Colette Kress, chief financial officer since 2013, is interim chief executive under newly appointed chair Harvey Jones, who says the board has full confidence in her - the same board running an independent investigation into Huang's conduct; no permanent successor has been named, and the Arm approach Nvidia called premature is unresolved.

US officials had Huang's name unmasked from spring intercepts and Rubio circulated a memo on the affair to a handful of seniors - yet CIA and ODNI officials say the intelligence does not prove Alice Huang spied, and the Attorney General has reached no conclusion.

The Fed's twice-yearly stability survey put AI far ahead of every other danger - the next worry, a risk-asset correction, drew 52% - flagging stretched equity valuations, complex AI-related financing, and cyber damage caused by frontier models themselves.