Nerves around Nvidia as investors await the outcome of Board's crisis CEO meeting

This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.Hello, this is Leonie Kidd with today's edition of Morning Squawk. No news is not good news for Nvidia this Thursday.The shares are back under pressure as investors await the outcome of a crisis board meeting... Happening now: Hanging in the balanceNvidia's board met overnight to decide whether to oust CEO Jensen Huang. So far, no outcome has been announced from those talks. Investors are on tenterhooks, with shares sinking around 5% in premarket trading.Here are some of the latest developments:Second affair: The New York Times reported that Huang had another extramarital affair with Nvidia's Vice President of Healthcare, Kimberly Powell. Document preservation: The office of Sen. Elizabeth Warren, (D) Massachusetts, has asked the Trump administration to preserve all documents related to Nvidia's exports of advanced AI chips to China. Musk's comment: Elon Musk has said it would be "an honor" to hire Jensen Huang, in response to an X post encouraging him to do so.The market pressure is building, with several analysts turning more bearish on the stock: Bernstein: slashes price target to $200 from $400, cuts to market-perform.Yorkville Ives: Nvidia with Jensen as CEO is $300 per share, without is $225. Baird: cut price target to $200 from $500, downgrading to neutral. Morgan Stanley: removes stock from "Top Pick" list. Wells Fargo: cut to $300 from $315, maintain at overweight.Citi: $285 from $315, maintain buy rating. Political pressure is also building:Coming up: "Squawk Box" will speak to Sen. Kevin Cramer, (R) North Dakota, who has called on Jensen Huang to resign. Catch that interview at 730 a.m. ET. Jensen Huang, co-founder, president and CEO of Nvidia, gestures during a press briefing in Paris on Oct. 13, 2026.Joel Saget | AFP | Getty ImagesBig Movers: Neoclouds on the horizonNasdaq futures are under pressure, underperforming the Dow and S&P. Nvidia is dragging on the technology sector, but AMD and Broadcom are gaining in early trade.Investors may be hoping for a CoreWeave effect from Nebius, after the former neocloud firm jumped over 24% during Wednesday's session, supporting the Nasdaq.Neocloud shares are higher in premarket trading, but CoreWeave is pulling back, down 7% after those huge gains yesterday. Analysis: CNBC's Jason Gewirtz describes Nebius as a battleground stock, currently down 50% from its June highs even after Wednesday's rally. Earnings break before the bell this morning. Sectornomics: Lap of luxuryBurberry is back. The luxury British retailer is topping the London market with a 6% jump in the share price.This is after Burberry sales surprised to the upside in the second quarter, as the group's turnaround gathers pace. Why it matters: Burberry returned to the FTSE 100 in 2025 after dropping out of London's main index. Its strategy overhaul has helped maintain its blue-chip status. China comeback: Burberry cited strength in China despite the challenging environment, which could support its luxury peers.CNBC will have more from the beauty space with an exclusive interview with Estée Lauder CEO Stéphane de la Faverie, who joins "Squawk on the Street." People walk by the Burberry store on East 57th Street during Memorial Day weekend on May 25, 2025 in New York City.Craig T Fruchtman | Getty Images Entertainment | Getty ImagesGet Morning Squawk directly in your inboxMidterms: Mississippi turns blueDemocrat Scott Colom has won the U.S. Senate race in Mississippi over Republican incumbent Sen. Cindy Hyde-Smith, the Associated Press reported on Wednesday evening.He becomes the first Black senator from Mississippi since the post-Civil War Reconstruction Era.Senate: Democrats now have a majority of at least 55 seats in the Senate, having flipped at least eight seats from Republicans. Data center view: Colom has pledged to push for a pause on new data center construction until the companies agree to pay for their own power and water.District Attorney and Democratic Senate candidate Scott Colom speaks during a news conference at the Hinds County Sheriff's Office, Nov. 10, 2026 in Jackson, Mississippi. Brandon Bell | Getty ImagesAnd Finally...The world's super-rich are piling into alternative investmentsThe world's wealthiest investors are increasingly looking beyond stocks and bonds, pouring money into hedge funds, private equity and infrastructure assets, as market volatility and fears about stubborn inflation spur diversification.From Asian billionaires to global family offices, alternative investments are becoming a bigger part of portfolios once dominated by traditional assets, industry watchers said.The Daily Dividend— NBC's Jason Gewirtz, April Roach, Dan Mangan and Lee Ying Shan contributed to this report.Jack Sommers edited this edition.