White House launches formal inquiry into Fed Governor Lisa Cook
Original summary · What happened
President Donald Trump established a specialized committee of inquiry on Friday to investigate Federal Reserve Governor Lisa Cook over allegations regarding mortgage documentation. The investigative panel consists of three administration officials: senior economic adviser Kevin Hassett, Labor Secretary and acting Office of Government Ethics head Keith Sonderling, and Equal Employment Opportunity Commission Chair Andrea Lucas. The action follows an earlier attempt to dismiss Cook in 2025 that was struck down on procedural grounds by the Supreme Court.
An administrative proceeding is scheduled at the White House on November 5, where Cook will be allowed legal representation, the ability to submit evidence, and time until November 10 to provide additional written responses. The committee is tasked with advising the president on whether legal cause exists for her dismissal from the central bank. Legal representatives for Cook have firmly denied any wrongdoing, describing the accusations as unfounded claims stemming from routine clerical errors.
1 independent sources ·
Expanding access channels drive Nvidia valuation near record heights
Original summary · What happened
Surging demand for artificial intelligence processors has lifted Nvidia's equity valuation toward the $6 trillion threshold, driven by diverse distribution channels spanning major hyperscalers, neoclouds, and specialized hardware marketplaces. Customer concentration has expanded simultaneously, with regulatory filings showing five corporate clients each generated at least 10% of accounts receivable during the July quarter, compared to three clients previously.
Industry research tracked by SemiAnalysis recorded 323 active providers offering access to Nvidia graphics processing units as of September, expanding from 209 recorded 11 months earlier. Management projects $108 billion in net revenue for the October quarter, representing an 89% increase compared to the prior year. The proliferation of third-party neoclouds and specialized cloud infrastructure reflects sustained enterprise capital expenditure across broader artificial intelligence deployments.