Singapore-based billionaire David Sun previously invested about $1.3 billion. He has stopped investing after Jensen Huang resigned.

Meta shares fell to about $628 each. United Airlines has barred the company's Muse agent from booking tickets. The restriction weighed on the outlook for AI applications.

Stocks surged Wednesday as strong AI earnings helped the tech trade recover from a painful start to the week following bombshell revelations of Nvidia CEO Jensen Huang’s affair with an alleged Chinese spy.

Inflation came in hotter than expected in October as energy costs continued to rise amid the Iran war – teeing up the Federal Reserve to hike interest rates next month.

The S&P 500 and the Nasdaq each gained 2%. Nvidia fell more than 5% after its CEO, Jensen Huang, became the subject of a foreign intelligence investigation.

The company has opened a biology laboratory and acquired two startups. No AI-developed drug has yet received FDA approval.

Investors view the $1.5 trillion valuation as too high and are seeking more favorable pricing. A technology stock selloff and geopolitical uncertainty are also weighing on the IPO outlook.

Lockheed Martin will pay $29.5M to settle DOJ and EEOC claims that its diversity initiatives discriminated against white employees.

News Corp reported adjusted earnings per share of 28 cents, beating expectations. Revenue rose 6% to $2.28 billion. Its digital real estate, Dow Jones and book publishing units each posted growth.