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Nvidia's quarterly earnings exceeded expectations, with revenue reaching $30 billion, a 122% increase year-over-year. Despite strong performance, shares fell 3% in after-hours trading due to a forecasted gross margin that may miss market estimates. The company continues to dominate the AI chip market, holding approximately 80% of the sector.
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Nvidia employees face intense pressure with long hours and frequent meetings, yet many remain due to lucrative stock compensation. Meanwhile, Intel's board faces upheaval after a poor quarterly report, and Huawei hints at a potential breakthrough in chip design amid ongoing sanctions.
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ByteDance has refuted claims of developing semiconductors to reduce reliance on Nvidia. The company stated its semiconductor initiatives are in early stages, focusing on cost optimization rather than mass production. This follows reports of potential collaboration with TSMC to produce advanced chips amid ongoing U.S.-China tech tensions.