Morning Scan

Nvidia went from record-setting chipmaker to a company searching for a new CEO in a single week, and competitors and partners are adjusting their positions. AI agents are reaching the real economy, and some companies are keeping them out.

$166B — The amount U.S. importers could get back in tariff refunds if a class action succeeds in making rebates universal and automatic. (Fortune)

Chips, Politics, and an Empty Corner Office

Nvidia CEO Jensen Huang has resigned

Huang is out following reports of two extramarital affairs, leaving the world's most important chip company without its public face mid-boom. (Ars Technica)

Nvidia appoints ex-Synopsys CEO Harvey C. Jones as its first-ever board chair

The board's exit release for Huang includes no quote from Huang. (The Verge)

OpenAI joins groundswell of support for AI chip control measures (paywall)

OpenAI told lawmakers it backs a bipartisan push to curb China's access to AI chips and chipmaking tools, putting the industry's loudest voice on the export-control side. (Bloomberg)

Foxconn reports Q3 revenue up 47% YoY to ~$95.4B (paywall)

AI servers and iPhone Duo demand pushed net income up 34% to ~$2.4B, and the 2027 forecast is strong, so the supply chain isn't flinching. (Bloomberg)

Money Moves

Despite efforts to limit tariff refunds, importers move one step closer to $166 billion in universal rebates

After the Supreme Court ruling, the fight is over whether every importer gets paid automatically or has to ask. (Fortune)

Anthropic's IPO roadshow video

The roadshow is underway, and the video reportedly includes previously unreleased material. (Simon Willison's Weblog)

Want to Short a Stock? Kalshi and C.T.F.C. Allow It as "Perpetual Trades" (paywall)

A federal regulator now allows wagering on stocks and crypto, and two big clearinghouses are suing. Expect the question of whether this is a bet or a security to get louder. (NYT)

Bots at the Door

United Airlines Blocks A.I. Agents From Booking Flights (paywall)

Citing customer data and regulatory compliance, United is barring digital assistants from logging in, an early sign that "agentic commerce" will meet resistance. (NYT)

Schwab will let investors place trades through AI chatbots

Schwab is taking the opposite approach to United, targeting Gen Z and millennials while keeping control of the login itself. (eMarketer)

Ring cameras go mobile as Amazon debuts AI-powered security drone and robot

Amazon is betting customers want a robot patrolling their home. (Ars Technica)