Jensen Huang is interviewed by the media at the 2025 Queen Elizabeth Engineering Awards reception at St. James’s Palace on November 5, 2025 in London, England.
Mok Yui | Getty Images Entertainment | Getty Images
The crowned head lies in anxiety.
artificial intelligence emperor stock Nvidia It fell 2.6% on Tuesday as signs of unrest continued to spread across the kingdom.
Nvidia has spent the past month battling concerns about its high valuation and arguments from The Big Short investor Michael Varley that the company may be overestimating the longevity of Nvidia’s chips. He argued that its accounting choices were inflating profits.
The pressure increased last week as a potential challenger to the title. google announced the release of a new AI model, Gemini 3, on November 18th. So far so good, considering NVIDIA is not in the business of designing large language models with its own AI chips.
And on Monday in the United States, MetaThe potential kingmaker appears to be signaling that it is considering not only leasing Google’s custom AI chips, but also using them in its own data centers. It seems like Nvidia felt the need to address some of these rumors.
The chipmaker said on social media platform X that its technology is more powerful and versatile than other types of AI chips, including so-called ASIC chips such as Google’s TPU. Separately, NVIDIA issued a private memo to Wall Street disputing Berry’s claims.
Whether in politics or semiconductors, power requires a delicate balance.
Remaining silent can envelop those in power in a cloak of untouchability, demonstrating confidence in their authority but also aloofness. Designing to cope with anxiety can alleviate uncertainty, but paradoxically, it can also signal anxiety.
For now, the crown is Nvidia’s to wear, and so is its weight.
What you need to know today
The UK’s Autumn Budget 2025 has been announced. The UK is preparing for a “smorgasbord” of tax increases to be announced on Wednesday. You can follow CNBC’s budget coverage throughout the day on our live blog here.
US stocks rose on Tuesday. The major indexes recorded their third consecutive victory, erasing their previous intraday losses. Asia-Pacific markets rose on Wednesday. Foxconn stock rose more than 3% after Foxconn received approval for the contract amendment.
Meta is considering using Google’s AI chips. According to a Monday report in the Information newspaper. Nvidia wrote to X on Tuesday that its chips are “one generation ahead of the industry.” The chipmaker also sent a memo to analysts regarding the bubble allegations.
Taiwan’s president has pledged to spend an additional $40 billion on defense. Taiwanese leader Lai Ching-de said on Wednesday that the autonomous island would improve its self-defense capabilities in preparation for an “unprecedented military buildup” by China.
(PRO) Highlights of the UK budget revealed. Strategists told CNBC they will be monitoring interest rates, economic growth, the budget’s impact on the British pound and one of British Finance Minister Rachel Reeves’ “rabbits out of a hat.”
And finally…
Skyscrapers and commercial buildings on the skyline of the city of London, England, are illuminated on Tuesday, November 18, 2025. British business leaders have called on Chancellor of the Exchequer Rachel Reeves to ease energy costs and avoid an increase in the tax burden for British businesses as she prepares this year’s budget.
Bloomberg | Bloomberg | Getty Images
The UK’s autumn budget is approaching: we explain what this means for your money
The preparations for this year’s UK Autumn Budget are unlike any other, as so many different tax proposals have been floated, flagged, leaked and withdrawn in the weeks and months leading up to Wednesday’s statement.
It’s also becoming harder to see what Treasury Secretary Rachel Reeves will actually get when she finally releases her spending and tax plans for next year.
— Holly Ellyatt
