Nvidia topped revenue and earnings expectations in its latest quarter, but the stock ticked downward in extended trading Wednesday as investors maintained high expectations for the AI darling. Why it matters: The stock is widely considered a bellwether for the health of the broader AI economy, but lately it has been trailing the broader semiconductor sector in market gains. Zoom in: Nvidia posted revenue of $96.2 billion, more than doubling its year-earlier showing, while net income jumped 126% to $59.7 billion. - That exceeded S&P Capital IQ expectations of $92.1 billion in revenue and $51.2 billion in earnings for the period ended July 26. - Revenue from data centers — Nvidia's largest source of sales — rose 117%, to $89 billion. …
Nvidia topped revenue and earnings expectations in its latest quarter, but the stock ticked downward in extended trading Wednesday as investors maintained high expectations for the AI darling. Why it matters: The stock is widely considered a bellwether for the health of the broader AI economy, but lately it has been trailing the broader semiconductor sector in market gains. Zoom in: Nvidia posted revenue of $96.2 billion, more than doubling its year-earlier showing, while net income jumped 126% to $59.7 billion. - That exceeded S&P Capital IQ expectations of $92.1 billion in revenue and $51.2 billion in earnings for the period ended July 26. - Revenue from data centers — Nvidia's largest source of sales — rose 117%, to $89 billion. …Open
The offering could value the five-year-old A.I. start-up at $2 trillion, its bankers have told potential investors, which would exceed Elon Musk’s SpaceX.
Data centers have become the face of AI backlash, with celebrities, politicians and protesters pushing to slow their growth. Why it matters: America's sharply rising public opposition to data centers — which fuel our everyday use of the internet — could pose an existential threat to AI's growth. State of play: There are at least 4,000 data centers nationwide, with some 3,000 under construction or planned. - The centers are often big, windowless warehouses with few people in sight, and many are developed in secrecy . Driving the news: Data centers have become a focus of anti-AI sentiment, with 70% of Americans opposing their construction. - Former NFL star Jason Kelce announced a partnership between his Garage beer company and…
Data centers have become the face of AI backlash, with celebrities, politicians and protesters pushing to slow their growth. Why it matters: America's sharply rising public opposition to data centers — which fuel our everyday use of the internet — could pose an existential threat to AI's growth. State of play: There are at least 4,000 data centers nationwide, with some 3,000 under construction or planned. - The centers are often big, windowless warehouses with few people in sight, and many are developed in secrecy . Driving the news: Data centers have become a focus of anti-AI sentiment, with 70% of Americans opposing their construction. - Former NFL star Jason Kelce announced a partnership between his Garage beer company and…Open
Data: U.S. Bureau of Labor Statistics via FRED ; Chart: Emily Peck/Axios Memory chip prices are skyrocketing, thanks to AI demand, and there's no end in sight. Why it matters: "Chipflation" is pushing up the prices for electronic goods like smartphones and laptops, as well as the costs for cloud storage and hardware — it also helps explain the eye-popping ascents in semiconductor stock prices. - While the overall effect on inflation may not be huge — other kinds of products get more weight in the government's measure of consumer prices — the scale of this boom is unprecedented. By the numbers: The Producer Price Index for electronic components and accessories, which measures what companies pay for semiconductor chips and other…
Data: U.S. Bureau of Labor Statistics via FRED ; Chart: Emily Peck/Axios Memory chip prices are skyrocketing, thanks to AI demand, and there's no end in sight. Why it matters: "Chipflation" is pushing up the prices for electronic goods like smartphones and laptops, as well as the costs for cloud storage and hardware — it also helps explain the eye-popping ascents in semiconductor stock prices. - While the overall effect on inflation may not be huge — other kinds of products get more weight in the government's measure of consumer prices — the scale of this boom is unprecedented. By the numbers: The Producer Price Index for electronic components and accessories, which measures what companies pay for semiconductor chips and other…Open
The agent exploited vulnerable code written by a customer that was hosted on Modal's platform. Through its vulnerable code, the customer had, according to Modal, done the equivalent of leaving a door open on the internet.
Poor morale among employees is contributing to delayed model releases from Google's DeepMind AI lab , according to conversations with half a dozen current and former Google DeepMind employees. Why it matters: As the company's cash flow just turned negative, investors and competitors are questioning Google's standing in the AI race. State of play: Google's Gemini 3.5 Pro, its most powerful model in the works, is months behind, per Bloomberg , but the company did just release a series of smaller , more efficient models, garnering mixed reactions. - Top executives from competing AI labs were quick to shade the releases, with Meta's Alexander Wang saying "Gemini who?" on X , and others asking top Google leadership when more powerful models…
Poor morale among employees is contributing to delayed model releases from Google's DeepMind AI lab , according to conversations with half a dozen current and former Google DeepMind employees. Why it matters: As the company's cash flow just turned negative, investors and competitors are questioning Google's standing in the AI race. State of play: Google's Gemini 3.5 Pro, its most powerful model in the works, is months behind, per Bloomberg , but the company did just release a series of smaller , more efficient models, garnering mixed reactions. - Top executives from competing AI labs were quick to shade the releases, with Meta's Alexander Wang saying "Gemini who?" on X , and others asking top Google leadership when more powerful models…Open
Google’s parent company, which has spent heavily on artificial intelligence, also showed growth across its businesses, particularly in cloud computing.