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Finance

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Finance

Silicon Valley and Trump rally behind Nvidia CEO after his affair with alleged Chinese spy

Elon Musk and other finance moguls defend Jensen Huang after he admitted to the affair, as Trump says FBI ‘is looking into it’ Nvidia’s board needs to do some succession planning – sharpish Donald Trump, Elon Musk and prominent finance moguls have expressed their support for embattled Nvidia CEO Jensen Huang, as the head of the world’s most valuable chip company faces an internal investigation over a romantic relationship with an alleged Chinese spy. Trump said he has spoken to Huang on Monday as the scandal reverberated across Silicon Valley and the Nvidia CEO faced an uncertain future. Conti

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Finance

Jensen Huang’s image has been shattered. Could he be pushed out at Nvidia?

Huang built Nvidia as a family business but after the co-founder had an affair with an alleged Chinese spy, its board faces a difficult decision For more than 30 years, Jensen Huang has been the seemingly unshakable public face of Nvidia. He co-founded the company as a young engineer in 1993 and oversaw its growth into a multitrillion dollar chipmaker and bellwether of the AI industry at large. He’s also made it a family business. His children, Madison and Spencer, have taken leadership roles at the firm. While not a company executive, his wife, Lori Mills Huang, leads the family foundation wh

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Finance

The French fridge hacks were relatively unsophisticated. An AI-enabled attack would raise the stakes

‘Not particularly complex’ defrosting hack has been attributed to Iran, with presumption it is linked to others across Europe Iranian hackers like to send a message. In 2023 a state-backed group interrupted TV streaming services in the United Arab Emirates to broadcast a deepfake report on the war in Gaza. In the same year, hackers affiliated with Iran displayed the slogan “down with Israel” on the screens of water-control equipment made by an Israeli firm. Continue reading...

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Finance

Boeing to cut about 5% of its commercial plane workforce

Company will cut jobs through a mix of layoffs and attrition as it moderates the pace of ramping up jet production Boeing will cut about 5% of its commercial plane workforce as it moderates the pace of ramping up jet production, the company said on Monday. The company will eliminate the posts through a mix of layoffs and attrition because of a slower ramp-up to “provide our factories and supply chain partners additional time to achieve stability”, said a message to employees from Boeing commercial chief Stephanie Pope. Continue reading...

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Finance

The Guardian view on Jensen Huang’s affair: why did Trump ignore the warnings? | Editorial

The AI chip boss’s actions raise urgent questions about corporate influence, national security and the US president’s willingness to listen to intelligence warnings It could be the plot of a spy thriller. One of the most powerful figures in the AI revolution admitted to having an affair with a Chinese businesswomen said to have passed intelligence to Beijing. When Donald Trump was briefed about the Nvidia co-founder Jensen Huang’s liaisons with Alice Huang, he took no action. Perhaps he thought only marriage vows had been broken. Or perhaps Mr Trump was willing to overlook the conduct of a fri

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Finance

High fossil fuel prices spread inflation ‘like a cancer’, UN climate chief tells Cop31

Simon Stiell makes opening address at summit in Turkey, where talks are under way about speeding up shift to electrification A global fossil fuel price crisis is “spreading inflation like a cancer” around the planet, the UN’s climate chief, Simon Stiell, told the opening plenary of critical UN climate talks in Turkey. Stiell joined Cop31 hosts Turkey and Australia, which is leading the negotiations, in promoting renewable energy and a new electrification goal as an optimistic alternative to a planet still tied to oil, coal and gas. Continue reading...

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Finance

How to get the buzz back on Britain’s high streets | Letters

Readers respond to an article about the decline of town centres Sammy Gecsoyler’s report from Rotherham (‘It’s just vape shops, nail shops, charity shops’: can anything save the British high street?, 4 November) tells the story in its dates. One out-of-town retail park in Britain in 1981; 385 by 1996. Parkgate opened in 1987 and MPs warned that it would disembowel towns and villages. It did. Rotherham town centre is now 24% vacant, while retail park vacancy nationally sits at 4.8%. That is not a mystery. It is 40 years of planning policy. We have since gone one step further by making home deli

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Finance

Nvidia’s board needs to do some succession planning – sharpish | Nils Pratley

The chipmaker faces business risks and political scrutiny due to its over-reliance on founder and CEO Jensen Huang Why is Nvidia’s Jensen Huang at the centre of a US-China row? Too big – and too well-connected – to sack? One doesn’t have to be overly cynical to think Jensen Huang, the Nvidia boss, starts with one huge advantage as the chipmaker’s board starts its independent investigation into the alleged honeytrap spy scandal. The world of US big tech is not, to put it mildly, strong on checks and balances on a founder’s power. Huang does not enjoy the supercharged voting rights that are par

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Finance

Elon Musk and the tech bros banked on Trump and lost. Humbled, humiliated: what will they do next? | Jonathan Liew

Democrats won seats on anti-datacentre tickets and Musk wasted nearly half a billion dollars. Big tech may be losing its grip, but it won’t go quietly Photos That Precede Unfortunate Events: a couple of months back, Donald Trump hosted some of the world’s most powerful tech executives at the White House for a “Super Intelligence luncheon”, which by coincidence is also how my mum described her tuna sandwiches in a forlorn attempt to get me to eat them. Sitting either side of the president were Elon Musk, making a rare offline appearance in daylight hours, and Jensen Huang, the Nvidia chief exec

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