My top 10 things to watch Thursday, May 23 1. All things Nvidia . Our “own it, don’t trade it” Club stock name far exceeded sky expectations on the top and bottom lines Wednesday after the bell. The AI leader also delivered a big revenue guide and a broader vision from CEO Jensen Huang. The company sees automotive, specifically self-driving, as a huge vertical this year, noting Tesla’s use of AI infrastructure for its efforts. After that will be cloud service provider (CSP) partners and maybe rental companies like Snowflake . 2. Self-driving cars must recognize a stop sign even…
Author: insighter
Long before generative AI’s boom, a Silicon Valley firm contracted to collect and analyze non-classified data on illicit Chinese fentanyl trafficking made a compelling case for its embrace by U.S. intelligence agencies. The operation’s results far exceeded human-only analysis, finding twice as many companies and 400% more people engaged in illegal or suspicious commerce in the deadly opioid. Excited U.S. intelligence officials touted the results publicly — the AI made connections based mostly on internet and dark-web data — and shared them with Beijing authorities, urging a crackdown. One important aspect of the 2019 operation, called Sable Spear, that has not previously…
Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. In this episode: Writer, producer, and actor Felicia Day shares her financial journey working in Hollywood, with tips for managing your budget when gigs are inconsistent.What Is Your Time Worth?: How do you value your time outside of work? How can you manage finances in an unpredictable career like acting? Hosts Sean Pyles and Sara Rathner discuss the concept of time valuation to help you understand how to balance personal worth against income. They begin with a discussion of time valuation, offering insights on the average hourly…
Co-founder, CEO and chairman of Baidu, Robin Li attends the Viva Technology show at Parc des Expositions Porte de Versailles on May 22, 2024 in Paris, France. Viva Technology, the biggest tech show in Europe but also in a unique digital format, for 4 days of reconnection and relaunch thanks to innovation. The event brings together startups, CEOs, investors, tech leaders and all of the digital transformation players who are shaping the future of the Internet. Chesnot | Getty ImagesPARIS — Robin Li, CEO of one of China’s biggest tech firms Baidu, said artificial intelligence that is smarter than humans is…
Markets breathed a sigh of relief after Nvidia’s long-anticipated earnings report comfortably beat expectations, with revenue up an eye-watering 262% from last year, sending its share price to an all-time high of $1,017 after market close. Driven by massive AI demand, the chipmaker also announced a 10-to-1 stock split, which will make shares more accessible for retail investors and could boost share prices even more. “The industry is going through a major change,” Nvidia CEO Jensen Huang said on an earnings call Wednesday. “The next industrial revolution has begun. Companies and countries are partnering with Nvidia to shift the trillion-dollar…
Malaysia’s former prime minister Mahathir Mohamad said he and his family members were not involved in any “corrupt practices.”Last month, Malaysia’s Anti-Corruption Commission said Mahathir was among individuals being investigated over a corruption probe that involved his sons, according to Reuters.Mahathir’s sons — Mirzan and Mokhzani — were in January ordered to declare their assets as part of the investigation.”During my time, there was corruption. But I myself was not involved in corrupt practices,” Mahathir told CNBC’s “Squawk Box Asia” on Thursday.”I made sure that even my family cannot be involved in a government business because I might be accused…
U.S. Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., May 1, 2024. Kevin Lamarque | ReutersFederal Reserve officials grew more concerned at their most recent meeting about inflation, with members indicating that they lacked the confidence to move forward on interest rate reductions.Minutes from the April 30-May 1 policy meeting of the Federal Open Market Committee released Wednesday indicated apprehension from policymakers about when it would be time to ease.The meeting followed a slew of readings that showed inflation was more stubborn than…
Union Plus is a nonprofit organization that offers financial products and other benefit programs exclusively to union members and their families. One of its offerings is the Union Plus Credit Card, issued by Capital One. Applicants can choose from one of three versions of the $0-annual-fee card to fit their individual needs. There’s a preapproval process to see if you qualify, with no impact to your credit score. And cardholders may qualify for hardship grants in the case of unexpected life events, like a job loss or hospitalization.Here are five things to know about the Union Plus Credit Card.🤓Nerdy TipThe…
Nvidia Corp., the chipmaker at the center of an artificial intelligence boom, gave another bullish sales forecast, showing that spending on AI computing remains strong. Second-quarter revenue will be about $28 billion, the company said Wednesday. Analysts on average had predicted $26.8 billion, according to data compiled by Bloomberg. Results in the fiscal first quarter, which ran through April, also beat projections. “The next industrial revolution has begun,” Chief Executive Officer Jensen Huang said in a statement, echoing one of his favorite themes. “AI will bring significant productivity gains to nearly every industry and help companies be more cost- and…
Sarinyapinngam | Istock | Getty ImagesA dispute between a fintech startup and its banking partners has ensnared potentially millions of Americans, leaving them without access to their money for nearly two weeks, according to recent court documents.Since last year, Synapse, an Andreessen Horowitz-backed startup that serves as a middle man between customer-facing fintech brands and FDIC-backed banks, has had disagreements with several of its partners about how much in customer balances it owed.The situation deteriorated in April after Synapse declared bankruptcy following the exodus of several key partners. On May 11, Synapse cut off access to a technology system that…
What is an underpayment penalty?An underpayment penalty is a charge the IRS imposes on taxpayers who didn’t pay all of their estimated income taxes for the year or who paid estimated taxes late. You’ll face an underpayment penalty if you:Didn’t pay at least 90% of the tax on your current-year return or 100% of the tax shown on the prior year’s return.Paid your estimated taxes late.If you work for an employer, you may be hit with this penalty because the tax that was withheld from your paycheck during the year didn’t cover your full tax liability. If you’re an independent…
In what was the most anticipated quarter this earnings season, Nvidia far outpaced lofty expectations on the top and bottom lines. Even better was a big revenue guide and a broader vision from CEO Jensen Huang that reinforced the notion that companies and countries are partnering with the AI chip powerhouse to shift $1 trillion worth of traditional data centers to accelerated computing. Revenue for its fiscal 2025 first quarter surged 262% year-over-year to $26.04 billion, well ahead of analysts’ forecasts of $24.65 billion, according to data provider LSEG, formerly known as Refinitiv. The company had previously guided revenue to…