John Ruich
👤 SpeakerAppearances Over Time
Podcast Appearances
It makes the world's most popular chips for training and deploying AI models.
CEO Jensen Huang said demand has, quote, gone parabolic.
That's because AI is now doing more productive and valuable tasks through agents or programs that can operate semi-autonomously.
Huang's bullishness aside, NVIDIA is under intense pressure to maintain its soaring growth rate.
Despite the better-than-expected earnings, the company's share price slipped in after-hours trading.
Meta flagged the job cuts last month, and a company spokesperson said affected employees were notified on Wednesday.
The parent company of Facebook and Instagram has been retooling and investing heavily in artificial intelligence.
It expects to spend nearly twice as much on capital expenditures this year as it did last year, and much of that will go into its efforts to catch up to rivals in the AI race.
The job cuts and reorganization come at a challenging time for Meta.
Earlier this year, it lost two court cases claiming its platforms have been harmful to children and young people's mental health.
And in June, it'll return to court to face school districts suing over claims that social media companies caused a costly mental health and addiction crisis among students.
According to the White House, more than a dozen top U.S.
executives will be on the trip this week, including Apple's Tim Cook, Boeing CEO Kelly Orteg, and Elon Musk of Tesla and SpaceX fame.
Musk also co-led Trump's Department of Government Efficiency early in his second term.
There are financiers in the group, too, from BlackRock, Blackstone, Citigroup, and Goldman Sachs.
This trip will be the first to China by a U.S.
president since Trump visited during his first term nearly nine years ago.