Friday 13 November 2026
Top stories today:
NVIDIA closes -4% as Jensen Huang resigns, CFO named interim CEO
Googleās Gemini 4 Hydrogen debuts as āmajor standalone upgradeā
Kalshi seeks funding at $65B valuation as annual run rate tops $5B
SpaceX, Tesla in advance merger talks, deal possible as soon as Dec.
Nebius -17% on weak outlook, higher CAPEX, Q3 revenue +571% YoY
0. Data & Calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing todayās newsletter (beware of hallucinations):
1. NVIDIA closes -4% as Jensen Huang resigns, CFO Colette Kress named interim CEO
Huang stepped down as CEO, president, and board member amid the Chinese spy probe.
Trump reportedly urged Huang to fight for his job during a Tue. call.
A second intimate relationship with an employee was also reported involving Huang.
Commerce Secy Lutnickās ouster is reportedly under discussion among senior White House officials following the NVIDIA spy scandal.
Sen. Tim Scott asked Huang and Lutnick to testify at separate hearings in Dec.
Alice Huangās firm reportedly obtained smuggled NVIDIA chips for Shanghai data center.
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3. Googleās Gemini 4 Hydrogen debuts as āmajor standalone upgradeā over Gemini 3.8 Flash
Gemini 4 Hydrogen surpassed GPT-6.1 Terra and Gemini 4 Argon on the Artificial Analysis Intelligence Index but trailed Claude Sonnet 5.5 and GPT-6.1 Sol:
Costs $1.5/$7.5 per 1M input/output tokens, vs. Sonnet 5.5ās $2/$10, GPT-6.1 Terraās $1/$5, and Kimi K3.1 Proās $2/$10.
Available via AI Studio, Gemini API, Search, and Antigravityās AI Pro and Ultra tiers.
Google Antigravity also added Orchestrator, which dynamically switches between models like Carbon and Hydrogen for AI Ultra subscribers.
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5. Kalshi said to seek funding at $65B valuation as annual run rate tops $5B
Kalshi is reportedly pursuing another private funding round despite expectations that its previous raise would be its last before an IPO.
Kalshiās monthly notional trading volume reached $97B in Oct., up from $40B in Aug.
Separately, Kalshi ended its contract with Donald Trump Jr. after his VC firm 1789 Capital increased its stake in Polymarket.
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7. SpaceX, Tesla said to advance merger talks, deal possible as soon as Dec.
SpaceXās market cap stood at $1.92T on Thu., vs. Teslaās $1.57T:
The companiesā boards and advisers are reportedly hammering out deal terms and the combined entityās governance structure.
A conglomerate spanning EVs, energy storage, rockets, and satellites would emerge from the merger.
Separately, SpaceX plans $74B in U.S. data centers, with AI generating 50%+ of Oct. revenue.
