August 27, 2025: Nvidia Disappoints With Tepid Forecast, Japan's Akazawa Cancels US Trip, More
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What is the main topic discussed in this episode?
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News when you want it with Bloomberg News Now, I'm Doug Krisner. After the bell, we heard from the chip maker NVIDIA, and the company issued a cautious outlook for revenue in the current quarter. And this guidance has rattled the market a bit and raised doubt about the pace of overall AI spending. Sales are projected to be around $54 billion, plus or minus 2%. Now, this forecast excludes data center revenue from China, a market where NVIDIA has struggled with U.S. export restrictions, as well as pressure from the Chinese government. The focus now is very much on NVIDIA's next generation of chip. Here is Bloomberg Tech host Caroline Hyde.
They're talking in the statement about Blackwell is the AI platform that the world has been waiting for, delivering on exceptional generation and leap the production of Blackwell Ultra is where he's talking about that ramp of full speed. How much is that bringing in more broadly? But really, this is an overall he says the AI race is on and Blackwell is a platform at its center.
Bloomberg's Caroline Hyde there. Now, at the same time, that unconventional plan from the Trump administration to charge a 15 percent commission on NVIDIA chip sales in China has not progressed beyond the early stages. Here is Bloomberg's Romain Bostic.
I'm going to read specifically what NVIDIA had to say.
How did NVIDIA's cautious revenue forecast after-hours spark concern about the pace of AI spending?
It says any requests for a percentage of the revenue by the U.S. government may subject us to litigation, increase our costs, harm our competitive position and benefit competitors that are not subject to such agreements. Now, obviously, this gets into a little bit of legalese here, but it seems to get to the point that whatever agreement Trump announced earlier this month, apparently that is not quite a done deal.
That is Bloomberg's Romain Bostic. Now, NVIDIA CFO Colette Kress said the company should be able to proceed with Chinese sales without paying the commission if this plan is not codified. We go to Japan next, where the country's top trade negotiator, Ryosei Akazawa, has canceled his trip to the U.S. This is according to a report from Kyoto. Here is Bloomberg's Jill Desis.
What Akasawa, the trade negotiator, was originally intending to do was go to Washington and sort of talk through some of the issues that Japan is seeing with some tariffs that they say that they agreed to with the United States earlier this summer. They originally had agreed to a lower auto tariff, 15 percent, and they also were trying to avoid the stacking of tariffs on top of each other. It seemed like at this point the U.S. is yet to deliver on those promises that were reached according to what Japan says it reached this deal with earlier this summer.
That is Bloomberg's Jill Desus in Hong Kong. Now, according to Japan's Cabinet Office, the visit was cancelled because there were points that still needed to be debated at the administrative level. The Bank of Korea held its policy rate unchanged at 2.5% earlier on Thursday. The decision was in line with expectations, although one economist in the Bloomberg survey did forecast a quarter-point rate cut. BOK officials upgraded their growth and inflation forecast, but they also warned of financial imbalances tied to housing and household debt. The Bank of Korea has already delivered four rate cuts since last October. We're seeing a stronger Korean won in the moment after this decision, and Korean government bond yields have edged slightly lower.
The Department of Health and Human Services says it has ousted CDC Director Susan Menares just weeks into her tenure. Now, this comes after she reportedly pushed back against the stance on vaccines held by HHS Secretary Robert F. Kennedy Jr. However, in an emailed statement, attorneys representing Menares said she has neither resigned nor received notification from the White House that she has been fired.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–1:34
2
How did NVIDIA's cautious revenue forecast after-hours spark concern about the pace of AI spending?
1:34–5:07
3
What did Bloomberg Tech say about NVIDIA's Blackwell platform and its role in the AI race?
5:07–6:24
4
How could a proposed U.S. commission on NVIDIA sales to China affect the company's legal and competitive position?
6:24–6:32
Speakers
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