Nvidia's Rosy Revenue Forecast, Cuba Kills 4 in US Boat, More
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News when you want it with Bloomberg News Now. I'm Amy Morris. Looks like the AI boom is still booming. NVIDIA giving another bullish quarterly revenue forecast signaling that the massive build out of AI computing remains on track. Bloomberg Intelligence Global Head of Tech Research Mandeep Singh.
NVIDIA is actually selling to their customers entire systems that have higher ASPs. They are helping them reduce the token costs, and that's where the customers don't mind paying that extra premium that NVIDIA is charging, because overall, the total cost of ownership is lower than if you were to standardize on any other chips.
Data compiled by Bloomberg shows fiscal first quarter sales will be about $78 billion, compared with an average Wall Street estimate of 72.8%. The outlook helped soothe concerns about a bubble in AI investments. NVIDIA shares about 4% higher in the post-market. Salesforce gave a lukewarm outlook for sales growth in the new fiscal year, fueling Wall Street's worries that the software giant will lose out to new competitors in the age of AI. Salesforce shares are down more than 5% in the post-market. Paramount shares more than 2% lower in after-hours trading in the midst of its takeover bid for Warner Bros. Discovery. Paramount reported revenue for the fourth quarter that met the average estimate. Stocks erased their losses for the week so far as Nvidia and other tech companies led the way.
And we bring you those closing numbers each day here at Bloomberg. The S&P 500 gained 56 points. NASDAQ jumped 288 points. The Dow is up 308 points. The 10-year Treasury yield at 4.05%. The 2-year yield at 3.47%. Bitcoin now more than 8% higher, hovering around $69,000. Other stories we're watching for you today. Cuban forces killed four people and wounded six others traveling in a speedboat with Florida tags after they opened fire on the island's border patrol injuring the commander. Before the shooting started, security forces were approaching that Florida boat to identify the passengers. U.S. and Cuban tensions are running high as the Trump administration has effectively imposed a naval blockade on the communist-run island and dramatically reduced its access to fuel.
What is Nvidia's latest revenue forecast and its implications?
Former Treasury Secretary Larry Summers will resign from teaching at Harvard University amid a campus review of his ties to Jeffrey Epstein. Summers, who has been on leave since November and whose name appeared hundreds of times in newly released Epstein files, will leave at the end of this school year. The European Union says U.S. tariffs are a break from their trade deal on more than 4 billion euros of goods. The deal they struck last summer would impose a 15 percent tariff on most EU exports to the U.S. and remove tariffs on American goods heading to the EU. Sources tell Bloomberg that President Trump's new policy increases duties above that 15 percent maximum on European exports of cheese, butter, agricultural products, plastics, textiles and chemicals.
After the Supreme Court decided that the president could not use his emergency powers to impose sweeping global tariffs, the president announced during last night's State of the Union that he'll go through other authorities to put those tariffs in place. And he's starting with a 150-day, 10 percent global tariff. U.S. Trade Representative Jameson Greer.
The idea is to establish a through line from the policy that the president has implemented successfully over the past year and continue it over the 150 days and as we build up appropriate tariff rates using other investigations and means.
Greer says there are gaps in parts of the USMCA trade deal with Canada and Mexico.
How is AI affecting Nvidia's sales strategy?
We also have concerns about trans-shipment through Canada and Mexico of goods from third countries coming through and benefiting from duty-free treatment from USMCA.
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