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Bloomberg Daybreak: Europe Edition
Nvidia Tumbles After Forecast, Telegram CEO Charged & Tax Hikes For The Rich
Aug 29, 2024
Pavel Durov, the CEO of Telegram and a tech visionary, discusses the serious legal charges he faces in France related to the use of his messaging platform for illegal activities, including child exploitation. He dives into the implications of these charges for the future of digital communication. Amidst this, Nvidia's disappointing forecast raises concerns for investors, while debates on wealth taxation heat up in the UK, highlighting a growing divide on economic policies. Durov's insights shed light on the fine line between innovation and responsibility in the tech world.
19:44
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Quick takeaways
- Nvidia's disappointing forecast for its Blackwell chips led to a significant drop in share prices, reflecting high investor expectations.
- Governments are increasingly investing in AI initiatives, viewing digital data as a crucial resource for national economic competitiveness.
Deep dives
Nvidia's Disappointing Earnings and Market Reaction
Nvidia experienced a notable decline in share prices following the release of its earnings report, which, despite meeting or exceeding expectations, failed to satisfy investor hype. The company projected revenues of $32.5 billion for the upcoming quarter, which, while above consensus expectations, did not match the extraordinary figures previously anticipated by the market. Factors contributing to investor disappointment included production difficulties with the newest Blackwell chips, leading to a nearly 7% drop in after-hours trading. This situation highlights the high expectations set for high-performing tech stocks like Nvidia, where even minor deviations from projections can lead to significant market reactions.
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Discover
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