Neocloud provider CoreWeave, Inc. (CRWV.US), whose second-largest shareholder is NVIDIA (NVDA.US), is preparing a multi-billion USD loan backed by chips to test market appetite for AI financing, Financial Times reported. CoreWeave is relying on asset-backed debt and customer prepayments to fund its continued expansion.

The upcoming loan will finance the purchase of NVIDIA chips and other computing equipment to fulfill a contract with an unnamed investment-grade customer. The company said the loan is expected to carry an interest cost of about 7-7.5%, less than half the yield on CoreWeave's unsecured debt. A company executive said the financing would raise several billion USD.

CoreWeave CEO Michael Intrator told analysts on Tuesday that chip-backed loans can cover 70-100% of the cost of financed equipment, contingent on the customer. Looking ahead, the company will not use the unsecured debt market for business financing at current yields, nor does it need to do so.
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Alphabet Inc. (GOOGL.US) plans to issue HKD and SGD bonds for the first time to expand its participation in Asia's debt market, Reuters, citing bond issuance documents, reported.

Alphabet has appointed HSBC HOLDINGS (00005.HK) and JPMorgan (JPM.US) as joint global coordinators. If the bonds are successfully issued, they are expected to receive Moody's Aa2 and S&P's AA+ ratings, in line with Alphabet's issuer ratings.

The HKD tranche may include 2-year, 5-year and 10-year senior unsecured fixed-rate notes, subject to market conditions.
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Citi issued a research report on NVIDIA (NVDA.US), which will announce its quarterly results for the period ended Oct on 17 Nov. The broker forecast results and guidance to deliver a modest EPS beat, with stronger sales but lower gross margin due to rising prices of HBM. The broker expected NVIDIA to reiterate its previous outlook for 70% YoY revenue growth in FY2028 (CY2027).

Investors are focused on 2028 order visibility and backlog conversion, particularly among neocloud customers, supply constraints, Rubin ramp-up, and the investigation involving CEO Jensen Huang.

Citi believed investor focus has shifted from AI demand to AI deployment risks. Demand for 2027 appears largely locked in, while the key risk lies in 2028 order visibility and backlog conversion. The independent CEO review also casts a shadow, with long-term leadership stability risk becoming one of investors' primary concerns.

The broker maintained its earnings forecasts unchanged but axed its TP by 10% to USD285 to reflect lower market multiples and long-term CEO sustainability risks. It maintained the Buy rating.
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NVIDIA (NVDA.US) launched an independent review over concerns related to CEO Jensen Huang's alleged affair, adding uncertainty at governance and policy levels, BofA Securities published a research report stating. The board said there is no reason to believe company secrets or national security have been compromised.

In BofA Securities’ opinon, the investment focus is whether the incident remains an isolated company issue or triggers restrictions and disrupts the broader AI infrastructure ecosystem. Allegations should not be equated with confirmed business damage. The broker maintained its Buy rating and USD350 target price on NVIDIA.

The broker outlined three scenarios. First, the matter is contained, with leadership continuity being maintained and no major findings emerging, allowing fundamentals to regain focus. Second, uncertainty persists, with pressure on valuation before earnings are affected. Third, the situation escalates, with adverse findings, leadership changes or tighter restrictions requiring earnings reassessment. The broker stressed that the key is to distinguish headline risk from substantive changes in customer access, orders and execution, rather than assuming the issue can be resolved swiftly.

If investment in the new ecosystem turns more cautious, financing-dependent AI projects could slacken, representing a second transmission risk that may affect demand for memory, networking and equipment, although this remains a scenario rather than an announced response.

If NVIDIA becomes distracted or faces greater scrutiny, computing suppliers such as Advanced Micro Devices, Inc. (AMD.US), Broadcom Inc. (AVGO.US) and Marvell Technology, Inc. (MRVL.US) could potentially gain more business. However, if scrutiny broadens, any US supplier selling to China, including those involved in computing, networking, semiconductor equipment and electronic design automation, could face greater volatility.
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Less than a day after Anthropic disclosed plans to go public next week at a valuation of USD1.4 trillion, the company received strong investor demand for the IPO and is evaluating raising the offer price to lift the target valuation to USD1.5 trillion or above, Financial Times, citing sources, reported.

Prior to this, Anthropic had announced an IPO price range of USD70-78 per share, with plans to issue 820 million shares to raise USD64.35 billion. The company is anticipated to price the offering next Wednesday (18th) and list next Thursday (19th).

Anthropic is reportedly expected to raise the share price to above USD78. The latest pricing would also increase the total IPO fundraising amount to more than USD100 billion. Sources said Anthropic's current priority is to raise as much capital as possible through the listing to support massive spending on computing power, rather than maximizing the company's valuation.
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NVIDIA (NVDA.US)'s board said it has appointed former Acting U.S. Attorney for the Southern District of New York Joon H. Kim and his law firm Wachtell, Lipton, Rosen & Katz to conduct a comprehensive and independent investigation into CEO Jensen Huang's extramarital affair incident, in order to determine whether company confidential information or national security had been compromised.

