Nvidia soars: All eyes were on Nvidia’s earnings report after the market closed yesterday, and the company did not disappoint. The chip giant posted record Q4 revenue of $22 billion, an eye-popping 265% increase from the same quarter the prior year. Though the stock has been slipping off highs over the past few days, and dipped briefly after the earnings report, it jumped back up by as much as 10% after hours. How it opens today could be a signal of Wall Street’s enthusiasm for AI, as well as a broader measure of how the market–and our 401(k)s–might perform over the next few months. Full story.
Amazon lands a spot on the Dow: Amazon will replace Walgreens’ on the Dow Jones Industrial Index next Monday, as Walmart (a competitor for both) plans to split its shares 3-to-1 this Friday. Since the Dow (DJIA) contains just 30 companies, one had to be removed in order for Amazon to join. The third tech giant to join the Dow, Amazon’s introduction represents the tech industry’s growing impact on the U.S. economy. Full story.
Apple’s answer to quantum computing: On Wednesday, Apple announced a new encryption technology, the PQ3, set to launch on Apple’s iMessages next month. PQ3 is designed to protect against hackers who will eventually be able to use quantum computing to hack the end-to-end encryption tech currently used to safeguard messaging apps. Apple says the PQ3 is the first of many security measures set to roll out ahead of quantum’s anticipated upheaval of computing as we know it. Full story.
Reddit to reportedly offer users IPO shares: As Reddit nears its IPO, it plans to designate “a big chunk” of its IPO shares for its most active users, according to The Wall Street Journal. While IPO prices are typically only available to top investors, Reddit will reportedly offer those shares to around 75,000 users. The social media giant appears likely to go public in March after first filing for its IPO back in December 2021. Full story.
Boeing 737 Max leadership change: In a memo to employees on Wednesday, Boeing announced that Ed Clark, the head of its 737 Max planes, is leaving the company immediately. Clark’s departure comes a month after an incident aboard a 737 Max 9 prompted the company to begin investigating and overhauling its inspection process. Clark oversaw production at Boeing’s factory in Renton, Wash., since 2021. Full story.
Odysseus lunar landing: Intuitive Machines, a space-exploration company partnered with NASA, hopes a successful lunar lander from Odysseus (or “Odie”) will make it America’s first moon landing since the Apollo 17 mission in 1972. Odie is expected to land on the moon’s south pole at 5:49 p.m. ET today, and NASA will livestream the lander’s progress. Full story.
