James Altucher:

Nvidia and Jensen Huang Sued in U.S. Over Affair With Alleged Chinese Spy

Nvidia and its chief executive, Jensen Huang, have been accused of misleading shareholders in a lawsuit over the Chinese spying scandal engulfing the $4.3 trillion company.

The legal action came as President Trump said the FBI was investigating Huang’s affair with an alleged Chinese spy.

According to a complaint filed in federal court in California, Nvidia and Huang misled shareholders in connection with the executive’s alleged affair with Alice Huang, a former executive of Singapore-based ⁠Megaspeed, who is not related to him.

The lawsuit claims both parties did not disclose that the matter raised national security concerns that threatened the chipmaker’s reputation and business prospects.

The New York Times reported on the alleged relationship last month, and said U.S. authorities had concluded Alice Huang was a Chinese intelligence asset. Nvidia described its executive’s interaction with Alice Huang as “not unusual or unexpected” in a comment submitted to the New York Times last month.

On Sunday, Huang admitted he had been “unfaithful” to his wife, without identifying the person involved in the affair.

The lawsuit claims the NYT statement was “materially false and misleading at the time it was made because Jensen Huang had an affair with Alice Huang.”

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Chris Campbell:

School Buses Are Becoming AI-Powered Ticket Machines

AI cameras are turning America's school buses into mobile traffic enforcement systems, and there's plenty of money to be made in this business.

An investigation by Bloomberg and Type Investigations earlier this year reported that BusPatrol equipped around 35,000 buses across 24 states. Its cameras flag suspected illegal passing, with police reviewing evidence before tickets are issued.

In Montgomery County, Maryland, the investigation tallied more than 375,000 tickets and $92 million in issued fines. Those are some stunning figures, but the research found little reduction in violations and no evidence of fewer collisions near stopped buses.

The technology itself does more than photograph license plates. Allentown School District describes a process combining footage, GPS coordinates, and timestamps. AI filters incidents before a trained specialist builds an evidence package for police. All parties involved insist that human review remains part of the process, rather than software simply mailing out fines.

This is another example of AI cameras being used for more than reading license plates, though other cases can be just as controversial. It was reported in September that Dallas has mounted AI cameras on garbage trucks to flag property violations and assign homes a "blight score," prompting concerns about privacy and unfair fines.

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Davis Wilson:

Anthropic Sets IPO Price Range of $70 to $78 per Share

Anthropic intends to push ahead with its IPO despite shakier markets and the broader pullback from AI investing.

The Claude-maker said in an updated IPO filing on Tuesday that it would be offering a total of 825 million Class A shares at an estimated price range of $70 to $78 per share. The sale is expected to raise anywhere from $57.75 billion to $64.35 billion.

The company could end up being worth a hefty $1.404 trillion if its shares list at the top of the price range, on a fully diluted basis. That would represent a significant jump up from the $965 billion valuation Anthropic reached in a May fundraise, but it’s still lower than the $2 trillion the company was reportedly targeting a couple months ago.

Separately, Anthropic said it had struck a deal to privately sell $26 billion of non-voting Class N stock at the IPO price to AMD, Broadcom, Google, Micron, Microsoft, Nvidia, and TSMC. Google and Nvidia are investing $10 billion apiece.

All up, Anthropic estimates net proceeds to reach somewhere between $84.6 billion and $93.7 billion (the latter if the IPO underwriters exercise their option to buy additional shares).

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