⛵ SpaceX–Tesla Merger Talks Advance
Plus: Jensen Huang Resigns, Cerebras Signs Microsoft
Good Morning, Early Adopters!
Nvidia needs a new CEO after 33 years. The job requirements are simple: run a multitrillion-dollar chip empire and look good in a leather jacket.
Big Tech at the Close | Thu, Nov 12 |
Company | Price | 1 Day | Mkt Cap | |
 | Amazon AMZN | $267.44 | +0.48% | 2.90T |
 | Apple AAPL | $354.88 | −0.14% | 5.17T |
 | Google GOOGL | $298.70 | +1.79% | 3.68T |
 | Meta META | $623.61 | −0.82% | 1.59T |
 | Microsoft MSFT | $523.00 | +0.36% | 3.88T |
 | NVIDIA NVDA | $166.19 | −4.34% | 3.95T |
 | SpaceX SPCX | $139.94 | +0.14% | 1.92T |
 | Tesla TSLA | $397.45 | +1.70% | 1.50T |
SpaceX–Tesla Merger Talks Advance
TL;DR: SpaceX and Tesla have made progress in merger talks, Bloomberg reported, citing people familiar with the discussions. A deal could be announced as early as December. The companies have yet to announce an agreement. Read more →
Huang Resigns, Kress Takes Over
TL;DR: Nvidia confirmed that Jensen Huang resigned as president, CEO and a director. CFO Colette Kress will serve as interim CEO while retaining her finance role. Harvey Jones became board chair, and the board is looking at internal and external candidates for a permanent CEO. Read more →
Cerebras Signs Microsoft
TL;DR: Cerebras reported record third-quarter GAAP revenue of $210.8 million and raised its full-year outlook. CEO Andrew Feldman said Cerebras signed a cloud deal with Microsoft and would share details next year. Shares rose more than 17% in extended trading, Reuters reported. Read more →
Huang-Linked Firms Back DeepSeek
TL;DR: Companies tied to Alice Huang took part in DeepSeek’s October funding round, which raised $15.8 billion, The Information reported. One person familiar with the matter said the firms sought closer ties with DeepSeek and offered to help supply Nvidia Blackwell chips, which are subject to U.S. export restrictions. Read more →
Gemini Hydrogen Edges Argon
TL;DR: Gemini 4 Hydrogen scored 51 on Artificial Analysis’s Intelligence Index at its default high reasoning setting, one point above Gemini 4 Argon. It reached 54 at its highest setting. Google charges $1.50 per million input tokens and $7.50 per million output tokens. Read more →
ElevenLabs Updates Scribe
TL;DR: ElevenLabs released Scribe v3 and Scribe v3 Live for speech recognition. The live model uses audio and conversational context to detect when a caller has finished speaking, so pauses in the middle of a sentence are less likely to trigger a response. The feature is available in the API. Read more →
Anthropic Hires Security Architect
TL;DR: Anthropic hired David LaBianca for its security engineering team, eFinancialCareers reported. He was a senior director of security engineering at Google and previously served as Goldman Sachs’s chief cybersecurity architect. Read more →
Fractile Raises $720M
TL;DR: British AI chip startup Fractile raised $720 million in a Series C at a $7 billion valuation, Reuters reported. The UK government’s Sovereign AI fund and the British Business Bank participated. Fractile is developing chips for AI inference. Read more →
Cisco Expects $9B in AI Sales
TL;DR: Cisco reported fiscal first-quarter revenue of $18.5 billion, up 24% from a year earlier. It raised its fiscal 2027 forecast for AI infrastructure revenue from hyperscalers to $9 billion, more than double the prior year’s total. Read more →
Ukraine Reports Starshield Limits
TL;DR: Ukraine says it is seeing fresh disruptions to Starshield, the SpaceX satellite service its military uses for reconnaissance and drone interception. President Volodymyr Zelenskyy said the service cuts out on drones flying above 100 mph. SpaceX denied changing the service. Read more →
UFORCE Raises $700M
TL;DR: Ukrainian-founded defense company UFORCE raised $700 million at a $6 billion valuation. The company says its NEMESIS drones have flown more than 300,000 combat missions. Its MAGURA uncrewed vessels are also used by Ukrainian forces. Read more →
Waymo Tests in Fairbanks
TL;DR: Waymo confirmed it is testing its sixth-generation driving system in Fairbanks, Alaska. The work includes manual data collection, supervised autonomous driving and structured tests to improve performance in snow and extreme cold. Read more →
Army Tests Robot Resupply
TL;DR: U.S. Army soldiers tested autonomous ground vehicles in Hawaii for possible use in jungle warfare. The trials explored whether wheeled robots could carry supplies and ammunition or evacuate wounded personnel. Read more →
Microsoft 365 Outage Hits Outlook
TL;DR: A Microsoft 365 outage disrupted access to Outlook, Teams and other services on Thursday. Microsoft said some servers had become unavailable, putting extra load on the remaining infrastructure. The company reported limited recovery after bringing some servers back online. Read more →
CyberArk Deal Shares Near $37B
TL;DR: Palo Alto Networks recorded $21.1 billion in purchase consideration when it closed the CyberArk acquisition in February. The roughly 112 million Palo Alto shares issued in the deal were worth $36.6 billion at the Nov. 10 closing price, nearly twice their value at closing. Read more →
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