CNBC Daily Open: SoftBank doubles down on AI amid warnings from ‘Big Short’ investor

SoftBank Sells Entire Stake in Nvidia — But Not for the Reasons You Might Think

In its earnings statement released Tuesday, SoftBank revealed that it had sold 32.1 million Nvidia shares in October for $5.83 billion. At first glance, this move might suggest that SoftBank is growing uneasy with Nvidia’s high valuations. Given SoftBank’s history—most notably its $18.5 billion investment in WeWork that eventually valued the company at only $2.9 billion—some investors might interpret this sale as a sign of the group tempering its usual optimism.

Adding to concerns around AI investments are recent comments by Michael Burry, the investor famous for betting against subprime mortgages before the 2008 financial crisis. On Monday, Burry posted on X that major artificial intelligence companies are “understating depreciation” of AI chips, which “artificially boosts earnings—one of the more common frauds of the modern era.” However, CNBC could not independently verify whether companies are engaging in such practices.

SoftBank’s Reason Behind the Nvidia Stake Sale

Despite the speculation, this does not appear to be SoftBank’s concern. A person familiar with the group’s sale told CNBC that the decision had nothing to do with AI valuations. On the contrary, the cash from offloading Nvidia shares will be redirected towards bolstering SoftBank’s $22.5 billion investment in OpenAI, according to the source.

Michael Burry promised to reveal “more details” on November 25 and encouraged readers to “stay tuned.” Whether this will influence SoftBank’s outlook remains to be seen.

Market Highlights

– The Dow Jones Industrial Average closed at a fresh high on Tuesday.
– The S&P 500 also rose, while the Nasdaq Composite retreated as investors rotated out of tech stocks.
– Europe’s Stoxx 600 rallied 1.28%, with the UK’s FTSE 100 hitting a record high.

Other Notable Developments

– **SoftBank also sold part of its stake in T-Mobile**, continuing its portfolio adjustments.
– **AMD forecasts strong growth**, with CEO Lisa Su projecting 35% annual revenue growth over the next three to five years, driven by “insatiable” demand for AI chips. The company also anticipates gross margins between 55% to 58%, surpassing analyst expectations.
– **U.S. trade update:** At the swearing-in ceremony of U.S. Ambassador to India Sergio Gor on Monday, President Trump hinted at possible tariff reductions, stating that he “will be bringing the tariffs down.” The White House is also reportedly working with Switzerland on a deal to lower tariffs.
– **Pop Mart shares surge:** The Chinese firm’s shares have risen more than 270% year to date, fueled by the popularity of its Labubu dolls. However, Bernstein analysts caution that it might be time to “stop collecting” Pop Mart stock.

Contributors: CNBC’s Yun Li, April Roach, and Dylan Butts.

This strategic repositioning shows SoftBank’s confidence in AI’s future potential, particularly through its significant investment in OpenAI, even as it moves away from direct Nvidia holdings.
https://www.cnbc.com/2025/11/12/cnbc-daily-open-softbank-doubles-down-on-ai-amid-warnings-from-big-short-investor.html

Republicans Inserted a Sinister Provision into the Shutdown Package

Having secured Democratic capitulation on a deal fat with empty promises, Senate Republican leader John Thune made sure that the agreement also addressed one of the president’s most important issues — whitewashing the insurrection of January 6, 2021. And, needless to say, he did so with the tacit approval of seven Democratic senators. It is, as they say, a “bipartisan” bill.

From Politico:

In an interview Monday evening, Sen. Ted Cruz (R-Texas)—who claims he was one of the lawmakers to have his data subpoenaed as part of former special counsel Jack Smith’s investigation into President Donald Trump’s efforts to subvert the 2020 election—said Thune was responsible for the inclusion of the provision.

“Leader Thune inserted that in the bill to provide real teeth to the prohibition on the Department of Justice targeting senators,” Cruz said.

A person close with direct knowledge of the legislation’s negotiations, granted anonymity to speak candidly, confirmed Thune oversaw the inclusion of the provision. It was tucked into the legislative branch spending measure for fiscal year 2026, part of a three-bill “minibus” of appropriations measures that Senators were set to vote on Monday night alongside a continuing resolution to fund the government through January 30.

