Nvidia Outlook Tops Estimates, Rubio on Cuba Boat Shooting, More
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What are the latest earnings forecasts from Nvidia?
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News when you want it. With Bloomberg News Now, I'm Doug Krisner. And we begin with earnings. After the bell, NVIDIA gave another bullish forecast for quarterly revenue. CEO Jensen Wang said the enterprise adoption of AI agents is skyrocketing. Now, that would suggest it's not just hyperscalers buying NVIDIA products, but corporations as well. And we got reaction from Bloomberg analyst Mandeep Singh.
they're pointing to 77% growth in their fiscal 1Q. So that goes to show, and the proof point you can see in the hyperscaler capex. The hyperscaler capex seems to be going up as well. So it's underpinned by healthy fundamentals. We know why Nvidia's top line is accelerating. Right. Because the capex seems to be accelerating. And all this points towards more inferencing, more demand for AI compute.
That is Bloomberg analyst Mandeep Singh. Shares in NVIDIA up by more than 1% in late US trading. Now, NVIDIA's numbers suggest further future disruption coming from artificial intelligence. One name caught up in that scrutiny? Salesforce, which also reported earnings after the bell. And the company's forecast for revenue in the current quarter was underwhelming. We got reaction from Bloomberg analyst Anurag Rana.
There are a handful of their products that they have that they sell into the enterprise, whether it's customer service cloud or sales automation cloud. Those are the ones I think they have a little bit better position of not being disrupted, but they have other visualization tools or some other smaller products that may not be the ones, but anybody would pay for it. So I think there is a lot that needs to be done from Salesforce in terms of adding more AI capabilities to its core product and not change the narrative around
That is Anurag Rana from Bloomberg Intelligence. By the way, Salesforce also increased its stock buyback plan to $50 billion. Shares in Salesforce down about 5% in late US trading. Four people on board a US speedboat were shot and killed today by Cuban authorities in territorial waters off the coast of Cuba. Now, the Cuban government says members of its border guard approached the speedboat and received gunfire from those on board.
How is AI adoption impacting Nvidia's business growth?
The commander of the military vessel was wounded, and six others on the speedboat were wounded as well and given medical care. The New York Times reports civilians on the speedboat were attempting to get relatives out of Cuba. However, according to the state outlet Cuba Debate, those on the speedboat had intentions of infiltrating the country for terrorist purposes. Meantime, U.S. Secretary of State Marco Rubio said the U.S. Coast Guard will investigate the incident to independently verify the information provided by the Cuban government.
Yeah, well, first of all, I'm not going to comment about this specific boat until we have all the information. So I just want to be clear. I'm not going to speculate about whose boat it was, what they were doing, why they were there, what actually happened. I'm not going to speculate on that because it's not smart to do that until we have all the facts.
To provide a bit of context, the U.S. has effectively imposed a naval blockade on Cuba, dramatically reducing its access to fuel. Vice President J.D. Vance announced the Trump administration would temporarily halt some Medicaid funding to Minnesota due to concerns over fraud. Vance described it as an aggressive crackdown on the misuse of public funds. Here's Vance.
The problem is not going after the fraud. The problem is the fact that these programs are being defrauded to begin with. They will not exist. Our social safety net will disappear unless we take fraud more seriously.
That is Vice President GD Vance.
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