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Jim Cramer believes Nvidia (NVDA) shares may not reach a bottom until more Wall Street analysts downgrade the stock. In an X post on November 11, he suggested that analysts who have already lowered their ratings are leaving early, while others have yet to follow. Cramer also criticized Morgan Stanley for removing Nvidia from its top stock picks. Nvidia shares have fallen around 25% since October 2. So far, Aletheia Capital and Baird have downgraded Nvidia to Hold. Baird also cut its price target from $500 to $200, reflecting growing caution among analysts.

Tesla (TSLA) and SpaceX-linked SPCX are showing similar price patterns, raising speculation about a possible merger or deeper business integration between Elon Musk’s companies. The comparison comes after Tesla’s $2.6 billion all-stock acquisition of SolarCity, which initially faced market criticism before Tesla shares rallied. Speculation is now growing around a possible SpaceX-Tesla deal. Tesla holds approximately $2 billion in xAI equity, which could potentially be converted into direct SpaceX shares. Wedbush previously estimated an 80% to 90% probability of further integration between Tesla and SpaceX by 2027. However, no merger has been confirmed.

Weeks before the scandal broke, Jensen Huang told Bloomberg’s Emily Chang that even he could lose his job at the company he founded. Huang said the CEO is always vulnerable and must keep earning the role, adding that he liked a system where he could be removed and a successor hired. Those comments now carry new weight as Nvidia’s board reportedly considers ousting him following reports of two extramarital relationships, one with a woman US intelligence suspects of spying for China. In the same interview, Huang said he hoped to lead Nvidia for another 20 years and had no plans to step down soon. Asked whether his two children, both Nvidia executives, could take over, he said they would have to earn it. He added that he hoped Nvidia’s next CEO would come from inside the company.

NVIDIA’s unpaid customer invoices surged by $24.6 billion in six months, reaching $63.1 billion as of July 26. Five direct customers accounted for 70% of the outstanding balance. NVIDIA attributed the increase to longer payment terms offered to large investment-grade customers, ranging from 90 days to one year. Its days sales outstanding also increased to 60 days in July from 45 days in April. CFO Colette Kress rejected concerns about circular financing, saying, “We know some will call this circular financing. We see it differently.” Investors will watch the November 17 earnings update for further clarity.

The average 30-year US mortgage rate stood at 7.24% at the end of October, according to Freddie Mac, as homebuyers weigh whether to wait for more Federal Reserve moves. The Fed held its benchmark rate at 3.75% to 4% on October 28, but two officials favoured a hike, and hotter October inflation has lifted market odds of a December increase to about 90%. The Fed does not set mortgage rates directly, though, and a fixed-rate loan stays unchanged once signed. On a $300,000, 30-year loan, monthly principal and interest is about $1,996 at 7%, $2,047 at 7.25% and $2,098 at 7.5%. That half-point gap adds roughly $102 a month and about $36,625 over the full term. Most owners do not keep a loan that long, however. A buyer who sells after five years would pay about $7,562 more. Rates have ranged from a record 18.63% in 1981 to a low of 2.65% in 2021.

A possible merger between Tesla and SpaceX has moved from speculation into formal review, with both companies now running committees to study a deal. A combined group would be worth close to $3.5 trillion based on SpaceX’s valuation of almost $1.9 trillion. The two businesses look very different. SpaceX grew third-quarter revenue 161% to $14.6 billion, with AI computing bringing in $7.56 billion, more than ten times a year earlier, and Starlink connectivity adding $5.25 billion. Tesla earned over $100 billion in revenue over 12 months, but sales were flat in the third quarter and still depend mostly on electric vehicles. Its operating profit has dropped from almost $15 billion at its late-2022 peak to $3.63 billion. Tesla trades at 417 times earnings and 13 times sales, while SpaceX trades at 56 times sales. A quick deal is seen as unlikely, though a proposal could come soon.

Long before Jensen Huang built Nvidia into a trillion-dollar giant, his wife Lori was the higher earner in the relationship. Born Lori Mills, she met Jensen when the two were paired as lab partners while studying electrical engineering at Oregon State University, where she graduated in 1985. She went on to work as a chip designer in Silicon Valley, earning more than her future husband in their early careers. After Jensen co-founded Nvidia in 1993, Lori stepped back from engineering to raise their two children. She later became president of the Jen-Hsun and Lori Huang Foundation, set up in 2007 to fund education, public health and science programmes. In 2022, the couple gave $50 million to Oregon State University for an AI and robotics research complex. Lori has not commented publicly on her husband’s admitted infidelity, as speculation grows over a possible divorce settlement.