Investors are concerned that the investigation and scandal could lead to Huang leaving the company. NVIDIA's share price plunged 5.5% overnight.
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NVIDIA (NVDA.US) CEO Jensen Huang returned on Monday to the company's headquarters in Santa Clara, California, and held a regular morning meeting with senior management. Huang disclosed his extramarital affair to employees on Sunday.

Huang reportedly addressed his infidelity at the start of a closed-door meeting and apologized to employees. Sources said he did not take questions and quickly shifted the discussion to business operations and the day's main agenda.

With the company set to announce quarterly results in just one week, Huang also returned to the office on Tuesday for meetings.

NVIDIA did not immediately respond to requests for comment.
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Markets are focusing on the upcoming US October inflation data. Federal Reserve Chair Christopher Waller said in a speech in London that he supports a 25 bps rate hike in December, and is open to a 50 bps hike if inflation data comes in worse than expected. CME data showed a 95.6% probability of a 25 bps rate hike by the US in December.

Futures for the three major US stock indices were mixed. DJIA futures rose 120 points or 0.2% to 52,618. S&P 500 futures and Nasdaq futures fell 0.04% and 0.39%, respectively. US President Donald Trump said the conflict with Iran would end fairly quickly, sending international oil prices lower. Brent oil futures slid 2.1% to USD90.67 per barrel, having briefly dropped below the USD90 mark intraday for the first time since August.

Major European bourses broadly advanced in early Tuesday trading. The STOXX Europe 600 added 0.7% to 661.37. The UK's FTSE 100 gained 42 points or 0.4% to 10,825. France's CAC hiked 0.95%, while Germany's DAX climbed 1.05%. Italy's FTSE MIB gained 1.4%, while Spain's IBEX 35 advanced 1.2%.
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The HSI closed at 24,557, up 108 points or 0.44%, with full-day turnover at HKD178.175 billion. The HSCEI closed at 8,265, up 5 points or 0.07%. The HSTECH closed at 4,084, up 43 points or 1.08%. US bourse was unfazed overnight (9th) by news that NVIDIA (NVDA.US) CEO Jensen Huang was under investigation. Coupled with a retreat in international oil prices, the DJIA closed up 1,104 points, while the Nasdaq also rallied 2.74%.

Leading techs diverged. XIAOMI-W (01810.HK) rose 1.66% after Xiaomi Auto ranked first in sales among brands priced above RMB200,000 in October; BIDU-W (09888.HK) gained 1.53%; MEITUAN-W (03690.HK) added 0.47%; while TENCENT (00700.HK) eroded 0.14%.

Banking stocks steered the gains after JPMorgan said market concerns over NIM pressure caused by deposit competition may be overdone. HSBC HOLDINGS (00005.HK) surged 4.37%; STANCHART (02888.HK) swelled 5.1%; while BOC HONG KONG (02388.HK) also hiked 1.38%.

Optical and chip stocks fared strongly. SUNNY OPTICAL (02382.HK) closed up 5.79%, making it the best-performing blue chip of the day; HUA HONG GRACE (01347.HK) mushroomed 3.76%; BYD ELECTRONIC (00285.HK) ballooned 3.76%; and SMIC (00981.HK) elevated 2.61%.

Among AI large-model stocks, MINIMAX-W (00100.HK) advanced 10.11%, while Z.AI (02513.HK) surged 11.11%.
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US bourse was unfazed overnight (9th) by news that NVIDIA (NVDA.US) CEO Jensen Huang was under investigation. Coupled with a pullback in international oil prices, the DJIA closed up 1,104 points, while the Nasdaq also rallied 2.74%. Hong Kong stocks opened 172 points higher this morning (10th) before trimming gains. The HSI closed midday at 24,518, up 69 points or 0.29%, with main board turnover at HKD92.984 billion. The HSCEI stood at 8,263, up 2 points or 0.03%, while the HSTECH rose 28 points or 0.7% to 4,069.

Major techs were mixed. BABA-W (09988.HK) posted the largest decline, slipping 3.44% by midday. XIAOMI-W (01810.HK) dropped 1.2%; BIDU-W (09888.HK) rose 1.4%; MEITUAN-W (03690.HK) added 0.47%; and TENCENT (00700.HK) edged down 0.05%.

The PHLX Semiconductor Sector Index rebounded 6.85%, lifting Hong Kong-listed chip stocks. SMIC (00981.HK) jumped up 3.91%, making it the best-performing blue chip by midday. HUA HONG GRACE (01347.HK) mounted 2.92%; GIGADEVICE (03986.HK) soared 3.13%; MONTAGE TECH (06809.HK) surged 6.34%; and ILUVATAR COREX (09903.HK) climbed 9.06%.

Among AI large-model stocks, MINIMAX-W (00100.HK) skyrocketed 7.06%, while Z.AI (02513.HK) rebounded sharply by 11.89%.

Among selected blue chips, HSBC HOLDINGS (00005.HK) elevated 3.06%. WUXI APPTEC (02359.HK) was removed from the "Chinese military company (CMC)" list under US Section 1260H. CLSA said geopolitical risks are expected to ease, and WUXI APPTEC (02359.HK) hiked 1.11%. LENOVO GROUP (00992.HK) soared 2.9%; CMOC (03993.HK) swelled 3.8%; and CATL (03750.HK) advanced 2.38%.
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