Binance and the Biggest Crypto Heist Ever

Jensen Huang has resigned as Chief Executive of Nvidia after reports of extramarital affairs, including one with a suspected Chinese spy. Huang’s fall from grace has stunned the AI industry and it has put Nvidia, one of the world’s most valuable companies, on rocky terrain. WSJ’s Robbie Whelan breaks down the fast-moving scandal and what happens next. Imani Moise hosts. Further Listening: - How Nvidia CEO’s Affair Became a National Security Nightmare - The Nvidia CEO’s Quest to Sell Chips in China Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Jensen Huang, the CEO of Nvidia, acknowledged that he had an affair with a tech executive named Alice Huang. U.S. officials suspect that she’s a Chinese intelligence asset. They also suspect that the company she worked for was illegally diverting coveted Nvidia chips to China. WSJ’s Robbie Whelan reports on the revelation of the affair and the fallout for Huang’s reputation. Kate Linebaugh hosts. Further Listening: - The Nvidia CEO’s Quest to Sell Chips in China - China and the U.S. Are in a Race for AI Supremacy Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

This year’s midterm election wasn’t just a big win for Democrats. It was also a win for data center opposition. Across the country, voters elected politicians who are critical of data centers and passed measures halting or restricting their development. WSJ’s Anissa Gardizy reports on what the election results mean for AI companies and what the industry plans to do next. Ryan Knutson hosts.  Further Listening: - Red, White and Who? The Anti-AI Voters - A Sneak Peek Into Anthropic’s Business Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Come see The Journal Live in Dallas on Monday, November 9th. Due to popular demand, we’ve released more tickets. Buy them here. Lev Stupnikov was an officer in Russia when he decided to do the unthinkable: sabotage his own military and defect over the border to Ukraine. WSJ’s Matthew Luxmoore takes us inside Stupnikov’s harrowing journey from young Russian military cadet to high-profile asset for Ukraine and what it reveals about the state of the war. Ryan Knutson hosts. Further Listening: - Trump Turns on Ukraine - An Exclusive Interview With Ukraine’s President Zelensky Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

America has a new political reality: Republicans’ decades-long grip on Southern politics has cracked. Democrats won major races this week, from Texas to South Carolina. WSJ’s Cameron McWhirter explains how the Republicans lost, how the democrats are expected to govern and whether or not the South’s purple status is here to stay. Kate Linebaugh hosts. Further Listening: - Red, White and Who? A Blue Tsunami - Red, White and Who? The Swing Voters in South Texas Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Last week, Microsoft announced that the company is offering buyouts to 60,000 employees. Like much of corporate America, the tech giant is facing pressure to increase AI spending and shave costs. WSJ’s Chip Cutter reports that buyouts are becoming a trend. These kinds of programs offer a tempting solution for companies that want to avoid the disruption and backlash that comes from mass layoffs. Imani Moise hosts. Further Listening: - The Era of AI Layoffs Has Begun - Corporate America’s Embrace of Trump 2.0 Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Democratic Party has taken control of the Senate and House in what WSJ's Christopher Matthews calls a “rebuke” of President Trump. Chris analyzes Democrats' key Senate wins in Republican strongholds like Texas, Kansas and South Carolina, and looks ahead to the new Congress's future relationship with the president. Ryan Knutson hosts.  Listen to the rest of "Red, White and Who?" to understand the forces that shaped this election: - A Progressive Gamble in Michigan - The Swing Voters in South Texas - The Inflation Election - The Anti-AI Voters Sign up for WSJ’s Politics newsletter. Illustration: James Walton Learn more about your ad choices. Visit megaphone.fm/adchoices

The world’s largest crypto exchange suffered the biggest crypto hack in history last week. In just 20 minutes, criminals made off with at least $6.3 billion from Binance. The speed and scale of the heist has left the crypto industry reeling. WSJ’s Patricia Kowsmann explains how the hack happened, who did it and the questions it raises about the safety of crypto. Imani Moise hosts. Further Listening: - The Crypto President: Part 1 - Severed Fingers and Wrench Attacks: A New Era in Crypto Crime Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this year’s midterm election, voters in California will decide on a ballot initiative proposing a one-time, 5% tax on the net assets of California residents worth more than $1 billion. Most of California’s billionaires oppose the tax. But unexpectedly, many of the state’s Democrats and unions are also against it. WSJ’s Laura Nelson reports on why support for the wealth tax has been so fractured when so many Democrats say they’re in favor of higher taxes on the ultrarich. Ryan Knutson hosts. Further Listening: - The Rise of the World’s First Trillionaire - Why Billionaires Are Giving Money to Kids Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

There’s been a big sell off in tech stocks this week, as investors question tech companies’ massive spending on AI. This comes days after Anthropic secured a record-breaking $63 billion deal with Broadcom to finance more chip purchases. WSJ’s Alexander Saeedy explains the deal and why it's getting increasingly difficult for AI companies to raise money. Ryan Knutson hosts.     Further Listening: - A Sneak Peek Into Anthropic’s Business  - Red, White and Who? The Anti-AI Voters Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices