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Exploring the stark contrast in financial results between Nvidia and HSBC, with Nvidia experiencing a massive 800% rise in net income due to AI chip sales while HSBC grapples with an 80% profit decline, primarily stemming from issues in China and significant write-downs on investments.

Nvidia’s net income soared nearly 800 per cent in the latest quarter compared to the same period in 2022, HSBC reported an 80 per cent drop in quarterly profit, and Boeing is replacing the executive in charge of manufacturing its 737 Max aircraft. Plus, Indonesia’s incoming president is creating concerns for the country’s democracy.

Mentioned in this podcast:

Nvidia declares AI ‘tipping point’ as quarterly revenues jump 265%

HSBC shares fall most since 2020 after profits plummet 80%

Boeing ousts head of 737 Max programme

What Prabowo Subianto’s presidential election win means for Indonesia

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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