Data: S&P Capital IQ Pro; Chart: Erin Davis/Axios Visuals Nvidia made billions selling AI's essential ingredient: chips. - Now it's plowing those riches straight back into the AI ecosystem, betting on a buildout that craves ever more compute. Why it matters: Nvidia has become the AI industry's supplier, banker and kingmaker, feeding a self-reinforcing cycle in which chip profits finance the next wave of chip demand. State of play: Already the world's most valuable company, Nvidia is now worth more than five of the 11 sectors that make up the S&P 500. - The chipmaker reported nearly $60 billion in quarterly profit Wednesday, prompting The Kobeissi Letter to call the results "the most impressive earnings in history." - Nvidia believes…
Europe's landmark AI law has moved from an idea to enforcement. Why it matters: Brussels will soon learn whether it can turn its sweeping AI rulebook into regulation that companies can actually follow—and if it can become a global benchmark for AI standards. Driving the news: A major enforcement deadline arrived Aug. 2 . - Most notably, new transparency and disclosure requirements are in effect for chatbots and AI-generated content. - Europe's AI Office has not gone after any companies covered under the law for misconduct yet, but it can now request information from companies or ask for access to models. What they're saying: "This is a messy piece of legislation," Patrick Van Eecke, a partner at Cooley in Brussels who advises…
A feud between the Pennsylvania governor and health secretary sparked by this week's reports of measles-related deaths laid bare the increasingly polarized politics of public health.
The Iran war has become a major feature of Trump’s second term, buffeting his standing with voters at home and eroding the U.S. position in the Middle East.
The Iran war hits its six-month mark Friday, with President Trump's path to ending it increasingly unclear. Why it matters: Trump entered the war projecting a four- to five-week military campaign. Six months later, his proposed exits have ranged from military victory to a negotiated peace deal tied to reopening the Strait of Hormuz . - Now, the war centers on an open-ended economic squeeze of Iran. Meanwhile, the U.S. is moving increasing amounts of oil out of the strait, reducing Iran's leverage. State of play: The war is in flux. Iran and Oman are discussing a framework to restore safer commercial passage through the Strait of Hormuz, while regional mediators push for a broader off-ramp. - There are no ongoing talks between the…
The death toll continues to climb two days after flash flooding obliterated parts of the Nepal-Tibet border region on Wednesday, with at least 469 bodies recovered.