The House is expected to clear the package for President Donald Trump’s signature as early as Wednesday.

Thune’s involvement is notable as the revelations that Smith collected phone records for several Senate Republicans have emboldened GOP lawmakers, prompting them to deflect Democrats’ accusations of weaponization of the Trump Justice Department and claim that President Joe Biden’s DOJ was looking to target conservatives.

Much as I’d like to believe that the “Tailgunner” ran his mouth about this in order to keep Thune in line, I think the Republican leader is all-in on his president’s project to consign January 6 to political and historical incoherence.

Thune is a bloodless, colorless politician who looks like the guy who chairs the banquet committee at a decent public country club. His career has been unremarkable. He has proven to be as pliable as the president needs him to be—a perfect supporting actor.

A perfect combination of legislator and apparatchik, Thune knows all his lines and how to hit all his marks.

“The abuse of power from the Biden Justice Department is the worst single instance of politicization our country has ever seen,” Cruz continued. “I think it is Joe Biden’s Watergate, and the statutory prohibition needs to have real teeth and real consequences.”

Because, while he is bloodless and colorless, Thune is not stupid. He knows good and well why Smith subpoenaed the limited phone records of the senators. At the time, there was an attempt to overturn the 2020 election that touched, in one way or another, the entire Republican party—very much including its legislative branch.

It was dead center in Jack Smith’s mandate to inquire what contact, if any, the White House of the time had with Republican senators.
https://www.esquire.com/news-politics/politics/a69384900/john-thune-jack-smith-watergate/

Watch the November 2025 PlayStation State of Play here

Today marks the date of the latest PlayStation State of Play, but this one will be a bit different from what has come before. The November 2025 event is a special edition titled **State of Play Japan**, with a sole focus on games developed in Japan and other studios across Asia.

You can watch the November 2025 PlayStation State of Play Japan live on the PlayStation YouTube channel. The event will take place today, **November 11, at 2 p.m. PT / 5 p.m. ET**.

We know a couple of key details about today’s PlayStation event. First, it will be approximately 40 minutes long. Second, it will primarily spotlight games from Japan and other Asian studios. This focus means publishers like Square Enix, Capcom, and Sony themselves are expected to be featured.

Stay tuned to the official PlayStation channel to catch all the latest announcements and updates from the State of Play Japan showcase!
https://www.shacknews.com/article/146776/watch-playstation-state-of-play-japan

Ex-Terrorist Leader Goes On Fox News, Gives Wild Answer About 9/11

Syrian President Ahmed al-Sharaa deflected responsibility for the Sept. 11, 2001 terrorist attacks during a Fox News interview on Monday. Nearly 3,000 people died across New York City, Washington, D.C., and Shanksville, Pa., during the 9/11 attacks, according to the Pew Research Center.

When asked directly on “Special Report with Bret Baier” if he regrets the attack, al-Sharaa distanced himself entirely from the event.

“I was only 19 years old, so I was a very young person, and I didn’t have any decision-making power at that time, and I don’t have anything to do with it,” al-Sharaa said. “And al-Qaeda was not present right then in my area. So you’re speaking to the wrong person about this subject.”

The Syrian leader then shifted the conversation.

**WATCH:** “We mourn for every civilian that got killed, and we know that people suffer from the war, especially civilians who pay the price, a hefty price for the war,” al-Sharaa said.

President Donald Trump hosted al-Sharaa at the White House on Monday, welcoming the former al-Qaeda member who once fought U.S. forces in Iraq and served time in Abu Ghraib prison. The U.S. government removed al-Sharaa from its terror list just days before his meeting with Trump, according to CBS News.

Al-Sharaa, who led a rebel coalition that toppled Bashar al-Assad’s regime in December 2024 while heading the militant group Hayat Tahrir al-Sham, has since recast himself as a pro-Western reformer. Legacy media outlets have described his government as “moderate” compared to Assad’s rule.

*(RELATED: Syrian President Ahmed Al-Sharaa Shoots Hoops With US Military Officials Ahead Of White House Visit)*

The visit marks the first time a Syrian head of state has entered the White House since Syria gained independence in 1946, NPR reported. Trump, during a speech in Saudi Arabia, said in May that he would lift U.S. sanctions on Syria.

