Nvidia Corporation hired the law firm Wachtell, Lipton, Rosen & Katz to lead the investigation into CEO Jensen Huang and his affair with a business executive suspected of having ties to Chinese intelligence, the Board announced on Tuesday.
Wachtell, regarded as one of Wall Street's most prestigious law firms, will appoint partner Joon H. Kim to lead the investigation. Kim previously served as acting US attorney for the Southern District of New York.
Nvidia and CEO Jensen Huang are facing a proposed class-action lawsuit accusing them of defrauding shareholders by concealing Huang's affair with a suspected Chinese spy.
Secretary of War Pete Hegseth is not going to bend to the Democrats or weak-kneed appeasers. He is still aggressively implementing his America First agenda.
On November 9, the Department of War issued a press release on how to "restore a culture of accountability and warfighting excellence" in education and training. This reform targets the Professional Military Education (PME) system. The Senior Service College Task Force reviewed PME and Hegseth then ordered the "immediate, systemic reforms" for all the Intermediate Level Education (ILE) institutions and Senior Service Colleges.
We must forge leaders of unmatched competence, sound moral judgment, and an unwavering warrior ethos. Our Senior Service Colleges must raise their standards to meet the expectations of the American people and deliver the leaders our warfighters deserve. https://t.co/oQtmNOkGSi
For too many years, America's military apparatus has prioritized woke ideology and bureaucratic compliance over battlefield readiness and leader integrity. No republic can win wars if its top officers are more concerned with skin color, political propaganda, and unnecessary paperwork than with efficiency, lethality, and character.
Thus, as the DOW press release explains:
The directive reverses decades of academic drift, eliminating ideological distractions in favor of joint warfighting mastery, decision-forcing rigor, and competitive wargaming. Under these new guidelines, the Department will evaluate military schools by a singular, uncompromising standard: "Does this program forge leaders who will win America's wars?"
To accomplish this mission, the DOW has a four-pronged approach, based on the press release. First, there will be "Warfighter Chair" positions at all the senior service colleges, which O-5 and O-6 ranking commanders who have recently returned from successful operational deployments will fill. This should provide "real-time combat lessons."
Next, there will be mandatory wargaming and end-of-course exams that comprehensively test strategy and tactics, rather than "subjective" seminar grades. The last two reforms are as follows:
Faculty Accountability: Eliminates lifetime tenure and emeritus status for newly hired civilian faculty, shifting instead to three-year, performance-based contracts evaluated on teaching effectiveness and national security research.
Rigorous Governance Oversight: Mandates the Under Secretary of War for Personnel and Readiness to directly track all tasked requirements to guarantee rapid execution.
This week we will mark the anniversary of the end of World War I, which we now observe as Veterans Day. The day before, November 10, is the 251st anniversary of the U.S. Marine Corps. Thus it is particularly appropriate that Hegseth is announcing new reforms to ensure that the next generation of American sailors, soldiers, airmen, Marines, guardsmen, and Guardians will carry on the proud and courageous legacy of America's military.
SoftBank's disclosure followed Elon Musk's claim last week on X that Masayoshi Son's investment group was "defaulting on their turbine orders," an allegation SoftBank denied.
For GE Vernova, however, the cancellation scare runs into a massive backlog. The company had 122 gigawatts of orders at the end of the third quarter, is targeting at least 130 gigawatts by year-end and is booking projects through 2031.
GE Vernova and Bloom Energy are under pressure as traders price in the risk that SoftBank's procurement woes could signal a bigger retreat and/or spread ...
UBS industrials and materials sector specialist Allyson Gordon addressed SoftBank woes and the selling pressure on GE Vernova and related stocks in a note:
GE Vernova is under pressure after SoftBank took a $3.7bn write-down on data center equipment, with the market extrapolating that news to potential turbine cancellations.
The counterargument is that GE Vernova is already booking projects through 2031 and had 122GW of backlog as of 3Q, versus a year-end target of at least 130GW, suggesting it could absorb some cancellations. Given current demand, there are also likely plenty of customers willing to take available turbines, potentially at higher prices.
Some client feedback is also questioning how much should be extrapolated from SoftBank specifically. That said, the market is clearly not in a forgiving mood, with concerns that this could be the first shoe to drop and lead to broader contagion.
