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Next edition in 529 min Nov 11, 2026, 16:00-23:00 Lisbon
Premarket Alpha Midday Alpha Post-Market Alpha
Daily Alpha Post-Market Alpha by Buzzberg Research

What changed since midday

The NYT reported a second Huang relationship, with Nvidia VP Kimberly Powell, and the WSJ reported the board is preparing to oust him; Axios reports Lutnick repeatedly held up Nvidia China chip restrictions that Trump approved three times

Main narratives

day change
01

The NYT reported a second Huang relationship, with Nvidia VP Kimberly Powell, and the WSJ reported the board is preparing to oust him

Citing five former employees, The New York Times reported that Jensen Huang had a relationship with Kimberly Powell, Nvidia's VP of Healthcare, while the board investigates his separate affair with a woman US intelligence identified as a suspected Chinese spy. The WSJ reported the board is preparing to remove him and could meet as soon as today. After-hours losses reached 8.5%, and prediction markets priced an 80% chance he exits before July 2027.

NVDA -4.6%
02

Axios reports Lutnick repeatedly held up Nvidia China chip restrictions that Trump approved three times

Per Axios, Commerce Secretary Howard Lutnick repeatedly held up restrictions on Nvidia chip exports to China after Trump approved them three times; Musk, Rubio, Bessent and Hegseth backed tighter controls, and Lutnick warned the move will start a trade war with China. Axios says the restrictions are still not in place, and Commerce disputes parts of the account. Bessent asked why Megaspeed, accused of funneling US chips to China, is not on the Entity List.

NVDA -4.6%
03

Morgan Stanley expects midterm-driven local opposition to push part of the 2028 US data-center pipeline into 2029

Morgan Stanley's Ariana Salvatore says midterm results reinforced local political opposition to data centers over electricity costs, water use and local economic benefits. It concludes this is more likely to shift the timing and location of projects than reduce overall investment, with a portion of the 2028 US pipeline slipping into 2029 while hyperscaler spending stays broadly intact. It frames power availability as the tightening constraint, with a sizable projected electricity shortfall through 2028.

04

JPMorgan started Vertiv, Eaton and Johnson Controls at Neutral, arguing the AI capex cycle is moving into its later stages

JPMorgan analyst Julian Mitchell argues the AI capex cycle is moving into its later stages and that higher rates could accelerate that transition, per @jpinsights; the bank cut targets including GE Vernova to $1,000 from $1,035 without lowering earnings estimates. Earnings-call excerpts posted by TheValueist show Microchip's Steve Sanghi saying the second derivative on data center has to come down substantially, and Core Scientific's Adam Sullivan calling capital the throttle on new development.

