NVIDIA

London-based Nscale's amended IPO prospectus, filed November 12, says it placed large GPU and equipment orders to manage price, allocation and delay-penalty risk under its up to $44.6 billion Anthropic agreements, that some of those commitments cannot be deferred, reduced or cancelled, and that it will need additional financing to meet forecast 2027 obligations. Preliminary, unaudited estimates show a $1.69 billion net loss on $307.5 million of revenue for the nine months to September 30 and total debt of about $5.5 billion, up from $79 million at the end of 2025. No offering size or price range has been set.

A Reuters review of more than 150 Chinese procurement notices, investment plans, contracts and company disclosures identified computing projects with a combined reported value above 23 billion yuan ($3.2 billion) built or planned around Nvidia's restricted H100, H200 and H800 processors, from a planned 6.2 billion yuan centre in Fujian to clusters already running in Wuxi. The total covers buildings, power and other infrastructure, not chip spending alone, and includes plans that may never be completed. Reuters does not establish how the hardware reached Chinese users, and the projects have not been linked to Megaspeed or the allegations around Jensen Huang.

Will DePue of Unemployment Labs published an analysis on November 12 arguing that six models released since April 2026 by DeepSeek, Moonshot AI, MiniMax and Ant Group were initialized on Nvidia Blackwell-class GPUs, which need a U.S. licence for export to China. The method reads leftover starting values in the published weights and matches them to each chip's processor-core layout; earlier models from the same labs read as Hopper. DePue confirmed two matches on physical Blackwell hardware. He says the evidence shows access to the chips, not where they were located, how access was obtained, or whether export controls were violated.

Agile Robots, a Munich maker of industrial robot arms, hands, mobile and humanoid robots and the AI models that run them, said on November 12 it closed a $500 million Series F at an $8.5 billion valuation. SoftBank Group led, with Nvidia, Hitachi Group and T.Capital among other investors, taking total funding to $2 billion. The company says it will use the money to expand in the United States and add production capacity, including in Germany. Quartz, citing Bloomberg, reports that about $800 million had been under discussion in June.

Chinese AI companies are trying to rent Nvidia-powered computing capacity at data centres outside China, three people familiar with the matter told Reuters on November 12. They fear the allegations around former Nvidia chief executive Jensen Huang could add momentum to the Remote Access Security Act, a House-passed bill that would let the Commerce Department regulate cloud access to restricted chips. A major Chinese cloud provider has discussed locking in overseas capacity and smaller labs are approaching Southeast Asian rental providers, the people said. The companies were not named.

Runway released Praxis-1 on November 11 with open weights under Apache 2.0, including inference and fine-tuning code. The 27-billion-parameter model predicts video and robot actions together and scores 46.2% success on Nvidia's RoboLab-120 simulation benchmark, first among world action models and ahead of FLUX 3 Action (42.9%). On the leaderboard's overall table it ranks fifth, behind systems including an agentic language-model policy at 86.0%. Runway says it adapts to new robots with light fine-tuning.

Northwestern Polytechnical University, a Chinese defence-linked university on the US Entity List since 2001, bought two Nvidia H200 chips in October for 874,700 yuan from a domestic supplier, according to procurement records reported by Reuters on November 11. Its cybersecurity school also rented access to servers with H200 chips this year. A Reuters review of 26 records found other Chinese universities buying or renting restricted Nvidia chips through local suppliers. Nvidia, the university and the US Commerce Department did not respond to Reuters.

AI training-data company Mercor said on November 10 it raised a $750 million Series D at a $20 billion valuation, from investors including Benchmark, General Catalyst, Apollo-managed funds, Nvidia and Salesforce. The round included an employee tender of undisclosed size. CEO Brendan Foody says the money will expand evaluation and post-training work for enterprises that want to fine-tune open models on their own workflows, a bet that companies will train their own models rather than only rent frontier ones.

Updated Nov. 13: Anthropic's IPO has drawn about six times as many orders as shares available, Bloomberg News reported on November 12, citing people familiar with the matter, and bankers told prospective investors existing backers will be prioritised. Anthropic will price the offering on November 18 and start trading as ANT on November 19, Yahoo Finance and Reuters report, two days after Nvidia's first results since Jensen Huang resigned. Earlier: Anthropic launched the roadshow on November 10, offering 825 million Class A shares at $70 to $78, about $1.4 trillion fully diluted at the top, with seven chip and cloud suppliers buying $26 billion of stock at the IPO price; its roadshow video says its Mythos model ported Claude to AMD chips in three days.

Nvidia introduced GR00T 2 at the Conference on Robot Learning on November 9, an open world action model built on its Cosmos models and trained on robot and human data including 100,000 hours of human egocentric video. Nvidia says it completed 40 of 50 tasks at least once with no task-specific demonstrations and averaged 71% success with one demonstration per task, 95% with five. Foxconn and Siemens are testing it. The figures are Nvidia's own and use different setups from other labs' robotics claims.

The New York Times reported on November 7 that the Commerce Department approved New Matrix, a 17-month-old Chinese company whose listed Beijing address is an empty office, to assemble Nvidia H200 chips into AI servers, and that corporate records tie two of its owners to Wise Road, a private equity firm entity-listed in 2024. It is the second approved H200 handler the Times found with no visible presence. Commerce's Bureau of Industry and Security says it reviews all applications for national security risks; Nvidia says China strictly limits H200 imports. These are reporting findings, not a government determination.