*All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline, and their DCNF affiliation.*

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https://dailycaller.com/2025/11/11/ahmed-al-sharaa-fox-news-911/

College Football Playoff rankings: Texas Tech jumps Ole Miss, Miami rises

There wasn’t much action at the top of the College Football Playoff (CFP) rankings in Week 11. Texas A&M and Alabama both cruised through potential landmines in the SEC, while Indiana survived a scare from Penn State thanks to one of the best catches you’ll ever see.

However, looking outside the top five, there was plenty to take note of. Texas Tech routed previously unbeaten BYU in a pivotal Big 12 battle, establishing itself as the clear favorite out of that conference. Meanwhile, Oregon escaped a very rainy Kinnick Stadium with a hard-earned victory, keeping itself firmly in the playoff picture. Vanderbilt also stayed alive with a thrilling comeback win against Auburn in overtime.

In the ACC, losses from Virginia and Louisville further muddied the standings at the top of the conference, leaving the automatic bid very much up for grabs. Over in the Group of Five, Memphis’ loss to Tulane on Friday night opened the door for a new member to appear in the projected bracket as the CFP field begins to take shape.

Here are the full Week 12 College Football Playoff rankings, released by the selection committee on Tuesday night:

1. Ohio State (9-0)
2. Indiana (10-0)
3. Texas A&M (9-0)
4. Alabama (8-1)
5. Georgia (8-1)
6. Texas Tech (9-1)
7. Ole Miss (9-1)
8. Oregon (8-1)
9. Notre Dame (7-2)
10. Texas (7-2)
11. Oklahoma (7-2)
12. BYU (8-1)
13. Utah (7-2)
14. Vanderbilt (8-2)
15. Miami (FL) (7-2)
16. Georgia Tech (8-1)
17. USC (7-2)
18. Michigan (7-2)
19. Virginia (8-2)
20. Louisville (7-2)
21. Iowa (6-3)
22. Pittsburgh (7-2)
23. Tennessee (6-3)
24. South Florida (7-2)
25. Cincinnati (7-2)

This story will be updated as the season progresses. Stay tuned for the latest CFP news and developments.
https://clutchpoints.com/ncaa-football/college-football-playoff-rankings-texas-tech-ole-miss-miami-rises

Reggie Fils-Aime is surprised Xbox ‘has not yet embraced the Switch 2’

With the Nintendo Switch 2 having been out for a few months, there aren’t many voices we’d be more interested in hearing from than former (and legendary) Nintendo of America president Reggie Fils-Aimé. Recently, Fils-Aimé shared his thoughts on the Switch 2’s launch and its performance so far, applauding many of the decisions Nintendo has made.

However, one aspect left him puzzled: he doesn’t understand why Xbox hasn’t been more aggressive in porting its games to the platform.

Fils-Aimé discussed these insights during a recent episode of *The Game Business Show* with host Christopher Dring. When asked about the Switch 2’s launch, he shared several observations, but his standout comment focused on what he perceives as a lukewarm approach to software availability on the new console.

Dring pointed out that while titles like *Tony Hawk’s Pro Skater 3+4* have made their way to the Switch 2, and *Indiana Jones and the Great Circle* is expected to arrive soon, Xbox’s presence on the platform remains surprisingly light. This is particularly notable given that developing games for the Switch was a key requirement imposed by trade authorities to approve Xbox’s acquisition of Activision Blizzard.

As the Switch 2 continues to build momentum, gamers and industry watchers alike will be keen to see if Xbox ramps up its support for the platform moving forward.
https://www.shacknews.com/article/146779/reggie-fils-aime-xbox-switch-2

Supreme Court weighing Mississippi mail-in ballot case that could have major impact on Illinois voting laws

The U.S. Supreme Court has agreed to hear arguments in a Mississippi case that could have a major impact on Illinois’ efforts to promote voting by mail. The high court is expected to decide whether ballots cast and postmarked on or before Election Day in a general election can be counted if received afterward.

The combined suit, brought by the Republican National Committee and the Libertarian Party and supported by the conservative law group Judicial Watch, asks the Supreme Court to uphold a 5th U.S. Circuit Court of Appeals decision. That ruling stated that ballots must be received by Election Day in November to be counted.

