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Bitcoin (BTC) 
$92,384 prices saw a decline reaching a new daily low of $88,808 as Federal Reserve minutes were released. The Bureau of Labor Statistics announced it would not release the October employment report due to the government shutdown, marking the first instance since 2013. Consequently, the expectation for a December interest rate cut dropped to around 30%. However, all eyes were truly on Nvidia’s earnings report.
Latest Developments in Nvidia’s Earnings Report
Before the report’s release, Nvidia shares exceeded $186, reflecting a 3% increase, as traders anticipated significant earnings impacts. According to Cboe Global Markets, traders projected a 7-8% fluctuation in stock prices post-announcement until Friday. The burning question: has the “artificial intelligence bubble burst” or not? This report aims to provide that answer.
Key elements in Nvidia’s earnings include sales, AI-related ventures, and other critical details. On the same day, Alphabet experienced a 3% increase, though Microsoft saw a 1.4% decrease. Concerns over the profitability of AI investments, fueling the “bubble” debate, had previously influenced the tech sector’s investment cycles. This controversy substantially contributed to a market downturn in November, with Softbank’s NVDA sales exacerbating the situation.
Approximately half an hour before Nvidia’s earnings report, Bitcoin aligned with NVDA’s price increase, nearing $89,500. Concurrently, Elon Musk and Jensen Huang announced a partnership with Saudi Arabia on a 500-megawatt project. Huang noted Nvidia’s collaboration with Saudi Arabia to build “supercomputers.”
Expectations and Projections from Nvidia
The primary focus of Nvidia’s report will be its projections for the upcoming quarters. Insights into cash flow and a predicted $500 billion in data center revenue by 2025 and 2026 form crucial aspects of the report. The document will also cover projections for OpenAI applications and revenue forecasts for CY26, as well as agreements with Nokia, Intel investments, and details regarding Chinese licenses.
So, how did Nvidia’s earnings report fare? Here are the details:
- Overall earnings exceeded expectations.
- Earnings per share reached 1.3, surpassing predictions.
- Revenue hit $57.1 billion, higher than anticipated.
- Next quarter’s revenue estimate ranges between $63.7 billion and $66.3 billion, exceeding expectations.
(Note: This news is still being updated; more details will continue to be added. Please check back for updates once completed, this note will be removed.)
