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Bloomberg Television46 min

Nvidia Names Kress Interim CEO After Huang Exit as Trump Cools on Iran Deal

Kress, Huang, Trump, Anita Krishna Gupta, Pål Kildemo, Jack Hidary, Toon Gyssels, Abir Abomar, Winnie Su, Min Min Lo, Stuart Livingstone-Wallace, Greg Sullivan, Hussain Sajwani

Interview, Press Conference
  • NVIDIA earnings and an all-hands meeting are scheduled for next week, with share price volatility anticipated over the next two to three months during a CEO search that involves external and internal candidates and is projected to last at least a couple of months.
  • Despite short-term volatility, NVIDIA's long-term share price recovery is expected as revenue and earnings growth rates remain at 100% with intact fundamentals.
  • Asian stocks and Hong Kong technology equities face caution or struggle ahead of U.S. PPI data and NVIDIA results, alongside rising expectations of tightened U.S. export controls on China.
  • U.S. tech curbs on China may tighten this month with new laws targeting remote access via overseas data centers, while three additional proposals under negotiation could further restrict access or require supply chain tracking.
  • The U.S.-China trade truce is set to expire in January, with any extension contingent on a U.S. pause to new technology curbs.
  • Bloomberg Intelligence forecasts potential U.S. bans on pure-play Chinese AI firms like Moonshot, ZAI, Minimax, Alibaba, and ByteDance due to alleged reliance on overseas data centers.
  • Overseas data centers are projected to provide roughly one-third of China's compute capacity by 2027, making them a primary target for restricting China's access to compute resources.
  • Legislation such as the MATCH Act and Chip Security Act may be negotiated to compel allied nations to align with U.S. export rules or mandate physical chip supply chain tracking.
  • Corporate governance oversight in Silicon Valley and Wall Street is expected to increase regarding board diversity and the independence of founder-led boards.
  • Brent crude prices fluctuated slightly following comments by President Trump regarding the Iran conflict, while the Japanese yen trades near the 160 level against the dollar, prompting intervention monitoring.
  • Emirates Global Aluminum expects to return to 100% production and full supply chain capacity in the first quarter of next year following disruptions, with plans to expand local refineries and technology investment.
  • Anthropics IPO is projected to be six times oversubscribed targeting a $1.4 trillion valuation, with shareholders predicted to perform well over the next two to three years.
  • OpenAI is anticipated to pursue an IPO in the first or second quarter of 2027, marking a shift from individual productivity to transformative industry deployments in sectors like biopharma and energy.
  • The year 2027 is also forecasted as a period of convergence between large language models and large quantitative models, with Sandbox AQ collaborating with Bahrain on biotech assets for the GCC.
  • Talabat reported Q3 growth with an EBITDA of 5% and net income of 3.4%, exceeding initial margin plans, while continuing to expand its active user base of 8.7 million across eight markets.
  • The potential merger between Delivery Hero and Uber is expected to close one year from now following regulatory review.
  • Investors anticipate billions in returns from AI firms like Anthropic, citing a $1.4 trillion valuation.
  • Microsoft is expected to require time to restore access to flagship software products including Outlook, Teams, and Copilot following a recent major outage.