Global edition
Topic
Funding, valuations, listings, departures, manifestos and lawsuits: the capital and the people behind the race.
Nvidia's $12.93 billion purchase of Hugging Face was announced by the CEO who has now resigned. The deal still faces Justice Department questions and a first-half 2027 close.
SoftBank reported a $7 billion quarterly net loss on November 10, 2026, led by a $3.7 billion charge on nonrefundable advance payments for US data center power equipment. It is a rare, dated cost of overbuying the AI buildout.
Nvidia founder Jensen Huang resigned as CEO and director on November 12, 2026. CFO Colette Kress is interim chief, and the move tests the financing role Nvidia plays across the AI buildout.
In a November 10, 2026 speech, Federal Reserve Vice Chair for Supervision Michelle Bowman said AI debt is on track to exceed $800 billion and flagged circular financing. Headlines tied it to Anthropic's IPO, which the speech never mentions.
Anthropic launched its roadshow on November 10, 2026, offering 825 million shares at an expected $70 to $78. The top of the range raises about $64.4 billion; the valuation estimates have fallen from $2 trillion.
Nvidia's board opened an inquiry on November 8, 2026 into Jensen Huang's relationship with a suspected Chinese intelligence asset. Semafor's analysis of the board and succession record shows how little structure sits behinda company this central.
Ramp's card data shows US business spending on AI tokens grew 1.5% across August and September after 42% growth from June to July. Price cuts, not fewer users, explain part of it, and the spend is concentrated.
AMD reported $13.4 billion in third quarter revenue on November 3, 2026, with data center sales up 97% to a record $8.5 billion. The guidance for next quarter, about $17 billion, is what moved the stock.
On November 5, 2026 the Nasdaq dropped 5.5%, its worst day since April 2025, as investors worried the post-midterm politics and rising financing costs would slow the AI buildout. Asian markets followed on Friday.
Ramp's latest card-spend data shows overall business AI adoption at 55.9% in September 2026, with the gap between Anthropic and OpenAI narrowing and the blended token price down 26.8% in a month.
Reuters reported on November 6 that buyers question whether Anthropic can launch its roadshow next week and still list in November. The valuation talk has slid from about $2 trillion to $1.5 trillion to $1.6 trillion. Every figure comes from anonymous sources.
Anthropic's amended S-1, filed November 2, 2026, shows $17 billion in third quarter revenue, a $567 million operating loss and about $895.4 billion in compute commitments. Growth is still huge, but it is slowing.