About 600,000 Nvidia H200 AI chips are stored in Hong Kong waiting to enter mainland China because Beijing has not approved large-scale imports, two people told Reuters. Several big Chinese internet companies have each received about 10,000, and an eight-card H200 server sold for more than 6 million yuan in October, about three times its price a year earlier, one person said.

Revolut says it cut its AI coding inference costs by roughly 90% in under a year by making self-hosted Z.ai GLM models, now GLM-5.3 on 56 Nvidia B200 GPUs, the default for about 2,000 engineers instead of relying mainly on services like Claude Code, The Register reported. Its infrastructure lead said cheap tokens led engineers to hand debugging and ticket work to AI. Commercial models remain for vision and other exceptions.

Fal, which runs image, video and audio AI models for developers, has raised $1.3 billion at a $16 billion valuation, double its April valuation, Bloomberg reported. Existing investor Bessemer led the round, with Nvidia, T. Rowe Price, Sound Ventures and HOF Capital taking part. Fal hit $800 million in annualized revenue earlier this year, according to a person familiar with the matter, and its CEO says demand outran capacity this summer.

Nvidia's Vera Rubin NVL72 page now lists 19.2 TB/s of HBM4 bandwidth and 3 TB/s of NVLink per GPU, down from the 22 TB/s and 3.6 TB/s it advertised earlier. Rack totals and the HGX Rubin NVL8 figures fell too. Nvidia told Wccftech the earlier numbers were preliminary architectural targets and the new ones reflect what the system sustains in volume production, and that published third-party benchmarks already used production specs.

Meta and Shanghai-based Fourier built a humanoid prototype known inside Meta as Max in about three months, The Information reported on October 31, and began work on Max 2 in September. Max reportedly stands about 1.5 metres tall, weighs about 48 kg and runs on Nvidia's Jetson Thor. Meta told the outlet the work is internal research and it has no plans to sell the units.

The Nasdaq 100 fell 3.5% on October 30, Reuters reported, and NBC News said it was the index's worst day since mid-June and that tech stocks lost more than $1 trillion in value. The heaviest losses were among AI suppliers rather than the hyperscalers: Intel closed down 28.6%, AP reported; the Philadelphia semiconductor index fell 7.2%, according to NBC News; and AMD lost 10.9% and SanDisk 13%, while Microsoft, Meta, Amazon and Alphabet fell 1% to 2%, Reuters reported. Reddit fell 29%.

Cohere announced the initial close of a Series E round targeting up to C$7 billion at a C$35.7 billion valuation, led by Germany's Schwarz Group. Canada's government will invest up to C$1.6 billion in stages, tied to commitments that Cohere create 1,000 Canadian jobs, spend C$1.7 billion on Canadian compute by 2030 and keep its headquarters in Canada. Cohere has not said how much is committed so far.

Updated Nov. 13 (evening): Senate Banking Committee chairman Tim Scott asked former Nvidia CEO Jensen Huang to testify on December 3 and Commerce Secretary Howard Lutnick on December 10, warning of subpoenas if they decline. Treasury Secretary Scott Bessent told CNBC that Treasury, War, USTR and State had backed adding Megaspeed to the entity list for months but that Commerce has the pen, after Reuters reported the White House was discussing Lutnick's future. House chairman Brian Mast says Huang agreed to testify before Thanksgiving. Attorney General Todd Blanche says the Justice Department has not concluded whether Alice Huang was a spy and the FBI is investigating. Earlier: Huang resigned on November 12 with CFO Colette Kress as interim CEO, and Democrats opened a records inquiry. The spy allegations remain unproven; China denies them.

NVIDIA released Nemotron 3.5 Transcribe on October 28, an open-weight 30B-parameter model with about 4B active that transcribes 40 languages, translates 31 and attributes speakers in 13, for recordings up to an hour. It also released the Granary v2 speech dataset. NVIDIA's leaderboard claims, including first among open models on Open ASR English, are its own; the model does not support streaming.

South Korean inference-chip maker FuriosaAI raised a $620 million Series D at a $2.9 billion post-money valuation, with Korea's National Growth Fund committing about $280 million. The company says it will produce 20,000 RNGD cards this year and has secured capacity to more than double that in 2027. Performance-per-watt claims against Nvidia hardware are the company's own.

Updated Oct. 31: S&P Global Ratings revised Meta's outlook to negative from stable, citing uncertainty around its capital spending and free operating cash flow, and forecasts FOCF deficits of $39 billion in 2026 and $71 billion in 2027, Reuters reported; Meta says it disagrees with S&P's view of its AI monetization. Earlier, Meta priced $25 billion of stock at $625 and $12.5 billion of mandatory convertibles; a separate $60 billion program is still unagreed.

Bedrock Robotics announced a $600 million Series C on October 26 at a $4.1 billion post-money valuation, co-led by CapitalG and Emergence Capital, bringing its total funding to nearly $1 billion. The company says its fully autonomous excavators have been doing paid work on live commercial job sites since mid-August and that its customer volume has more than doubled since 2025. Those deployment claims are the company's; the release and TechCrunch give no machine counts or revenue.

xAI has launched the SpaceX Super Intelligence Partner Network, an official program for companies that deploy Grok for enterprise customers or build plugins and integrations for it. It says more than 130 companies took part in early access and that engineers at more than 30 organizations have been trained through its Forward Deployed Engineer accreditation. Launch partners named include Bain & Company, Databricks, NVIDIA and Snowflake; many partner quotes on the page refer to Cursor.