The Market 
By Chief Editor Clark for The Market MBA
Friday, Nov. 13, 2026 · Mid-Day Brief (as of noon CT)
A day after Jensen Huang resigned, the question on Friday was who runs Nvidia next, and the Financial Times reported that the board has sounded out Arm’s CEO. Meanwhile the AI trade kept unwinding: chip stocks fell harder than Nvidia itself, and AI cloud providers extended Thursday’s losses. On the product side, Anthropic, OpenAI, Cognition and Google all shipped new agent tools a week before Anthropic’s IPO.
Nvidia’s board approaches Arm CEO Rene Haas about the top job
Nvidia’s board has approached Rene Haas, chief executive of chip designer Arm Holdings, as a possible successor to Huang, the Financial Times reported Friday, citing people familiar with the matter (Reuters could not independently verify it). Haas spent more than seven years at Nvidia before taking over Arm in 2022, and he is one of several candidates; there is no guarantee he will be offered the job or take it. Arm (ARM) shares fell 6.5%, with the drop speeding up after the report, Investing.com said. Why it matters: Arm’s designs sit inside much of the chip industry, including Nvidia’s own Grace and Vera processors, so a move would leave two key companies changing leaders at once. Colette Kress remains Nvidia’s interim CEO.
Sources: Investing.com, Reuters via Economic Times
The AI chip sell-off deepens as investors question Nvidia’s financing role
AI-linked stocks fell again Friday morning. The Nasdaq-100 was down 2% and the Philadelphia Semiconductor index (a basket of chip stocks) lost 5.1%, Reuters reported. AMD (AMD) fell 10.7% and Broadcom (AVGO) 5.9% after five straight gains, while Nvidia (NVDA) was down roughly 3% to 4%. AI cloud providers CoreWeave (CRWV) and Nebius (NBIS), both backed by Nvidia, slid 8.8% and 9%. The worry: under Huang, Nvidia helped finance the data centers that buy its chips, and investors now question whether that support continues. Higher borrowing costs added pressure, with the 10-year Treasury yield touching 5.17%, its highest since October, Yahoo Finance reported. Our morning article on producer prices explains the inflation backdrop.
Sources: Reuters via Investing.com, Investopedia, Yahoo Finance, The Market MBA
Anthropic lets companies run Claude agents on their own servers
Anthropic opened a private beta of self-hosted Claude Managed Agents, which lets companies run Anthropic’s agent service inside their own infrastructure. The customer hosts the agent server, database and sandboxes (walled-off spaces where agents run code), so session history and login credentials stay in-house, and model requests can go to Anthropic or through cloud providers such as Amazon Bedrock, Google and Microsoft Foundry. Why it matters: banks, hospitals and other regulated buyers often can’t send sensitive data to an outside service, and this removes a big objection days before Anthropic’s IPO prices on Nov. 18 ($70 to $78 a share) and starts trading as ANT on Nov. 19.
Sources: Claude docs, Help Net Security, Trustloud
OpenAI launches ChatGPT Wallet and reportedly lands a smaller raise
OpenAI introduced ChatGPT Wallet, built with American Express, Mastercard and Visa, which lets AI agents pay for things without seeing a user’s actual card number; each purchase needs approval with a check such as Face ID. It starts with U.S. ChatGPT Pro subscribers through OpenAI’s dots agents. Separately, OpenAI is raising $15 billion at a $1.25 trillion valuation, CNBC reported, half the $30 billion it first sought and below an earlier $1.4 trillion target, according to Tech Funding News. That puts OpenAI’s private price close to the roughly $1.2 trillion to $1.3 trillion Anthropic’s IPO range implies.
Sources: OpenAI, Tech Funding News
Coding-agent watch: Cognition’s Devin now builds and hosts team apps
Cognition, maker of the AI software engineer Devin, launched Devin Apps: a team describes a tool it needs, such as a metrics dashboard or review queue, and Devin builds it and hosts it as a private web app on its own cloud computer. Apps are never public, require a Devin sign-in, can tap a company’s existing code and integrations, and are billed by machine uptime. Cognition was valued at $48 billion after a $2 billion round in September, Investing.com noted. Why it matters: coding agents are moving from writing code to running the software they write, a step closer to replacing parts of internal IT work.
Source: Investing.com
Google’s Gemini 4 Hydrogen targets cheap, fast coding agents
Google released Gemini 4 Hydrogen, a faster, lower-cost model built for coding and agent tasks, now in the Gemini API, AI Studio, the Gemini app and Search. Google says it scores 51 on the Artificial Analysis Intelligence Index, edging its pricier Gemini 4 Argon, and it costs $1.50 per million input tokens and $7.50 per million output tokens (tokens are chunks of text). Cheaper capable models put price pressure on Anthropic and OpenAI, whose coding tools compete for the same developers.
VC: $1 billion for Mirendil, $300 million for LangChain
Investors kept writing big checks for AI despite the stock sell-off. San Francisco research startup Mirendil raised a $1 billion Series A co-led by Kleiner Perkins and Clearlake Capital, without disclosing a valuation, and LangChain, whose software helps companies build and monitor AI agents, raised $300 million at a $3 billion valuation in a round led by Alphabet’s CapitalG, according to the company and a Tech Startups roundup.
Sources: LangChain, Tech Startups
That’s the mid-day brief. Stay in the know, not in the weeds.
Not financial advice. This brief is for educational purposes only. Nothing here is a recommendation to buy or sell any security.
For education and entertainment only. Not financial advice.