Importantly, while AI Industrials are under pressure today, several individual names, including Comfort Systems USA, Johnson Controls, and Trane Technologies, are holding in relatively well. As a result, weakness in GE Vernova and Semiconductors (SOX) is not dragging the entire AI complex aggressively lower.
Long before Musk's comments about SoftBank's turbine orders and today's $3.7 billion power equipment charge, we identified some of the first cracks in the "Powering Up America" theme when SoftBank subsidiary SB Energy delayed an IPO targeting a valuation of $50 billion after bankers struggled to attract demand.
In fact, Goldman's "Power Up America" basket topped out over the summer, along with odds of Democrats winning both chambers of Congress. As of last week, the worst-case scenario unfolded for data centers in a Democratic sweep. The basket is down roughly 25% from its spring and early-summer highs near 265 to about 199.
Well, the collapse in token prices this summer and the surge in Chinese open-weight models, which have grabbed market share from US frontier models, such as OpenAI, may have also had something to do with it.
Separately, JPMorgan analyst Julian Mitchell said the write-downs could weigh on sentiment across energy equipment suppliers exposed to AI spending. GE Vernova's 2031 backlog may allow it to redirect equipment to other buyers if customers delay or cancel orders. Still, cancellations raise serious questions about the spending commitments underpinning the AI boom.
Maryland's Democrat Gov. Wes Moore's own Army supervisor in Afghanistan says the governor never led troops in combat, calling his years of claims "disingenuous" and, asked whether he thinks Moore is a liar, he said "I do," according to Spotlight on Maryland.
Retired Lt. Col. James "Jamie" Gottschling, then a major and the 82nd Airborne brigade's fire support coordinator, supervised Moore daily at Forward Operating Base Salerno. "His service in Afghanistan was good. He was a valued member of the brigade staff," he said. "It's disingenuous to say that you led paratroopers in combat or that you did what would be direct action activities in a combat zone."
In a post on X May 8, 2022, Moore wrote of "when I was an Army captain and led soldiers into combat in Afghanistan."
When I was an Army captain and led soldiers into combat in Afghanistan, we lived by a simple principle: Leave no one behind.
But for too long in Maryland, too many of our families and neighbors have been left behind.
Meanwhile, in a March 2021 podcast interview with David Rubenstein, he said, "I went over and led a group of paratroopers as a special operations officer over there." His 2015 book, "The Work," describes bullets striking the ground around him in a firefight. Gottschling says none of it matches the job Moore actually held: Moore worked for him "exclusively on information operations coordination," was never involved in employing any weapons system, and "didn't have any troops assigned to him."
"You don't really lead staff officers. You coordinate with staff officers," Gottschling said. "I like to say that we're combat veterans, but we're not veterans of combat," he said of their brigade headquarters. He said Moore sometimes left the base to meet Afghan officials, but those trips never produced hostile action.
Moore's Combat Action Badge was for a minor indirect rocket attack at FOB Salerno on Dec. 9, 2005 that injured no soldiers, not for a firefight. His military records show him qualified only as a Military Police officer, not infantry, special operations or information operations, though he told the USO's "On Patrol" magazine in 2014 that he "became special ops" with the 82nd. The Army's records put him in country for six months and 27 days, Aug. 15, 2005 to March 14, 2006, while Moore has put the deployment anywhere from 10 to 13 months in various interviews.
Moore, who is airborne qualified, did not train with the brigade beforehand or make training jumps, Gottschling said, and was not in jump status or drawing jump pay. "He's not a paratrooper," he said.
He was just as blunt about the glowing 2006 evaluation Moore received, which called him a "Top 1% officer." Gottschling, who was Moore's rater, said evaluations routinely carried inflated praise to help soldiers advance: "There's a lot of embellishment with that, but that's just how the system was." His objection is to what came after Moore came home, when he "began falsely portraying himself as a paratrooper and combat leader," in Spotlight's words, to build a political career. "It's the embellishment of the actions that really just contribute to his narrative, to his story, to his accolades, and it's self-promotion, it's self-aggrandizement," Gottschling said.
In August 2024, after The New York Times reported that Moore had listed the medal on a White House Fellows application, Moore said, "I take full accountability for an honest mistake that was made on an application that I sent out nearly 20 years ago," as FOX 5 reported. He received a retroactive Bronze Star that December. Spotlight's June 28 report quoted Gottschling saying a photo from the March 1, 2006 awards ceremony at Salerno shows Moore receiving an Army Commendation Medal, not a Bronze Star, and that "they clearly wanted to fix a political problem." Gottschling told Spotlight he was not consulted in the 2024 retroactive process and would not have concurred with it.