Under Illinois law, mail-in ballots postmarked or certified on or before Election Day can be counted by local election authorities up to 14 days after the election. Similarly, a 2020 Mississippi law, enacted during the COVID-19 pandemic, allowed mail-in ballots to be counted within five business days following Election Day.

The Supreme Court’s decision could have wide-ranging effects in Illinois and as many as 27 other states, along with the District of Columbia, where local and state laws allow the counting of ballots received after Election Day. Illinois filed a brief supporting the existing Mississippi law.

Judicial Watch is also behind a similar effort to restrict post-Election Day vote counting in a federal lawsuit filed on behalf of veteran downstate Republican U.S. Rep. Mike Bost of Murphysboro. However, federal courts in Chicago dismissed the lawsuit, ruling that Bost lacked standing. The Supreme Court has already heard oral arguments regarding standing but has not yet issued a ruling.

The Mississippi case ruling could come as early as July 2024, just months before the critical midterm elections that will decide control of Congress. Historically, Democrats have been better organized in early voting and vote-by-mail campaigns. In contrast, former President Donald Trump has repeatedly urged voters to cast ballots only on Election Day, falsely claiming that mail-in ballots are prone to fraud.

Illinois has taken several steps to expand voting access, including mail-in voting. The state recently allowed voters to request that local election authorities send them mail ballots permanently. During the 2020 COVID-19 general election in Illinois, one-third of the nearly 6.1 million ballots cast were by mail. In 2022, mail ballots accounted for nearly 18% of the 4.1 million votes cast. Last year, nearly 1 in 5 of the 5.7 million ballots cast were mail-in ballots.

In the 2022 general election, over 110,000 ballots were returned and counted during the 14-day post-election period, including 3,252 overseas military votes. In last year’s general election, more than 99,000 ballots arrived and were counted after Election Day, including nearly 1,000 military ballots.

At the heart of the case is the October 25, 2024, ruling by a panel of the 5th U.S. Circuit Court of Appeals. The panel asserted that the federal statute establishing a uniform day for federal elections—and the U.S. Constitution’s Elections Clause—require that all ballots be both “cast by voters and received by state officials” by the end of Election Day.

The appeals court ruled that the term “election” includes both the casting and receipt of ballots, with an election considered complete only when all ballots have been received. It stated, “Text, precedent, and historical practice confirm this ‘day for the election’ is the day by which ballots must be both cast by voters and received by state officials.” The court added that a ballot is considered “cast” only when the state takes custody of it, not when a voter fills it out.

Reacting to the Supreme Court’s decision to hear the case, Ken Martin, chair of the Democratic National Committee, called the lawsuit “a multipronged effort by Trump and Republicans to restrict vote-by-mail and early voting.”

“Voting by mail and voting early are safe, secure, and empower more eligible voters to participate in our elections. That is a good thing for our democracy,” Martin said in a statement. “The DNC will fight like hell in this case for the rights of Mississippians and every other citizen to make sure their voices are heard and their votes are counted.”

On the other side, Tom Fitton, president of Judicial Watch, said the Supreme Court “now has an opportunity to reaffirm that ‘Election Day’ means what it says under federal law.”

“Counting ballots received after Election Day not only violates federal law but encourages voter fraud and undermines voter confidence,” Fitton said.
https://www.chicagotribune.com/2025/11/11/supreme-court-mail-in-voting-illinois/

Saks Off Fifth is closing main NYC store — and 9 other locations in the US

Another One Bites the Dust: Saks Off 5th to Close Nine Stores Across the US

It’s a sad day for savvy shoppers and the end of an era, some might say. Saks Off 5th, the off-price department store and sister brand to Saks Fifth Avenue, is closing nine stores across the United States, including several locations in the tri-state area.

In an effort to “place greater attention to our high-performing and high-potential store locations,” the company has decided to shutter stores in Austin, Texas; Chicago; Washington, D.C.; Franklin Mall in Philadelphia; Pittsburgh North (McKnight Road); Plymouth Meeting, Pennsylvania; East Hanover, New Jersey; Niagara Falls, New York; and West Hartford, Connecticut.

While these stores will remain open until the new year, the main Saks Off 5th store in New York City’s Upper East Side (125 E 57th Street) will officially close its doors on December 31.

