Jensen Huang, Chief Executive Officer of Nvidia Corp., attends the Taiwan Semiconductor Manufacturing Company (TSMC) Sports Day event on Saturday, November 8, 2025 in Hsinchu, Taiwan.
Yifei Lin | Bloomberg | 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
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
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year’s UK Autumn Budget are unlike any other, as so many different tax proposals have been floated, flagged, leaked and withdrawn in the weeks and months leading up to Wednesday’s statement.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
