Latest update: Nvidia CEO Jensen Huang resigned Thursday morning. Read live coverage on CNBC.
Hello, this is Leonie Kidd from today’s Morning Squawk.
No news this Thursday is not good news for Nvidia.
Stocks are again under pressure as investors await the outcome of the Crisis Management Committee meeting…
What’s happening now: We’re in trouble.
Nvidia’s board met overnight to decide whether to fire CEO Jensen Huang. So far, the results of these talks have not been announced.
Investors were on edge, with the stock dropping about 5% in pre-market trading.
Some of the latest developments are listed below.
Second affair: The New York Times reported that Huang had another affair with Kimberly Powell, NVIDIA’s vice president of healthcare. Preservation of documents: The office of Sen. Elizabeth Warren (D-Mass.) has asked the Trump administration to preserve all documents related to the export of Nvidia’s advanced AI chips to China. Musk’s comment: Elon Musk said it would be an “honor” to hire Jensen Huang, in response to an X post recommending hiring him.
Market pressure is mounting, with several analysts becoming more bearish on the stock.
Bernstein: Lowers price target from $400 to $200, lowering market performance. Yorkville Ives: NVIDIA with Jensen as CEO at $300 a share, $225 without. Baird: Lowered price target from $500 to $200 and downgraded to Neutral. Morgan Stanley: Removes stocks from ‘Top Picks’ list. Wells Fargo: Reduced to $300 from $315 and maintained overweight. Citi: $315 to $285, maintains buy rating.
Political pressure is also increasing.
What’s next: “Squawk Box” will speak with Republican Sen. Kevin Cramer of North Dakota, who called on Jensen Huang to resign. Watch the interview at 7:30 a.m. ET.
Nvidia co-founder, president and CEO Jensen Huang gestures during a press conference on October 13, 2026 in Paris.
Joel Saget | AFP | Getty Images
Big mover: Neocloud on the horizon
Nasdaq futures are under pressure, underperforming the Dow and S&P.
Nvidia is holding back the technology sector, but AMD and broadcom They are making a profit on their early trades.
Investors may be hoping for a CoreWeave effect from Nebius after the former neo-cloud company surged more than 24% during trading Wednesday, supporting the Nasdaq.
While Neocloud stock is up in pre-market trading, CoreWeave is down 7% after yesterday’s big gains.
Analysis: CNBC’s Jason Gewirtz describes Nevius as a battleground stock, currently down 50% from its June highs even after Wednesday’s rally. The settlement of accounts was decided before the bell this morning.
Sectoromics: Luxury Wrap
burberry i’m back. The British luxury retailer topped the London market with its shares up 6%.
This comes after Burberry’s sales showed an unexpected turnaround in the second quarter, accelerating the group’s recovery.
Why it matters: Burberry returned to the FTSE 100 in 2025 after dropping out of London’s main index. By reviewing our strategy, we were able to maintain our position as an excellent company. China comeback: Burberry cited its strength in China despite a difficult environment and said it could support its luxury brand peers.
CNBC brings you more beauty news in an exclusive interview with Estée Lauder CEO Stéphane de La Faverie, who joins “Squawk on the Street.”
People walk in front of the Burberry store on East 57th Street during Memorial Day weekend in New York City, May 25, 2025.
Craig T. Fluchtman | Getty Images Entertainment | Getty Images
Midterm Exam: Mississippi State Turns Blue
The Associated Press reported Wednesday evening that Democrat Scott Colom defeated incumbent Republican Sen. Cindy Hyde-Smith in Mississippi’s U.S. Senate race.
He will be the first black senator from Mississippi since the post-Civil War Reconstruction era.
Senate: Democrats currently hold a majority of at least 55 seats in the Senate, flipping at least eight seats from Republicans. Data Center View: Colom has pledged to push for a moratorium on new data center construction until both companies agree to pay their own electricity and water bills.
District Attorney and Democratic Senate candidate Scott Colom speaks during a press conference at the Hinds County Sheriff’s Office on November 10, 2026 in Jackson, Mississippi.
Brandon Bell | Getty Images
And finally…
The world’s ultra-high-net-worth individuals are flocking to alternative investments.
The world’s wealthiest investors are increasingly pouring money beyond stocks and bonds into hedge funds, private equity and infrastructure assets, as concerns about market volatility and stubborn inflation prompt diversification.
From Asian billionaires to global family offices, alternative investments are becoming a bigger part of portfolios that were once dominated by traditional assets, industry watchers say.
daily dividend
—NBC’s Jason Gewirtz, April Roach, Dan Mangan and Li Yingshan contributed to this report.
Jack Summers edited this version.
