NVIDIA REVENUE GROWTH
Zepto CEO Aadit Palicha's interview; Lisa Su on AMD's India plans
Happy Friday! Zepto CEO on growth, cash burn, foreign ownership and impact on kiranas. This and more in today¡¯s ETtech Morning Dispatch.
Wall Street closes higher as Dow, S&P hit one-week tops
Wall Street's main indexes ended higher after fluctuating trading. The Dow and S&P 500 reached one-week highs. Salesforce's stock rose after price target increases from brokerages. Nvidia's shares saw a modest increase following strong earnings. Alphabet's stock declined after the Justice Department's antitrust lawsuit. Jobless claims fell unexpectedly last week.
Asian stocks, Bitcoin up after Wall Street climbs
?Shares in Australia and Japan advanced. An index of US-listed Chinese stocks fell 1% Thursday, running against the grain of trading in New York but partly reflecting selling in Hong Kong stocks in their most recent session.
US stocks mixed after jobless claims data, Nvidia results; Alphabet weighs
Wall Street experienced mixed trading as Alphabet's stock fell due to antitrust concerns, while Nvidia's strong earnings report boosted investor confidence. Despite Nvidia's positive performance, concerns about slowing growth tempered enthusiasm. Meanwhile, jobless claims fell, suggesting potential job growth, while geopolitical tensions and inflation concerns continued to weigh on market sentiment.
Mamaearth vs distributors; PharmEasy¡¯s financials
Honasa Consumer, Mamaearth's parent, addressed recent allegations, labelling them as "misinformation." This and more in today¡¯s ETtech Top 5.
Nvidia tops Q3 on strong AI demand, but slowing growth hits stock
Nvidia posted earnings per share (EPS) of $0.81 on revenue of $35.1 billion, far exceeding analysts prediction of $0.74 EPS on $33.2 billion in revenue. While the quarter¡¯s earnings surged 94% YoY, this was lower than the red-hot 260% clocked a few quarters ago. Hence, the stock fell.
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European shares edge lower, tech stocks drag after Nvidia's disappointing forecast
The pan-European STOXX 600 index edged down 0.1%, as of 0820 GMT, on track for its fifth straight session of declines amid uncertainties around the escalating Ukraine-Russia conflict and the likely domestic impacts of Donald Trump's U.S. Presidential victory.
Nvidia's AI chip demand still booming but slowing sales growth worries investors
Nvidia, the world's most valuable firm, predicted its slowest revenue growth in seven quarters, falling short of investor expectations. Despite exceeding initial sales projections for its new AI chips, supply chain issues and high demand are impacting the company's growth and margins. While Nvidia's third-quarter earnings surpassed estimates, its data center segment experienced slower growth.
Nvidia is Wall Street's most valuable company. How it got there, by the numbers
Nvidia surpassed Wall Street predictions, reporting doubled revenue due to high demand for its semiconductors used in AI. The company anticipates further growth. Nvidia's market value reached $3.579 trillion, regaining the top position in the S&P 500. Its data center business revenue surged by 112%. Analysts project Nvidia's revenue to reach $126.5 billion by fiscal year 2025.
Nvidia is Wall Street's most valuable company: how it got there, by the numbers
Revenue nearly doubled in the latest quarter from the same period a year earlier, Nvidia reported Wednesday. The company expects further revenue growth in the current quarter that ends in January.
Wall Street ends mixed, Nvidia shares slip after the bell
The Nasdaq dipped on Wednesday, halting its previous rally, as investors reacted to heightened Russia-Ukraine tensions and disappointing Target earnings. Meanwhile, the Dow and S&P 500 saw modest gains. Market sentiment was also influenced by anticipation surrounding Nvidia's earnings, which were released after the closing bell.
Nvidia's AI chip demand still booming but slowing sales growth worries investors
The stock has nearly quadrupled so far this year and is up more than ninefold over the last two years, giving it a market value of $3.6 trillion. Nvidia is in the middle of launching its powerful Blackwell family of AI chips, which will weigh on the company's gross margins initially but improve over time.
Nvidia's options primed for $300 billion price swing after earnings
According to data from options analytics service ORATS, Nvidia options predicted an 8.5% swing in either direction for the shares which will be announced once the markets are closed. This is in keeping with the trend observed in percentage moves over the last 12 quarters.
Wall St Week Ahead-Nvidia results in focus as stock market's election boost stalls
Nvidia's upcoming earnings report is poised to significantly influence the U.S. stock market, as investors seek direction following the recent election rally. The company's dominant position in AI and strong projected growth are expected to impact tech stocks and overall market sentiment.
