. This technology can only prove that computations are correctly executed on given records and cannot determine whether the records themselves are accurate. Space and Time completed a $20 million strategic financing round led by Microsoft's venture fund M12 in 2022, and Grayscale previously launched a trust product for the SXT token.

According to Bloomberg, protests against the expansion of data centers continued in multiple locations across Europe on November 7. RTE reported that around 2,000 people participated in a march in Dublin; YLE stated that about 1,300 people gathered in Helsinki, with protests also occurring in several small towns in Finland. Demonstrators in Helsinki marched to Google's office and the location of the parliament. The Stop Dirty Data Centres alliance, composed of local democracy and climate action groups, stated that the action aims to prevent the unchecked expansion of AI data centers.Groups from Scotland, Spain, France, and Denmark participated in the action, calling for a halt to construction until the public can determine through democratic processes how related projects should serve society and the environment. Previously on Friday, hundreds of protesters clashed with police at a Microsoft data center in Amsterdam, resulting in one arrest. As technology companies invest hundreds of billions of dollars in building AI infrastructure, community residents' concerns about land and electricity demands, rising energy costs, and whether the local area can gain economic benefits have intensified. Ireland has become one of Europe's major data center hubs, with official statistics showing that data centers will account for 23% of the country's total electricity consumption by 2025.Finland is also facing large-scale construction. Google announced in September an investment of 13 billion euros, approximately 14.5 billion dollars, to expand existing data centers and build two new facilities, marking its largest investment in Europe to date. According to the Finnish Industrial Federation, data center projects in various stages of planning and construction in Finland are valued at around 80 billion euros. Reports indicate that representatives from Google cleared forest land, stripped topsoil, and built roads before the environmental impact assessment for one project was completed, causing dissatisfaction among local residents. The company responsible for the construction of the project is facing a criminal investigation, and the Finnish government is also advancing legislation to constrain AI expansion. The opposition in Europe echoes recent situations in the United States, where the expansion of data centers has become a significant issue in this week's midterm elections, with some state voters electing local officials who promised to stop or pause related construction.

After the U.S. midterm elections, concerns about tightening AI regulations and slowing data center construction have intensified, leading to a significant sell-off in U.S. tech stocks. On November 5, the "Seven Sisters" of U.S. stocks lost approximately $1.04 trillion in market value in a single day, with Nvidia dropping 9.26%, resulting in a loss of over $440 billion in market value, which is 2 to 4 times the decline of core clients like Microsoft, Google, and Amazon.The financial pressure on AI infrastructure investment is increasing. In the third quarter of this year, the combined operating cash flow of Microsoft, Google, Amazon, and Meta was no longer sufficient to cover fixed asset expenditures, with a funding gap of about $26.4 billion, whereas a year ago, the four companies still had a cash flow surplus of about $61.7 billion. Amazon's free cash flow turned from $14.8 billion in the past 12 months to a net outflow of $42.4 billion, while Meta's free cash flow turned negative for the first time in over a decade, and Google's long-term debt increased from about $20 billion to $125 billion.On Election Day, out of 41 local propositions related to data centers in 10 U.S. states, 40 of the voting results leaned towards restricting development, with 27 restrictive or oppositional propositions being passed. Research firm SemiAnalysis predicts that the impact of related policy changes on projects already underway by 2027 will be limited, but it may affect computing power expansion plans for 2028 and beyond. More than 90% of Nvidia's revenue comes from data center business; during the same period, Google Cloud's operating profit in the third quarter reached three times that of the same period last year, AWS's operating profit increased from $11.4 billion to $17.8 billion, and Microsoft Azure's revenue grew by 48%.

Binance founder CZ retweeted a warning about a critical vulnerability in Microsoft Paint, stating: "The application cannot protect you from operating system vulnerabilities, please update your operating system immediately."It is reported that Microsoft has disclosed a Windows Paint vulnerability numbered CVE-2026-83844, with a CVSS score of 8.1, affecting versions of Microsoft Paint below 11.2605.91. The vulnerability stems from an out-of-bounds read issue, which could allow an unauthenticated attacker to remotely execute malicious code without user interaction. Microsoft has released a security patch, and there have been no confirmed reports of the vulnerability being actively exploited. CZ uses this to remind users that application layer security measures cannot replace the security updates of the operating system itself, and system and software patches should be installed promptly.

According to a report by The Information, Microsoft has reduced its capital expenditures for the third quarter by about $5 billion due to delays in the third-party data center it plans to lease. Sources say that the data center project by Iren located in Childress, Texas, has encountered delays, leading Microsoft to postpone some expenditures. Microsoft had previously announced plans to invest $9.7 billion over five years to lease servers equipped with NVIDIA GPUs from Iren.Power supply and grid access have also become bottlenecks for computing power delivery. Last month, Microsoft withdrew from a plan to lease a data center project in the UK from Nscale due to delays in grid access. As self-built data centers struggle to meet demand in a timely manner, Microsoft is simultaneously leasing computing power from multiple cloud service providers.Meanwhile, AI server supplier Supermicro continues to raise its performance expectations. The company's revenue for the first fiscal quarter reached $19.95 billion, exceeding analysts' expectations of $16.39 billion, and it expects revenue for the second fiscal quarter to be between $19.5 billion and $21.5 billion. The revenue forecast for fiscal year 2027 has also been raised from $65 billion to $72 billion to $72 billion to $82 billion. Bernstein pointed out that assessing AI computing power demand cannot simply rely on contract amounts or megawatt scale; it also needs to consider contract cancelability, duration, and actual deployment time; some projects may be delivered in phases, and chip procurement agreements may correspond to the same batch of computing power as data center leasing contracts.

Despite the panic in the market caused by stricter regulations on data centers after the Democratic Party gained control of Congress, Goldman Sachs has raised its forecast for U.S. data center construction spending, increasing the 2026 expectation from $67 billion to $80 billion, and from $87 billion in 2027 to $100 billion, while also predicting for the first time that it will reach $125 billion in 2028.Goldman Sachs pointed out that there are currently about 86 GW of data center projects under construction in the U.S., with approximately $900 billion in high-confidence projects awaiting construction, indicating that the overall construction cycle remains resilient. The demand and backlog orders from hyperscale cloud service providers such as Microsoft, Amazon, and Google have not shown significant cooling, with H100 computing power rental prices rising 26% year-on-year and GB200 rental prices increasing by 50% since the beginning of the year.In response to the data center moratorium proposed by Texas Governor-elect Gina Hinojosa, Goldman Sachs believes that its impact is more about delaying project delivery rather than directly canceling construction plans, but it may lead to increased financing costs, reduced tax incentives, and some clients canceling contracts. Goldman Sachs also warned that the overall growth prospects of the industry need to be distinguished from the survival capabilities of individual developers, as highly leveraged data center developers may face severe financial pressure due to project delays and rising financing costs, with some companies potentially unable to last until their projects go into production.

Market news indicates that Microsoft is gradually terminating its transactions with Oracle related to renting artificial intelligence cloud computing power.

Cloud service company Iren expects to make significant investments in the foreseeable future, including capital requirements related to agreements with Microsoft and Nvidia.

In the U.S. midterm elections, 40 out of 41 ballot measures restricting data center construction are expected to pass. Despite significant investments in data centers by Microsoft and Amazon, their stocks fell approximately 2.5% and 1.5%, with declines lower than other related companies.The market believes that the slowdown in construction will help reduce capital expenditure pressure and improve free cash flow. Attention should be paid to the regulatory agenda and local policy implementation after the Democrats take control of Congress.