Nvidia, AI and Asian Shares
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Nvidia, stock
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Michael Burry of "The Big Short" fame once again went after Nvidia over its chips' longevity, its stock dilution, and "give-and-take deals" in AI.
The smugglers are facing decades in prison for an alleged conspiracy that involved routing highly coveted chips through Malaysia and Thailand.
Peter Thiel's Thiel Macro sold all 537,742 Nvidia shares it had, which were valued almost $100 million at the end of the quarter. SoftBank Group is selling its whole 32.1 million-share holding in Nvidia for around $5.8 billion and using that money to make big expenditures on OpenAI and AI infrastructure.
Nvidia shares were initially up after an earnings report that included raised revenue guidance for the next quarter. But shares closed 3% lower.
Nvidia’s sales of the computing chipsets powering the artificial intelligence craze surged beyond the lofty bar set by stock market analysts in a performance that may ease recent jitters about a Big Tech boom turning into a bust that topples the world’s most valuable company.
Wall Street forecasts another booming quarter of growth for Nvidia’s AI chip business. Here are the crucial numbers to watch when the tech giant releases results after the market close on Wednesday: Revenue: Expected to rise 56% from a year earlier to $54.
Nvidia's record quarter and CEO Jensen Huang's comments spotlight high expectations, AI bubble concerns, and the company's market-shaking influence.