Foxconn sees net profit rise 14% in Q3 on the back of strong demand for AI servers
The company said that the cumulative revenue of AI servers in the first three quarters of this year grew more than 200% compared to the same period last year, and general server revenue also grew by more than 20%.
AMD to cut 4% of global workforce as it focuses on AI chip development
Revenue in AMD's data center segment, which houses its AI graphics processors, jumped more than two-fold in the September quarter. On the other hand, the personal computer segment grew 29%, while sales in its gaming unit slumped about 69% during the period.
Major Apple supplier Foxconn expected to report strong Q3 results on AI boom
Foxconn's shares have surged more than 100% so far in 2024, far outperforming the broader market's 28% gain. Foxconn said last month it was building in Mexico the world's largest manufacturing facility for bundling Nvidia's GB200 superchips, a key component of the US firm's next-generation Blackwell family computing platform.
US Supreme Court examines Nvidia bid to avoid securities fraud suit
The justices heard arguments in Nvidia's appeal of a lower court's decision allowing a 2018 class action-litigation led by the Stockholm, Sweden-based investment management firm E. Ohman J: or Fonder AB - to proceed. It is one of two cases heard by the Supreme Court this month that could lead to rulings making it harder for private litigants to hold companies to account for alleged securities fraud. The other one, involving Meta's Facebook, was argued on Nov. 6.
Swiggy's market debut; startup listings on Day 1
Swiggy made a strong showing on the bourses today, listing at a premium and topping the 1-lakh crore m-cap mark on debut. This and more in today¡¯s ETtech Top 5.
Larsen & Toubro Engineers Rs 1,300 crore ladder to the cloud
E2E specialises in providing CPU- and GPU-based cloud computing platforms, enabling customers to conduct large-scale general and AI workloads through its relationship with Nvidia.
Facebook, Nvidia ask US Supreme Court to spare them from securities fraud suits
After a trio of Supreme Court rulings in June that weakened federal regulators - including the Securities and Exchange Commission that polices securities fraud - the justices may now be poised to rein in the power of private plaintiffs to enforce federal rules aimed at punishing corporate misconduct.
A year on, Intel's touted AI-chip deals have fallen short
Intel has canceled its $500 million sales forecast for Gaudi AI chips in 2024 due to slower adoption and technical issues. CEO Pat Gelsinger noted challenges but highlighted potential. The company still sees long-term opportunities in AI. Despite the setbacks, Intel's overall third-quarter revenue exceeded expectations, although the company reported significant losses.
US stock market: These three companies' shares are must buy for S&P 500
Apple, Nvidia, and Microsoft's shares in the US stock market have been soaring. Three companies are estimated as top three most valuable firms in the world.
Nvidia CEO targets more India growth through fresh partnerships
India has emerged as a potentially major AI arena, with the country of 1.4 billion adopting the technology in industries including agriculture, education and manufacturing to boost efficiency. While still a small part of their revenue, global tech companies from Nvidia to Microsoft Corp. and Meta Platforms Inc. are betting on the rapidly-growing economy as a growth market and operations base.
TSMC's third-quarter revenue easily beats market forecast
Taiwan Semiconductor Manufacturing Co, whose customers include Apple and Nvidia, has been at the forefront of the march towards AI that has helped it weather the tapering off of pandemic-led demand. Revenue in the July-September period of this year came in at T$759.69 billion ($23.62 billion), according to Reuters calculations, compared with an LSEG SmartEstimate of T$750.36 billion ($23.33 billion) drawn from 23 analysts.
Nvidia, chip stocks waver after previous day's sell-off
Chip companies led by market cap leader Nvidia were set to extend losses on Wednesday after a bruising sell-off in the previous session, reflecting the growing concern on Wall Street over the stocks' lofty valuations as AI optimism cools.
Dell raises forecasts as demand surges for Nvidia powered AI servers
Dell Technologies servers are engineered to handle AI systems' intense computational demands, including training large language models. "Enterprise remains a significant opportunity for us, as many are still in the early stages of AI adoption," Chief Operating Officer Jeff Clarke said in a post-earnings call.
Nvidia fails to impress growth-hungry investors, shares fall
Nvidia's recent quarterly forecast didn't meet high investor expectations, leading to a 6% drop in its shares and affecting other chipmakers. Despite robust growth and a $50 billion share buyback, concerns remain about the long-term viability of generative AI and regulatory scrutiny. Nvidia's forecast for the coming quarter was close to analysts¡¯ estimates.
Nvidia sales likely doubled - even that may not impress investors
Nvidia's second-quarter revenue saw a notable rise amidst high investor expectations. The company's stock surged over 150% this year, driven by AI-related demand. However, concerns around production delays, regulatory restrictions on chip sales to China, and potential antitrust investigations could impact future growth. Investors closely monitored these developments.
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