Show and guest
RiskReversal’s Okay Computer (10 November 2026, recorded on 9 November): Guest Gene Munster, co-founder and managing partner of Deepwater Asset Management; host Guy Adami. This article covers 00:32–07:15 (the segment in which Munster discusses key-person risk and capital spending).
Key takeaways
- If Jensen Huang were forced to step down, the stock could fall about 20% (back to its 2024 high of $ 145–150); the market currently prices in about a 25% probability of his departure.1:51
- Munster believes the actual probability of departure is only 10–15%; the market is “acting responsibly,” but its pricing is too high.2:34
- China’s targeting of Jensen Huang illustrates precisely the geopolitical weight of AI leadership—both parties have to build data centers on a large scale in the United States, and Democrats would build even more.4:46
- AI infrastructure stocks such as Coherent surged 17% that day, indicating that the market read the development as an endorsement of data-center construction.5:23
- Capital spending by hyperscalers is up about 80% this year and is expected to be more than 30% higher next year; Wall Street expects growth of only 15% in 2028, while Munster expects 30–40%.6:13
Background and notes
Subtitle coverage note: The video subtitles contain 764 timestamped segments and cover a total duration of 28:03; this article covers only 00:32–07:15. Later sections (the DeepSeek comparison, token pricing, Apple Duo, the Anthropic IPO, and others) are outside the scope of this article. The views and timestamps in the text are paraphrased from the original subtitles; each timestamp marks the start of the corresponding spoken segment.