The Kobeissi Letter has publicly urged Nvidia’s board not to remove Jensen Huang, arguing there is no clear successor and that his exit would hurt the company and the wider AI industry. The research firm pointed to a study of 187 forced CEO departures at S&P 1500 companies, which found that removing strong-performing leaders led to weaker long-term stock returns. It said Huang fits that profile. Kobeissi called on directors to avoid a rushed decision, finish a full investigation and hold a special shareholder meeting with an advisory vote on Huang’s future. It noted Nvidia stock has fallen 35% in 26 trading days, with nearly half the drop tied to the scandal, and estimated that Huang’s removal is already about 80% priced in. Keeping him, the firm argued, carries limited downside but significant potential upside.

Nvidia’s board allegedly met on Wednesday night, US time, to decide whether Jensen Huang should stay on as CEO, Reuters and CNN reported. As of at the time of writing, no decision had been announced. Before the meeting, the Wall Street Journal reported that directors were preparing to remove Huang. Bloomberg said the board is working with an outside search firm on possible replacements and is considering an interim CEO. The meeting marks a sharp shift from Sunday, when the board said it still had confidence in Huang after he admitted an affair with a Megaspeed executive whom US intelligence reportedly suspects of spying for China. Pressure grew after the New York Times reported a second relationship, with Nvidia healthcare vice president Kimberly Powell, who reported directly to him. Nvidia shares fell more than 9% in after-hours trading. The company reports earnings on November 17.

Elon Musk has weighed in on the turmoil at Nvidia, saying it would be an honour to hire Jensen Huang. Musk made the remark on X in reply to a post from financial news account ZeroHedge urging him to bring Huang on board. The comment came hours after the Wall Street Journal reported that Nvidia’s board is preparing to remove Huang as CEO, following a New York Times report of a second alleged affair, this time with Nvidia healthcare vice president Kimberly Powell. Musk did not say whether he would make any formal offer. His companies are among Nvidia’s largest customers, with SpaceX recently signing a $40 billion lease for Nvidia’s Vera Rubin systems. Nvidia shares fell 8.6% in after-hours trading on the ouster report.

Kimberly Powell, 48, is Nvidia’s vice president of healthcare and has worked at the chipmaker for more than 18 years. She joined as a director in 2008 after working as an engineer and in product development at an electronics startup, initially promoting Nvidia’s chips for medical imaging. Powell became a senior director in 2016 and was named vice president of healthcare in late 2017. She now oversees Nvidia’s healthcare hardware and software business, covering medical imaging, life sciences and drug discovery, and reports directly to CEO Jensen Huang. The New York Times, citing five former employees, reported that the two were seen being affectionate at a San Jose hotel during Nvidia’s March developer conference. A bystander who filmed the moment was reportedly offered a non-disclosure agreement. Powell, Huang and Nvidia declined to comment. Reports say Powell is married with two children. Nvidia’s code of conduct lists personal relationships as a possible conflict of interest.

Days earlier, Jensen Huang apologised to employees for an affair with a woman whom US intelligence reportedly identified as a suspected Chinese spy. He has said nothing improper took place involving spying or sharing information with China. Nvidia’s board then launched an independent review. Now, according to the New York Times, the second relationship was with Kimberly Powell, Nvidia’s vice president of health care, who reported to Huang. The paper said the two were seen being affectionate at a hotel in San Jose during an Nvidia conference in March. Huang, Powell and Nvidia have not commented on the report. Huang has not admitted to a second affair.

The scandal around Nvidia CEO Jensen Huang has deepened. The New York Times reports that Huang had a second extramarital affair, this time with a senior Nvidia executive. Hours later, the Wall Street Journal reported that Nvidia’s board is preparing to remove him as chief executive of the company he co-founded in 1993. The Wall Street Journal reported, citing people familiar with the matter, that Nvidia’s board was preparing to meet as soon as Wednesday to decide Huang’s future. Nvidia has no clear succession plan, raising questions about who would lead the company on an interim basis if Huang is removed.