When contacted for comment, Saks Off 5th stated, “We are confident this will better position the Saks Off 5th business for long-term success and look forward to continuing to deliver for our customers.”

Contrary to what many might assume, these closures do not signal bankruptcy. Last month, rumors circulated that Saks Global, the parent company, was potentially facing Chapter 11 bankruptcy. However, a spokesperson for the brand quickly dispelled these rumors: “It is important to note that a restructuring is not being contemplated. Moreover, we are making strong progress to reduce outstanding payments, invest in our transformation, and drive improved performance.”

As the retail industry continues to face challenges from declining foot traffic and unimpressive sales, Saks Off 5th joins a growing list of retailers closing locations. This past August, luxury retailer Nordstrom shut its Saint Louis Galleria store in St. Louis, Missouri, as well as a location in Santa Monica, California.

“We believe we’ll be best able to serve customers in each region by leveraging our surrounding stores and through our digital channels,” a Nordstrom spokesperson said in a statement.

The retail landscape is undoubtedly shifting, and Saks Off 5th’s strategic closures reflect a focus on adapting to changing consumer behaviors while positioning themselves for future success.
https://nypost.com/2025/11/11/lifestyle/saks-off-fifth-closing-9-stores-in-the-us/

Did Your City Make the Cut? People Ranking Their Top 17 US Destinations

Have you ever wondered how your city stacks up against others in the United States? You’re about to find out as we reveal the top U.S. destinations, ranked by people who have experienced everything these places offer. From stunning landscapes to rich history and vibrant urban life, we’ll explore diverse spots that have made a lasting impression on visitors. Let’s discover if your city has made the list and learn what makes these destinations remarkable.

### 1. Burlington, Vermont
Burlington brilliantly blends natural splendor with cultural allure. It’s a top pick for many due to its welcoming spirit, dynamic city life, and astonishing landscapes. Discover gems like the serene Lake Champlain and bustling Church Street Marketplace in this truly captivating city.

### 2. San Diego, California
Experience San Diego, the sun-soaked gem of Southern California. Its year-round perfect weather, stunning beaches, and dynamic food scene make it a top U.S. destination. Be sure to visit Balboa Park, the San Diego Zoo, and the Gaslamp Quarter in this vibrant city.

### 3. Washington, D.C.
Washington, D.C., the epicenter of U.S. heritage, is a haven for those seeking knowledge-packed adventures. Its museums and federal buildings attract visitors from all over. Navigate the city’s clean subways, savor delicious food, and explore iconic landmarks like the Smithsonian Institution and the U.S. Capitol.

### 4. Chicago, Illinois
Dubbed “The Windy City,” Chicago offers an enticing blend of culture, history, and vibrant city life. Visitors often rank it as a top U.S. destination due to its captivating architecture, diverse food scene, and lively arts sector. The iconic Navy Pier, Millennium Park, and the Art Institute of Chicago are must-visit favorites.

### 5. Savannah, Georgia
Savannah, renowned for its beauty and charm, exudes an ambiance of historic elegance. Its captivating blend of Southern hospitality, rich history, and architectural grandeur makes it a top choice for travelers. Be sure to visit enchanting Forsyth Park, charming River Street, and the Savannah Historic District.

### 6. Portland, Maine
Portland boasts picturesque coastal beauty, an engaging arts scene, and abundant seafood delights. The city lures visitors with its friendly atmosphere, historic charm, and stunning harbor views. Must-see attractions include the vibrant Old Port district, charming lighthouses, and scenic Casco Bay.

### 7. Santa Barbara, California
Often dubbed the “American Riviera,” Santa Barbara exhibits a delightful fusion of Spanish colonial charm and stunning Pacific coastlines. Visitors favor it for its ideal climate, refined wineries, and stunning beach scenery. Don’t miss the iconic Santa Barbara Mission, picturesque Stearns Wharf, and the lively Funk Zone.

### 8. Monterey, California
Nestled along California’s coastline, Monterey is famed for its delectable seafood, renowned aquarium, and inviting climate. Its unique fusion of natural splendor and maritime attractions appeals to tourists, making it a top U.S. destination. Highlights include the world-class Monterey Bay Aquarium, energetic Fisherman’s Wharf, and the breathtakingly scenic 17-Mile Drive.

