Instant Reaction: Nvidia Gives Lukewarm Forecast, Stoking Fears of AI Slowdown
Nvidia, the world’s most valuable publicly traded company, gave a tepid revenue forecast for the current period, fueling concerns that a massive run-up in artificial intelligence spending is slowing. Sales will be roughly $54 billion in the fiscal third quarter, which runs through October, the company said in a statement Wednesday. Though that was in line with the average Wall Street estimate, some analysts had projected more than $60 billion. The forecast excluded data center revenue from China, a market where it has struggled with US export restrictions and opposing pressure from Beijing.The outlook adds to concern that pace of investment in artificial intelligence systems is unsustainable. The difficulties in China also have clouded Nvidia’s business. Though the Trump administration recently eased curbs on exports of some AI chips to that country, the reprieve hasn’t yet translated into a rebound in revenue.For instant reaction and analysis, hosts Tim Stenovec and Isabelle Lee speak with: Bloomberg Intelligence Global Head of Technology Research Mandeep Singh Bloomberg News Big Tech Team Leader Sarah Frier Jay Goldberg, Senior Analyst, Semiconductors & Electronics with Seaport Research Partners See omnystudio.com/listener for privacy information.
--------
19:18
--------
19:18
Trump May Extend Influence to Fed Banks; SpaceX Deploys Satellites in Space
On today's podcast: 1) The Trump administration is reviewing options for exerting more influence over the Federal Reserve’s 12 regional banks that would potentially extend its reach beyond personnel appointments in Washington, according to people familiar with the matter.2) SpaceX’s Starship rocket launched to space and deployed satellites for the first time before surviving most of its journey to Earth, achieving new technological milestones after a year of fiery setbacks. 3) European stocks gained as investors await Nividia Corp.’s update on the artificial intelligence boom that has powered equity gains this year.See omnystudio.com/listener for privacy information.
--------
15:58
--------
15:58
Trump Moves to Fire Fed Governor Cook; Trump Latest Tariff Threat
On today's podcast: 1) President Trump moves to fire Lisa Cook, but the Fed Governor says she's not going anywhere. It follows allegations that she falsified mortgage documents, citing "sufficient cause" to fire her. Cook said Trump has no authority to fire her, and she won't quit, with her lawyer planning to take "whatever actions are needed to prevent" Trump's "illegal action."2) The president issues a new trade threat against countries with digital services taxes. President Trump threatened to impose fresh tariffs and export restrictions on advanced technology and semiconductors in retaliation against other nations’ digital services taxes. Trump said these taxes "are all designed to harm, or discriminate against, American Technology" and give a pass to China's largest tech companies.3) French stocks fall as the country's Prime Minister calls a confidence vote. F2rench assets are under pressure due to concern the government will fall in a showdown over proposed budget cuts, according to Bloomberg.See omnystudio.com/listener for privacy information.
--------
15:46
--------
15:46
Instant Reaction: Trump Moves to Fire Fed's Lisa Cook
President Donald Trump moved to oust Federal Reserve Governor Lisa Cook from her post at the US central bank in the wake of allegations from a White House ally that she falsified documents on mortgage applications. “The American people must be able to have full confidence in the honesty of the members entrusted with setting policy and overseeing the Federal Reserve,” Trump wrote in a letter sent to Cook on Monday, which he posted on Truth Social. “In light of your deceitful and possibly criminal conduct in a financial matter, they cannot and I do not have such confidence in your integrity.” Presidents can remove Fed governors from office, but only for cause. Laws that describe “for cause” generally define the term as encompassing three possibilities: inefficiency; neglect of duty; and malfeasance, meaning wrongdoing, in office. For instant reaction, host Doug Krizner speaks with Enda Curran, Bloomberg global economy reporter. See omnystudio.com/listener for privacy information.
--------
3:48
--------
3:48
Jackson Hole Points to Hard Road Ahead for Powell; Wall Street Awaits Nvidia Earnings
On today's podcast: 1) The Federal Reserve's Jackson Hole symposium was a tense affair, with Chair Jerome Powell signaling an interest-rate cut as soon as the next policy meeting in September, despite clear divisions among policymakers.2) Traders are breathing easier heading into this week after Federal Reserve Chair Jerome Powell indicated that interest rate cuts are coming. The next test for the stock market will be a read on what’s been driving gains for the past few years: artificial intelligence euphoria.3) SpaceX delayed a critical test flight of its massive Starship rocket roughly half an hour before liftoff on Sunday, saying it needed to troubleshoot an unspecified problem with its ground systems. See omnystudio.com/listener for privacy information.
Deutschland