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Nvidia's Earnings and Apple's DOJ Case | Bloomberg Technology

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Nvidia's Earnings and Apple's DOJ Case | Bloomberg Technology

NVIDIA Earnings Report

  • NVIDIA is set to report earnings after the closing bell, with high expectations for continued year-on-year topline growth exceeding 200%.
  • Demand signals, commentary from hyperscalers, news about AI startups, and discussions on AI are key indicators to watch for assessing NVIDIA's performance.
  • Analyst Mendeep Singh expects NVIDIA to guide to $25 billion in data center revenue, higher than consensus estimates.
  • The sustainability of triple-digit growth is a concern due to tougher comparisons in the second half of the year, but sustaining high double-digit growth depends on NVIDIA's position as a major player in the AI industry.
  • The market is currently undersupplied for AI training, leading to strong demand for NVIDIA's H100 chips despite the upcoming release of the Blackwell series later in the year.
  • NVIDIA has a significant exposure to hyperscalers, with a 50% revenue dependence on a concentrated group of five to six customers.
  • NVIDIA's inability to sell its latest chips to the Chinese market could negatively impact the company's near-term prospects.

Ether ETF and Cryptocurrency Market

  • The SEC's instruction to update regulatory findings related to a spot Ether ETF has surprised the market and led to a surge in Ether's price.
  • Bloomberg Intelligence raised its probability of an Ether ETF approval, further contributing to the market's positive reaction.
  • Jack, a Bitcoin advocate, believes the push for a spot Ether ETF is driven by banks and Wall Street's desire to make money in the crypto market.
  • Traditional financial institutions are struggling due to low bond yields and are looking to cryptocurrencies as a potential source of revenue.
  • There is a debate about whether the SEC or another regulatory body should oversee cryptocurrencies.
  • Concerns exist about the potential involvement of staking in a spot Ether ETF, which could limit its investment opportunities.
  • Ethereum is widely used as a blockchain technology, but it is not a monetary asset like Bitcoin.
  • The market needs to sort out what Ethereum actually is and how to value it.

UK General Election

  • UK Prime Minister Rishi Sunak is likely to call a general election for July, sooner than expected.
  • The Conservatives trail the opposition Labour Party in opinion polls, and Sunak faces a difficult domestic economic picture that will influence voters' minds.
  • Inflation data came in higher than anticipated, showing that inflation is entrenched.
  • The Bank of England may not make a rate cut in June as previously expected, which could make it easier for Sunak to call an election.
  • Rachel Reeves, the Shadow Chancellor from the opposition Labor party, has been making promises about increasing government spending in areas like healthcare and pensions, which could potentially impact the UK economy.
  • The IMF has warned that increasing government spending or decreasing taxes could strain the UK economy, which recently emerged from a recession in the first quarter.
  • The UK general election is anticipated to be held on July 4, with an announcement from the Prime Minister expected later in the afternoon.

US Stock Markets and Company News

  • The US stock markets are experiencing a wait-and-see approach, with the tech-heavy Nasdaq 100 holding onto gains ahead of key earnings reports.
  • Apple is planning to challenge the DOJ's case against the company, seeking to dismiss the lawsuit and avoid a lengthy legal battle.
  • Salesforce is launching Einstein Copilot for merchants and marketers, aiming to help companies personalize customer engagement using their own trusted data.
  • Scale AI, a startup that helps top tech companies use AI products, has raised $1 billion in one of the largest financing deals of the year, valuing the company at nearly $40 billion.
  • DeepL, an AI language solutions company, provides translation capabilities that go beyond simple translation, focusing on accuracy, quality, and language fluency.
  • Jensen Huang, the CEO of NVIDIA, believes that AI will transform gaming.

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