Good Morning! Anthropic’s IPO is reportedly multiple times oversubscribed as the company seeks to raise as much as $90.4 billion. OpenAI’s revenue jumped ~50% quarter over quarter to $10 billion. And Nvidia received a rare downgrade from Baird over uncertainty surrounding its CEO.

CoreWeave shares surged after a higher outlook eased concerns about an AI slowdown. And New York workers can now see what their bosses have written about their job performance.

Plus: Why a private equity firm suddenly halted deportation flights for ICE, Blackstone targets $3 billion for real estate secondaries, and how to get out of your own head.

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If you’re having a rough week at work, don’t worry, because Nvidia CEO Jensen Huang is definitely having a worse one. 33 years after coming up with the idea to start Nvidia over breakfast at Denny’s and $5 trillion in market cap later, Huang is reportedly facing an effort by his own board to remove him.

Nvidia was already reeling from reports that Huang had an extramarital relationship with an alleged Chinese spy. Huang has since apologized to both his family and his employees, and the company has shed hundreds of billions of dollars in market value amid the fallout.

And yesterday, The New York Times reported that Huang had a second extramarital relationship, this time with Kimberly Powell, Nvidia’s vice president of healthcare. Powell, who is also married, has worked at the company since 2008 and reports to Huang.

Huang and Powell were reportedly seen in March 2026 being affectionate at a San Jose hotel after an Nvidia conference. A bystander allegedly filmed the encounter before Huang’s security team approached him and asked him to sign a nondisclosure agreement.

The board is working with an external firm to explore potential replacements for Huang, with Tim Cook reported as a possibility, and Nvidia shares were down 8% in aftermarket trading. And it will be interesting to see what happens. Huang has long argued against succession planning and has around 60 direct reports, and there’s no clear-cut deputy he can pass the torch to. 

Takeaway: It’s hard to imagine Nvidia without Jensen Huang, but he could reportedly resign or be fired as soon as today. Investors spent the past couple of years debating whether Nvidia and AI demand would live up to lofty expectations, but nobody had the CEO’s extramarital affairs as the downside case. Charlie Munger once said “there are only three ways a smart person can go broke: liquor, ladies, and leverage.”

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