U.S. Department of Justice launches investigation into NVIDIA over antitrust issues and other related matters.

The U.S. Federal Reserve on Thursday released the revised tentative meeting schedule for the Federal Open Market Committee (FOMC) in 2027. The year will hold 8 scheduled meetings, respectively on Jan. 26–27, Mar. 16–17, Apr. 27–28, Jun. 8–9, Jul. 27–28, Sep. 14–15, Oct. 26–27, and Nov. 16–17. Notably, the Oct. 26–27 meeting will focus on a broad range of monetary policy strategy issues, with no interest rate decision announced on the second day as is customary. The first FOMC meeting of 2028 is tentatively scheduled for Jan. 25–26.

According to Reuters, citing two sources familiar with the matter, senior White House officials are discussing whether to ask Commerce Secretary Howard Lutnick to step down. Lutnick has faced mounting criticism recently, with his job performance and related regulatory controversies prompting questions from U.S. lawmakers. The criticism emerged before NVIDIA CEO Jensen Huang announced his resignation. A White House official stated that Trump still has full trust in Lutnick and his ability to perform his duties. The White House has not yet issued an official response regarding Lutnick's future.

According to Reuters, citing two sources familiar with the matter, Jensen Huang, who has stepped down as CEO of NVIDIA (NVDA.O), also had an intimate relationship with another employee. The identity of the employee involved remains undisclosed. Earlier, extramarital affairs between Huang and two women were successively exposed. NVIDIA, Jensen Huang, and board representatives have not responded to requests for comment.

According to data from the BIT Stock Platform, NVIDIA (NVDA.O)’s share price has plunged recently, with its forward price-to-earnings ratio falling to around 12 times, the lowest level since 2012. After Jensen Huang’s resignation, NVIDIA’s stock dropped more than 4% on Thursday, down roughly 11% for the week, and over 30% from its all-time high set on October 6. Beyond the management shake-up, the market also worries that AI data center construction may slow. Colette Kress, NVIDIA’s chief financial officer, is currently interim CEO, and the company is searching for a permanent successor. Analysts still hold expectations of strong profit growth for NVIDIA, projecting chip demand will continue to outpace supply. The market forecasts NVIDIA’s October-quarter revenue will rise 92% year-on-year, with net profit exceeding $60 billion, up 89% year-on-year. NVIDIA is scheduled to release its earnings report next Tuesday, and investors will closely watch Kress’s comments on the company’s future performance outlook—her guidance is likely to draw more attention than the earnings release itself.

Benefiting from AI-driven semiconductor demand, Applied Materials (AMAT.O) delivered strong growth in both profit and revenue for its fourth fiscal quarter. The company reported a net profit of $2.72 billion, or $3.40 per share, compared with $1.9 billion, or $2.38 per share, in the same period last year. Excluding certain one-time items, adjusted earnings per share reached $4.16, surpassing analysts’ prior consensus estimate of $4.06. Revenue jumped 53% to $10.41 billion, exceeding analysts’ forecast of $10.3 billion. Gary Dickerson, CEO of Applied Materials, noted that the company’s semiconductor systems business is expected to grow by more than 40% this year. In the latest quarter, this segment’s sales soared 64% to nearly $8 billion. For the first quarter of the new fiscal year, Applied Materials projects revenue of $11.1 billion, with a fluctuation range of plus or minus $500 million; it forecasts adjusted earnings per share of $4.35, with a fluctuation range of plus or minus 20 cents.

According to Bloomberg, sources familiar with the matter have disclosed that subscription orders for Anthropic PBC’s initial public offering (IPO) are roughly 6 times the number of shares available for issuance. As market interest in what could become the largest IPO in history grows, investor demand for shares has continued to climb. Documents show that Anthropic, the developer of the Claude AI model, and its co-founders plan to raise up to $64.4 billion via the IPO, plus an additional $26 billion through private placements. The combined size of the two financing components will exceed SpaceX’s IPO, making it the largest public offering in history.