{"id":74470,"date":"2026-11-10T15:38:14","date_gmt":"2026-11-10T19:38:14","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/jim-jordan-elected-house-gop-leader-nvidia-and-nscale-face-strategic-setbacks\/74470\/"},"modified":"2026-11-10T15:38:14","modified_gmt":"2026-11-10T19:38:14","slug":"jim-jordan-elected-house-gop-leader-nvidia-and-nscale-face-strategic-setbacks","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/jim-jordan-elected-house-gop-leader-nvidia-and-nscale-face-strategic-setbacks\/74470\/","title":{"rendered":"Jim Jordan Elected House GOP Leader; Nvidia and Nscale Face Strategic Setbacks"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/jim-jordan-elected-house-gop-leader-nvidia-and-nscale-face-strategic-setbacks\/74470\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/jim-jordan-elected-house-gop-leader-nvidia-and-nscale-face-strategic-setbacks\/74470\/#Political_Shift_Jim_Jordan_Takes_the_Reins\" >Political Shift: Jim Jordan Takes the Reins<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/jim-jordan-elected-house-gop-leader-nvidia-and-nscale-face-strategic-setbacks\/74470\/#Nvidia_Board_Launches_Independent_Probe\" >Nvidia Board Launches Independent Probe<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/jim-jordan-elected-house-gop-leader-nvidia-and-nscale-face-strategic-setbacks\/74470\/#AI_Infrastructure_and_Market_Volatility\" >AI Infrastructure and Market Volatility<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/jim-jordan-elected-house-gop-leader-nvidia-and-nscale-face-strategic-setbacks\/74470\/#OpenAI_Disrupts_Travel_Sector\" >OpenAI Disrupts Travel Sector<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/jim-jordan-elected-house-gop-leader-nvidia-and-nscale-face-strategic-setbacks\/74470\/#SpaceX_Scales_Solar_Production_for_AI_Satellites\" >SpaceX Scales Solar Production for AI Satellites<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/jim-jordan-elected-house-gop-leader-nvidia-and-nscale-face-strategic-setbacks\/74470\/#Federal_Reserve_and_National_Security\" >Federal Reserve and National Security<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Jim Jordan<\/strong> has been elected as the <strong>House Minority Leader<\/strong> for the next Congress, defeating Steve Scalise in a <strong>106-73<\/strong> secret ballot vote.<\/li>\n<li><strong><a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<a href=\"\/stock\/NVDA\">NVDA<\/a>)<\/strong> shares fell <strong>6%<\/strong> after the board confirmed hiring former U.S. Attorney <strong>Joon H. Kim<\/strong> and law firm <strong>Wachtell Lipton<\/strong> to investigate a potential foreign intelligence effort targeting CEO Jensen Huang.<\/li>\n<li><strong>Nscale<\/strong> is reportedly mulling a delay of its <strong>$35 billion<\/strong> New York listing following a broader AI market sell-off and the loss of <strong><a href=\"https:\/\/stockmarketwatch.com\/stock\/MSFT\" data-internallinksmanager029f6b8e52c=\"18\" title=\"Stock: MSFT\">Microsoft<\/a> (<a href=\"\/stock\/MSFT\">MSFT<\/a>)<\/strong> as a key anchor tenant.<\/li>\n<li><strong>OpenAI<\/strong> has acquired AI travel agent <strong>Odessia<\/strong>, a moves that sent shares of <strong>Expedia (<a href=\"\/stock\/EXPE\">EXPE<\/a>)<\/strong> and <strong>Booking Holdings (<a href=\"\/stock\/BKNG\">BKNG<\/a>)<\/strong> down as much as <strong>5%<\/strong>.<\/li>\n<li><strong>Rio Tinto (<a href=\"\/stock\/RIO\">RIO<\/a>)<\/strong> is cutting dozens of jobs at its Quebec processing plant, citing a significant drop in global <strong>lithium demand<\/strong>.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Political_Shift_Jim_Jordan_Takes_the_Reins\"><\/span>Political Shift: Jim Jordan Takes the Reins<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>House Republicans have elected Representative <strong>Jim Jordan<\/strong> (R-Ohio) as the party leader for the 120th Congress. Jordan secured <strong>106 votes<\/strong> to defeat Majority Leader <strong>Steve Scalise<\/strong>, who received <strong>73 votes<\/strong>. The shift to Jordan, a prominent conservative and chairman of the House Judiciary Committee, signals a more aggressive investigative stance for the GOP in the upcoming legislative session.