The Washington Free Beacon, which has followed the series, reported in May that Spotlight found Moore did not meet the degree and officer-training deadlines attached to his 1998 reserve commission. As we reported when Spotlight's editors said the series was coming, Moore's team had already been attacking the reporting before it ran.
A week ago, Anthropic told would-be investors that AI speeding up its own research might "imminently" trigger one of the company's key safety alarms. On Tuesday, in the same filing that set a price range for its record-setting IPO, it said that has now happened.
"We made a determination that we have met this threshold," the company wrote in its amended prospectus. It based the call on "what we expect from future models and our overall rate of progress, rather than on what we have observed from current models."
The safety threshold sits in Anthropic's Responsible Scaling Policy — the company rulebook for adding tougher safety measures as its AI gets more powerful. This one is triggered when AI is doing enough of Anthropic's research to roughly double how fast its models improve. The policy says that pace would pack two years' worth of AI progress, at its 2018-2024 rate, into a single year. The filing says AI "has already been accelerating our research and development." Crossing the line means more safeguards, not a shutdown.
The fear is AI will improve itself faster than people can check it. In 2023, Anthropic CEO Dario Amodei joined other AI leaders in warning that the "risk of extinction from AI" should be a global priority alongside pandemics and nuclear war.
Anthropic says humans stay in charge. It doesn't expect to safely use Claude "to fully autonomously design and build successive generations of frontier models without meaningful human supervision or understanding," the filing says, and it is weighing policy changes "to keep humans in control."
An outside group sees the same speedup. METR, an independent nonprofit that tests AI systems, estimated last week that Anthropic's models have been improving nearly twice as fast since October 2025.
METR, Yahoo Finance
In a separate review, METR called Anthropic's August argument that it was still below the threshold "overstated" and said it was "plausible" the line was crossed by mid-July.
A $1.4 trillion debut
Anthropic set its price range at $70 to $78 per share on Tuesday as it began its roadshow, the round of investor meetings before pricing. That values it at as much as about $1.4 trillion, counting every share that could exist. Trading could start as soon as Nov. 19, according to reports.
Some of the market's biggest names are tied up in the IPO. Nvidia (NVDA) and Alphabet's (GOOG, GOOGL) Google are each buying $10 billion of Anthropic stock at the IPO price, part of a $26 billion private placement with AMD (AMD), Broadcom (AVGO), Micron (MU), Microsoft (MSFT), and Taiwan Semiconductor (TSM). Amazon (AMZN) and Google already own big stakes.
For investors, the risk factors, where companies list everything that could go wrong, paint a darker picture. They warn that after a catastrophic AI incident, "no single insurer, and potentially the insurance industry in the aggregate," may have the capacity to cover the damage.
Not everyone takes the warnings at face value. "As in all S-1 filings, the risks are deliberately overstated," Constellation Research founder Ray Wang said ahead of a Yahoo Finance live show appearance last month.
A new name for AI
The same filing carries a quieter change. Anthropic swapped in "super intelligence" for "AI" in places, citing President Trump's Sept. 29 executive order telling federal agencies to use the term. Mentions of "AI" fell by about a quarter from the Nov. 2 version, by Yahoo Finance's count, though the filing treats the terms as interchangeable.
It came two weeks after Trump knocked the Wall Street Journal on Truth Social for sticking with the phrase "artificial intelligence."
Anthropic SEC filings, Yahoo Finance
As for the safety threshold, Anthropic said it is still weighing what crossing it means and will release further reports. It also flagged a bigger risk.
In the filing's words, "As we increasingly leverage Claude to accelerate progress within Anthropic, our organization may lose visibility across certain processes in a way that may become difficult for any individual or group of humans to understand and control."
PepGen Inc. (NASDAQ:PEPG) reported third-quarter 2026 financial results alongside new Phase 2 clinical data for PGN-EDODM1, its investigational treatment for myotonic dystrophy type 1 (DM1). The biotechnology company ended September with $104.8 million in cash, cash equivalents and marketable securities, which it expects will fund operations into 2028.
The company also announced results from the 10 mg/kg dose cohort of its ongoing FREEDOM2-DM1 study, reporting improvements in RNA splicing correction and several functional assessments.
