Squawk Box Europe Express

The New York Times reports that President Trump was told en route to China in May about Nvidia CEO Jensen Huang’s affair with an alleged Chinese spy, contradicting the president’s earlier accounts. Meanwhile, Anthropic has officially kicked off its blockbuster IPO roadshow, targeting a fully diluted valuation of up to $1.4 trillion at a price band of $70 to $78 per share, with plans to list as soon as next week. Neocloud firm CoreWeave expects to reach profitability by 2028 after posting a significant beat on quarterly revenue and lifting its guidance, which has helped ease investor anxieties surrounding its lofty $47 billion debt load. And, in Europe, Siemens Energy reported a surging quarterly net profit of €1.36 billion and is banking on higher margins next year due to relentless demand for AI data centers, with CEO Christian Bruch telling CNBC that he sees absolutely no pullback in the global AI buildout.
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President Trump reveals the FBI is investigating Nvidia CEO Jensen Huang over his affair with an alleged Chinese spy - sending shares in the AI darling lower as it sits out a Wall Street rally. The S&P 500 posts its best day since April, with chipmakers leading the charge, and investors asking whether we hit the bottom. In Europe, German chipmaker Infineon closes 2026 with its strongest quarter yet, and guides for a 20% jump in revenue next year. The CFO tells CNBC that, despite questions around AI valuations, there has been no slowdown in demand for chips or power. And in Japan, Softbank shares close up 14% - before revealing an eye-watering quarterly net loss of $7 billion.
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Nvidia is investigating its co-founder and CEO, Jensen Huang, over an affair with a businesswoman who intelligence agencies say is a Chinese spy. While markets are still licking their wounds after last week's AI meltdown, Asian equities started the new week mostly to the upside. On Wall Street, though, the tech-heavy Nasdaq is called marginally lower. Meanwhile, in Europe, UniCredit raised its 2026 profit guidance after blowing past third-quarter expectations and said it expects to take control of Germany's Commerzbank before the end of the year.
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A sea of red on Wall Street - chipmakers plummet as AI takes a major hit, with the Nasdaq posting its worst day in 19 months. Elsewhere, the sell-off bleeds into Asia, battering Japanese and South Korean stocks and triggering a circuit breaker on the Kospi. And the Bank of England says it expects inflation to peak at 5 percent by the middle of next year, as it hikes rates for the first time in over 3 years.
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The Blue Wave turns Wall Street green - the Dow surges for its best day since April 2025, gaining 1 thousand 600 points, while policy uncertainty hits a slew of other sectors. Elsewhere, it's choppy waters for Maersk, as shares tumble around 10 percent after missing its Q3 EBITDA - but the shipping giant still raises its profit guidance for a third time this year. And shares in Rheinmetall slump to their lowest level since June as investors question the company's growth guidance - other European defence names are also under pressure after yesterday's post-midterms sell-off.
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