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Nvidia_Board_Launches_Independent_Probe\"><\/span>Nvidia Board Launches Independent Probe<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The independent members of <strong><a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<a href=\"\/stock\/NVDA\">NVDA<\/a>)<\/strong>&#39;s board have retained <strong>Joon H. Kim<\/strong> and the law firm <strong>Wachtell, Lipton, Rosen &amp; Katz<\/strong> to lead a &quot;thorough and independent&quot; investigation. The probe aims to determine if CEO <strong>Jensen Huang<\/strong> was the target of a foreign intelligence effort. This announcement follows reports of a relationship between Huang and a Singapore-based executive, which is also being monitored by the <strong>FBI<\/strong>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"AI_Infrastructure_and_Market_Volatility\"><\/span>AI Infrastructure and Market Volatility<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>British cloud firm <strong>Nscale<\/strong> is reconsidering its planned <strong>$35 billion<\/strong> IPO on the New York Stock Exchange. The potential delay comes amid a cooling AI infrastructure market and operational setbacks at its flagship Norway data center. Investors have grown cautious after <strong><a href=\"https:\/\/stockmarketwatch.com\/stock\/MSFT\" data-internallinksmanager029f6b8e52c=\"18\" title=\"Stock: MSFT\">Microsoft<\/a> (<a href=\"\/stock\/MSFT\">MSFT<\/a>)<\/strong> reportedly withdrew from a major data center agreement in Essex, further complicating Nscale&#39;s valuation targets.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"OpenAI_Disrupts_Travel_Sector\"><\/span>OpenAI Disrupts Travel Sector<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>OpenAI<\/strong> has acquired <strong>Odessia<\/strong>, an AI-powered travel concierge that operates as a licensed travel agency. Unlike traditional search tools, Odessia can process full bookings for flights and accommodations directly within its interface. The acquisition immediately pressured established travel stocks, with <strong>Expedia (<a href=\"\/stock\/EXPE\">EXPE<\/a>)<\/strong> and <strong>Tripadvisor (<a href=\"\/stock\/TRIP\">TRIP<\/a>)<\/strong> seeing notable declines on fears of AI-driven disintermediation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"SpaceX_Scales_Solar_Production_for_AI_Satellites\"><\/span>SpaceX Scales Solar Production for AI Satellites<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>SpaceX<\/strong> has signed a major supply contract with <strong>Singulus Technologies<\/strong> to build a turnkey production line for advanced solar cells. The equipment will support more than <strong>100 GW<\/strong> of production capacity at SpaceX\u2019s facility in <strong>Bastrop, Texas<\/strong>. These high-performance cells are intended to power the new <strong>Starmind<\/strong> satellites, which are designed to provide space-based AI computing.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Federal_Reserve_and_National_Security\"><\/span>Federal Reserve and National Security<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Kansas City Fed President <strong>Jeff Schmid<\/strong> warned that inflation remains &quot;top of mind&quot; and described current interest rates as &quot;fairly accommodative.&quot; Schmid also predicted that <strong>instant payment systems<\/strong> like FedNow will eventually surpass digital asset structures in adoption. Separately, a member of the <strong>U.S. Army<\/strong> was arrested in the UK on suspicion of <strong>espionage<\/strong> related to Russia, an investigation involving the <strong>FBI<\/strong> and <strong>MI5<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Jim Jordan has been elected as the House Minority Leader for the next Congress, defeating Steve Scalise in [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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