TNB Tech Minute: Nvidia’s $250 Billion Plan To Back Data Center Sends Shares Lower
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What is the main topic discussed in this episode?
This episode is sponsored by Anthropic, the makers of Claude. Scott Wu spent his childhood winning math and programming competitions. Now he solves similar problems as CEO of Cognition, a successful AI startup. Find out more at the break.
Here's your afternoon TNB Tech Minute for Monday, July 27th. I'm Imani Moise for The Wall Street Journal.
Why did Nvidia shares fall after reports of a $250 billion data-center backstop?
Nvidia stock tumbled today after an exclusive Wall Street Journal report detailing the chip giant's plans to provide a roughly $250 billion backstop for a massive open AI data center project. The report intensified investor concerns about circular financing in the AI economy. and the extent to which NVIDIA is investing in its own customers, which in some cases need the chipmaker's financial backing to purchase its chips.
What concerns do investors have about circular financing in the AI ecosystem?
The $250 billion guarantee would cover a data center lease in southern Ohio, and debt needed to fund its build-out, but not the NVIDIA chips that would go inside it. NVIDIA is also discussing a deal to finance the chip purchase for OpenAI, which could total $350 billion.
How big is Nvidia’s proposed support for OpenAI chip purchases and what would it cover?
After NVIDIA's shares fell, Apple took back its crown as the largest U.S. company by market cap for the first time since May of last year, snapping NVIDIA's 272-day trading streak with that title. The iPhone maker hit an all-time intraday high today, pushing its market value to nearly $5 trillion, a new milestone for the company. Apple is set to report earnings this Thursday. And AstraZeneca says it's on track to hit its revenue target for 2030 after a pivotal trial missed the mark earlier this month.
How did Apple reclaim the largest U.S. market-cap spot and reach nearly $5 trillion?
The CEO of the UK drugmaker said that the company assumed from the outset that some of its drug candidates would fail and that its target was based on sales forecasts adjusted for that risk. AstraZeneca is due to provide updates on 20 high-profile studies over the next year and a half, with potential to strengthen its portfolio beyond 2030. The company also reported higher second-quarter sales today, driven by its cancer medicines. And that's it for your TNB Tech Minutes.
What is AstraZeneca’s outlook for hitting its 2030 revenue target and what trials matter?
We'll have another quick tech update in the morning.
Anthropx Cloud is AI for problem solvers. Here's cognition's Scott Wu on how the model made his vision possible.
What we do at Cognition is we build Devon, the first AI software engineer, and a suite of tools around that. Our whole mission is to help build software around the world 10 times faster. From the beginning, I always loved that you could take any idea that you had and turn it into reality. Everyone will be able to turn those ideas into reality. By getting to work with Anthropic, we're able to go and deliver customers the exact capabilities that they're looking for. We've been able to help bring folks to a new era of software engineering. This is a world where building software is just as easy as telling your computer what to do.
What problems will you solve with Claude? Learn more at claude.com slash problem solvers.
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Chapters
6 chapters
1
What is the main topic discussed in this episode?
0:00–0:23
2
Why did Nvidia shares fall after reports of a $250 billion data-center backstop?
0:23–0:49
3
What concerns do investors have about circular financing in the AI ecosystem?
0:49–1:07
4
How big is Nvidia’s proposed support for OpenAI chip purchases and what would it cover?
1:07–1:40
5
How did Apple reclaim the largest U.S. market-cap spot and reach nearly $5 trillion?
1:40–2:07
6
What is AstraZeneca’s outlook for hitting its 2030 revenue target and what trials matter?
2:07–2:56
Speakers
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