### 9. Traverse City, Michigan
This charming locale nestled on Michigan’s Grand Traverse Bay captivates with natural beauty and warm hospitality. Due to its serene beaches, cherry orchards, and thriving culinary scene, it is a beloved pick among top U.S. destinations. Visitors enjoy the picturesque Traverse City State Park, charming Front Street, and the historic Mission Peninsula Vineyards.

### 10. Charleston, South Carolina
Charleston is renowned for its historic charm and coastal allure, presenting a city enriched with Southern hospitality. Its refined elegance, notable cuisine, and historic landmarks make it a preferred choice among U.S. destinations. People are drawn to the historic French Quarter, the stunning Battery seawall and promenade, and the vibrant Charleston City Market.

### 11. Detroit, Michigan
Known as the “Motor City,” Detroit is a fascinating city steeped in rich industrial history and culture. It often surprises visitors with its vibrant downtown and rejuvenated neighborhoods, defying its tough reputation. Highlights include the bustling downtown scene, the Detroit Institute of Arts, and the historic Motown Museum.

### 12. Honolulu, Hawaii
Hawaii’s vibrant capital city exudes a laid-back island atmosphere with urban refinement. Its stunning natural beauty and luxurious beachfront resorts attract visitors. People are drawn to iconic Waikiki Beach, the magnificent Diamond Head crater, and the captivating Polynesian Cultural Center.

### 13. Flagstaff, Arizona
Surrounded by picturesque landscapes, Flagstaff offers visitors a refreshing blend of nature and urban adventures. Its proximity to the Grand Canyon and lively downtown scene make it a preferred choice among top U.S. destinations. Enchanting spots such as the Walnut Canyon National Monument, Lowell Observatory, and historic Route 66 draw people to the city.

### 14. Boston, Massachusetts
Boasting a rich history, Boston is one of America’s oldest cities known for its vibrant culture and academic intellect. Its historic significance and unique culinary delights make it a favorite in the U.S. Favored spots include the Freedom Trail, bustling Quincy Market, and the serene Boston Common.

### 15. Sedona, Arizona
In the heart of Arizona, Sedona enchants with stunning red rock landscapes that seem picture-perfect. Its extraordinary natural beauty and spiritual atmosphere make it one of the favorite U.S. destinations. Attractions like the Chapel of the Holy Cross, Bell Rock, and mesmerizing hiking trails draw visitors in abundance.

### 16. Seattle, Washington
Seattle fuses modern charm with natural beauty, making it a vibrant and dynamic city. Its mix of iconic landmarks, a thriving tech scene, and artistic gifts make it a top choice among U.S. destinations. Key attractions include the famed Space Needle, bustling Pike Place Market, and the serene waterside views of Puget Sound.

### 17. Duluth, Minnesota
Nestled on the shores of Lake Superior, Duluth presents a harmonious blend of natural beauty and metropolitan elegance. Its panoramic lake views, adventure-filled outdoor activities, and friendly community make it a top U.S. destination. Popular spots include Canal Park, Spirit Mountain for skiing and mountain biking, and the Great Lakes Aquarium.

### The 34 Best Places to Visit in the U.S.

The United States is a massive country with a vast array of cultures, ecosystems, and historical landmarks. With so much happening across such a large nation, choosing where to go can be challenging. Whether you’re into scenic nature, bustling cities, or rich history, the best places to visit in the U.S. offer something for everyone. Explore these destinations and discover your next unforgettable adventure!
https://radicalfire.com/top-us-destinations/

Fatal Frame 2: Crimson Butterfly Remake is coming out in March

Koei Tecmo has announced that **Fatal Frame II: Crimson Butterfly Remake** will launch on **March 12, 2026**. This highly anticipated remake of the horror classic promises enhanced visuals and several gameplay improvements.

One of the key updates includes greater control over the game’s integral camera system. Players will now be able to zoom and focus more effectively, providing a more immersive and precise experience as they navigate the eerie world of Fatal Frame II.

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https://www.thesixthaxis.com/2025/11/11/fatal-frame-2-crimson-butterfly-remake-is-coming-out-in-march/

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