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Honda will spend $3 billion on a new vehicle assembly plant near its existing operations in Marysville, Ohio, the Japanese carmaker said on Monday. The factory is set to open in 2029, build up to 240,000 vehicles a year and create more than 2,000 jobs. It will focus mainly on hybrids, which have grown in popularity in the US, but will also be able to produce gas-powered and electric models. The plant will lift Honda’s US light vehicle capacity to 1.3 million units a year and is its first new mass production assembly site since Indiana opened in 2008. Carmakers are moving more production to the US to avoid tariffs and high shipping costs. Audi recently announced a $4 billion plant in Georgia. Honda paused an $11 billion EV project in Canada in May, and US tariffs on Canadian vehicles could double to 50% in January without a trade deal

Nvidia shares fell 4.74% in premarket trading on Monday to $177.80, down $8.84 from Friday’s close of $186.64, after the company’s board opened an independent investigation into CEO Jensen Huang. The review follows reports in the New York Times and Financial Times that US intelligence agencies believe Alice Huang, an executive at cloud firm Megaspeed, passed information to Beijing and targeted the Nvidia chief. Huang told employees he had fallen short of his responsibilities and admitted being unfaithful to his wife. He said he fully supports the review. The board said it has no current reason to believe national security or company secrets were compromised. The drop leaves Nvidia about 27% below its record high of $243.37.

SpaceX shares rose 0.99% in premarket trading on Monday to $135.60, building on Friday’s 8.62% rebound to $134.27. The stock is now hovering near its $135 IPO price from June. CNBC’s Jim Cramer said he wants to own SpaceX but is holding off, expecting more shares to hit the market. He estimates only about a third of SpaceX stock can trade today, with further lockups ending over the next eight months, including insider releases likely after second-quarter 2027 results. Cramer said that supply could outweigh demand in the short term. Spending is another concern. SpaceX expects fourth-quarter capital spending of $35 billion to $40 billion, almost double forecasts, though third-quarter revenue jumped 161% to $14.6 billion. Morgan Stanley’s Adam Jonas lifted his 2027 sales estimate to $175 billion, and Bernstein raised its price target to $268.

Nvidia (NVDA) shares came under pressure after CEO Jensen Huang admitted to an affair with a woman suspected by US intelligence of having ties to Chinese espionage. Huang apologized to his family and employees in a Sunday memo, confirming his infidelity and pledging full cooperation with the company’s investigation. Nvidia’s board has launched an independent probe into whether Huang was targeted by a foreign intelligence operation. The controversy adds uncertainty around the world’s most valuable company as US lawmakers seek answers. Nvidia is scheduled to report its quarterly earnings on November 17.

AI critic Gary Marcus has a striking comparison for Nvidia investors: doughnut chain Krispy Kreme has performed better than the chip giant over the past year. Speaking to CNBC, the New York University professor emeritus said the recent AI selloff is driven mostly by psychology, as investors lose confidence that generative AI will keep growing at rocket speed. He added that markets are now questioning whether the companies buying Nvidia’s chips can ever turn a profit. Marcus repeated his long-held warning that OpenAI could end up as the WeWork of artificial intelligence, referring to the office-sharing startup whose valuation collapsed. He also raised the possibility that OpenAI may one day be forced to sell itself at a discount to a partner such as Microsoft.

Alice Huang, also known as Huang Le, is a Chinese citizen and former senior executive at Singapore-based data centre firm Megaspeed, which bought more than $4.8 billion worth of Nvidia chips over two years, according to the New York Times. She is not related to Nvidia CEO Jensen Huang. A Chinese private fund database lists her as a former TV reporter at Hunan TV and state broadcaster CCTV, an assistant at HSBC’s private banking arm and a vice president at CITIC Securities. The New York Post, however, could not find a CCTV profile for her, and a Hunan TV executive said he had never heard of her. She was first photographed beside Jensen Huang at a Taipei bar in June 2024. A classified memo alleges that China’s Ministry of State Security recruited her to gather information on Nvidia. These claims have not been publicly proven. President Trump called the matter very complex and said officials would look into it closely.

Nvidia’s board has set up a special committee of independent directors, supported by outside lawyers, to review allegations involving CEO Jensen Huang. The move follows reports that Huang had a relationship with Alice Huang, a former senior executive at Singapore-based Megaspeed International, whom US intelligence agencies reportedly suspected of having ties to Beijing. In a letter to employees obtained by the Washington Post, Huang reportedly apologised for being unfaithful to his wife and said his actions had hurt his family. The board said it currently has no reason to believe national security or Nvidia’s confidential information was compromised, but the committee will examine all available information. Huang has backed the review and pledged full cooperation. No wrongdoing has been found. Megaspeed, a major buyer of Nvidia chips, has faced US scrutiny over suspected diversion of processors to China.