VRT +4.7% · ETN +0.5% · GEV +0.6% · MCHP +0.2%
+1 more CORZ +8.5%

Themes of the session

?
Z-score shows how far this edition's mention count is above or below the theme's own average across 20 comparable earlier editions. +2.7σ means mentions are 2.7 standard deviations above that average — simply, the theme is being mentioned much more often than usual. It measures attention, not bullishness or expected return. Themes need at least 8 posts; gold begins at +2σ, and σ is hidden when history is too thin.
AI Compute +2.9σ
NVDA -4.6% · AMD +12.1% · CBRS +7.0%
327 posts 120 voices base 90.5
NeoCloud +2.0σ
CRWV +17.6% · NBIS +12.0% · IREN +1.1%
+2 more FSLY — · BRUN —
112 posts 60 voices base 52.6
Equity Indexes +1.5σ
SPY — · QQQ +1.4% · SPX —
+15 more NQ — · NASDAQ — · ES=F — · RSP — · IWM — · SCHD — · COMPQ — · MNQ — · COMP — · VOO — · ES — · TSX — · SP500 — · VT — · EWY —
137 posts 62 voices base 72.6
Crypto Miners +1.3σ
CIFR +4.3% · HUT +5.4% · CORZ +8.5%
10 posts 8 voices base 5.4
Thematic ETFs +1.1σ
SMH +2.5% · SOXX +4.3% · XLP +0.8%
+21 more SOXL — · AIQ — · IBIT — · AMDL — · TQQQ — · SKYY — · ITA — · XLF — · XLY — · XLU — · KBE — · MAGS — · PAVE — · DTCR — · DBMF — · NVDL — · ARKG — · XBI — · AGNG — · XLE — · XLV —
54 posts 41 voices base 39.6
Technology +1.0σ
AI-SECTOR —
9 posts 9 voices base 6.6
Payments & Fintech +0.8σ
SOFI -1.3% · XYZ +0.1% · TOST -1.6%
+3 more PYPL — · FIGR — · OWLS —
10 posts 8 voices base 6.7
GLP-1 / Obesity +0.7σ
LLY +1.0% · HIMS +6.3%
11 posts 8 voices base 5.5
Pharma & Biotech +0.5σ
REGN +5.2% · BIIB +0.1% · SYRE +3.2%
+16 more TGTX — · XERS — · AMGN — · PFE — · MRNA — · IAM — · ERAS — · RVMD — · SLS — · RXRX — · CAPR — · ETON — · VRTX — · ABBV — · MANE — · NBIX —
22 posts 10 voices base 16.0
AI ASIC +0.4σ
AVGO +6.5% · MRVL +6.9% · QCOM -0.5%
+4 more ARM — · NA.TO — · SNPS — · MCHP +0.2%
26 posts 19 voices base 20.4
Memory & Storage +0.3σ
MU +9.8% · SNDK +11.2% · STX —
+4 more SKHY — · 3006.TW — · 000660.KS — · 005930.KS —
36 posts 23 voices base 31.6
Software & SaaS +0.3σ
ZETA +6.0% · PLTR +0.1% · DJCO -0.9%
+13 more U — · APPN — · DOX — · 6741.TWO +2.0% · WIX — · AMPL — · ADBE — · TEAM — · SAAS — · DDOG — · DOCU — · VEEV — · MGNI —
26 posts 21 voices base 21.4
Retail & Mobility +0.3σ
GME -1.5% · BABA -1.6% · EBAY -0.4%
+13 more ETD — · CVNA — · SHOP — · M — · ETSY — · AZO — · MELI — · SN — · ATZ — · AAP — · ORLY — · HD — · LOW —
17 posts 13 voices base 14.9
Streaming +0.3σ
SPOT +0.4% · NFLX +1.0% · IHRT +14.4%
+2 more CMCSA — · CURI —
10 posts 7 voices base 7.3
Positioning Market Radar →

Buying / adding

2 positions · 2 voices

Selective / waiting

1 positions · 1 voices

S&P 500

Morgan Stanley's Mike Wilson sees a possible further S&P 500 decline toward 7,100-7,200 and names AI-related financing supply, the midterms and tightening liquidity as clearing events that could create a better buying setup.

Morgan Stanley
The adjustment that began in June is already progressing considerably beneath the surface. However, I believe that the S&P500 index, which is composed of high-quality stocks, may still have parts that have not fully adjusted. Until that runs its course, I do not think we can say the adjustment is complete. What we really should ask is how far things must deteriorate before the situation improves. Our firm has positioned this adjustment as a transition to a typical mid-cycle. The change in the earnings forecast revision rate peaked exactly as expected, about one year after the bottoming out of the economic cycle. And the market showed the same kind of reaction as always. Operating leverage and financialtranslated from Japanese

Fading / not buying

2 positions · 2 voices
YouTube
48 videos · 22h 57m Seaport's Jay Goldberg called Nvidia unusually dependent on Huang, while Sixth Street's Alan Waxman and Morgan Stanley flagged AI financing and data-center siting risks. Open the desk →
X
2666 posts X relays carried reports that Nvidia's board is preparing to oust Huang and that Lutnick held up China chip curbs, while Serenity defended AAOI and BofA client data showed institutions buying last week's dip. Open the desk →
Reddit
411 threads Reddit posters argued Nvidia's scandal could leave it distracted while AMD pushes ahead, flagged data-center permitting risk and shared value cases on Macy's, 91APP and CAVA. Open the desk →