Davis Wilson:

Jensen Is Out + My Next Move

Jensen Huang is out as CEO of Nvidia (NVDA). Colette Kress, CFO of 13 years, has been named interim CEO while the board searches for a permanent replacement.

As painful as Jensen's departure is, I don't believe the AI boom suddenly ended Wednesday night. Nvidia still has its technology. The hyperscalers are still building AI infrastructure. Data centers still need tons of equipment and electricity.

So I want to use this selloff as an opportunity. I currently own a significant position in Micron (MU). With the stock getting caught up in the Nvidia selloff, I'm considering selling that position and taking the tax loss before year-end.

I can then move that money into another AI beneficiary that gives me similar exposure to Micron, without triggering the wash-sale rule. Here are the options I'm considering: SanDisk (SNDK), AMD (AMD), and CrowdStrike (CRWD), plus call options on Bloom Energy (BE).

I've thought about buying more Nvidia shares or options on the stock. I already own a significant position, however, and frankly there are just too many questions regarding the stock right now. So while I'm holding my shares, I'd rather invest new funds elsewhere.

Click the link below to learn more about my repositioning strategy.

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Chris Campbell:

Microsoft Reports Progress in Reviving Email and Other Services During a Global Outage

Microsoft said progress is being made in bringing its popular workplace software back online as a global outage enters its second day, disrupting business communications, police crime reporting, court operations, AI tools and many other services.

The outage, which affected a wide range of Microsoft 365 services including Outlook, Teams and AI assistant Copilot, left people, institutions and businesses across the world without access to email and other platforms.

Microsoft said it was making headway as it tried to restore services Friday.

"We're seeing encouraging recovery progress, with service availability and email delivery performance improving across a growing portion of affected Microsoft 365 infrastructure," the company said, as some users started reporting that their emails were restored.

The company reported "broader improvements" in North America and "sustained improvements across much of Europe," as well as "encouraging recovery signals" in the Asia-Pacific region.

Users may have "intermittent access issues or delayed email delivery as mitigation progresses across the remaining affected infrastructure," Microsoft said.

The total number of people affected is not clear, but the company said in January that it had more than 450 million paid Microsoft 365 commercial subscriptions.

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James Altucher:

FBI Seizes $1.2 Billion Stolen in Binance Cryptocurrency Hack

The FBI has seized more than $1.2 billion of cryptocurrency stolen from Binance last month. Assets worth more than $6.3 billion in total were stolen from the crypto platform in late October, in what has been described as one of the "largest bank heists in human history".

U.S. authorities have said a North Korean hacking unit called TraderTraitor was responsible for the theft, which was reportedly completed in less than 20 minutes.

The U.S. government and private sector have collectively managed to freeze more than $2.7 billion of the funds stolen from Binance, with the Department of Justice saying on Thursday that it had obtained court authorization to seize or restrain in excess of $1.2 billion of that total.

Binance, one of the world's biggest platforms for trading digital assets, has said that "90% of stolen assets have been replenished", adding that the company will "absorb the financial impact" of the stolen funds, and not pass these on to their users.

The U.S. has repeatedly accused North Korea of using cyber schemes like the Binance hack to generate funds for its regime, including its weapons program. Officials insisted the U.S. "will continue the fight" against those who they said "financially gain from cybercrime".

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