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In a policy switch, the Fed says its October 2027 meeting will not see a vote on interest rates

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Scout Motors has 212,000 vehicle reservations as $2 billion South Carolina plant nears completion

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Nvidia’s Jensen Huang to testify to Congress amid scandal, reports say, as CFO Colette Kress replaces him as interim CEO – follow live

Nvidia’s value slumps by $888bn this week as scandal over longtime CEO’s two affairs, including with a suspected Chinese spy, engulfs chip maker Too big – and too well-connected – to sack? Huang does not enjoy the supercharged voting rights that are par for the course elsewhere – his shareholding is a plain vanilla 3.6%. On the other hand, Nvidia’s board does not appear to have spent much time worrying about succession planning and “key person risk” or other standard concerns of corporate governance wonks outside the US. Continue reading...

Jensen Huang's Nvidia exit casts shadow over Wall Street’s $500 billion AI financing bet

Nvidia's leadership crisis threatens to spill over into the AI financing boom.

Nvidia stock pares morning losses after CEO Jensen Huang announces resignation

It's the end of an era for Nvidia , as its founder and longtime CEO, Jensen Huang, has resigned effective immediately. The face of one of the largest companies in the US and the growing AI boom, Huang's retirement comes after news broke of his two extramarital affairs, one of which was with a suspected Chinese spy. Nvidia has appointed its Chief Financial Officer, Colette Kress, to serve as interim CEO and Harvey C. Jones as Chair of the Board, but Huang's departure will leave a void that won't be easily filled, as he was heavily involved in Nvidia's day-to-day operations. The news is also expected to complicate things for Nvidia's stock price, as it has been in decline for over a month. The internet is already having a field day with Huang's departure, with hot takes and memes dominating the discourse right now. Huang's days of pulling on his signature leather jacket and hitting the sta