NVIDIA revenue +88% QoQ to $13.5B, net profits +203% to $6.2B, net margin of 46%
Bay Area Times
August 24, 2023
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Top stories today:
- NVIDIA revenue +88% QoQ to $13.5B, net profits +203% to $6.2B
- India 1st to land spacecraft on moon's south pole
- Rumble gets 1.4M viewers for 1st GOP debate, vs. ~10M on FOX
- Netflix adds 2.6M U.S. gross subscribers in July, from 75M base
- Prigozhin dead after plane crash, Biden blames Putin
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 close (4 PM ET / 1 PM PT).
All times are ET.
1. NVIDIA revenue +88% QoQ to $13.5B, net profits +203% to $6.2B, net margin of 46%
NVIDIA stock was +8% after hours, taking its implied valuation to $1.25T
2. India 1st to land spacecraft on moon's south pole, after Russia's failure
Water ice in permanently shadowed areas near the moon's south pole makes it of special interest to scientists
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4. Rumble gets 1.4M viewers for 1st GOP debate, vs. an estimated 10M on FOX News
Ramaswamy was the most Googled candidate
Tucker Carlson's competing interview with Trump got 123M+ views on Twitter, but the definition of a Twitter view is very broad
“Anyone who is logged into Twitter who views a Tweet counts as a view, regardless of where they see the Tweet (e.g. Home, Search, Profiles, etc.) or whether or not they follow the author. If you’re the author, looking at your own Tweet also counts as a view.” - Twitter
5. Netflix adds 2.6M U.S. gross subscribers in July, from a reported base of 75M in Q2
Password crackdown started in June and likely led to much of this growth. - Antenna
Subscriber growth increasingly comes from ad-supported plans
6. Prigozhin dead after plane crash, Biden blames Putin
7. Sense of mission, purpose continue to erode among remote workers
8. Layoffs, pay cuts among $100K+ earners near low after jump in early 2023
9. Interesting tweets, memes, and videos
YC controversy continues:
10. Other headlines
AI
Microsoft may bring AI to Paint, Photos on Windows 11.
Human generator tool creates full-body photos in real-time.
Tech
TikTok Shop expected to lose $500M in U.S. in 2023.
Apptronik unveils Apollo, general-purpose humanoid robot.
Apple now supports right-to-repair in CA.
Zoom CEO said it's hard to innovate “when we are all on Zoom.”
Starlink working with Cloudflare to speed up service, 1.5M users.
Yahoo acquires CommonStock to accelerate Finance portal.
Sony's portable PlayStation Portal launches this year for $200.
Epic offers games 100% of revenue during exclusivity period, then 88%.
Rocket Lab successfully reuses engine in space flight.
Biotech
Brain implant helps paralyzed people speak: research.
Species lifespan linked to autophagy.
Business
BRICS adds Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, UAE.
SEC votes 3-2 to add regs to $20T VC, PE, hedge funds industry.
Snowflake revenue +36% YoY to $674M in Q2 FY24.
Peloton stock -22% after net result of -$242M, worse than expected.
Foot Locker stock -28% after revenue -10%, guidance lowered.
Juul to cut 28% of staff, 250 people.
China recruiting overseas talent offering $420K-$700K bonuses.
Qatar invests $1B in India's Reliance Retail at $100B valuation.
CNN considers former NYT CEO as new CEO.
Crypto
FTX taps Galaxy to sell, hedge, stake $3B crypto portfolio.
$1.5M per day in legal costs, still.
Tornado Cash's 2 co-founders hit with 3 charges, 1 arrested.
Binance denies WSJ reports it violated Russian sanctions.
FBI warns crypto participants about $40M North Korean hack.
Bitstamp ends Ethereum staking for U.S. investors.
U.S. politics
Federal judge rejects Meadows, others’ bid to avoid Georgia arrest.
Giuliani, Powell surrender, have mug shots taken.
Trump to surrender in Georgia today.
World
WSJ reporter's detention extended in Moscow hearing.
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