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Nvidia’s high-flying earnings aren’t good enough

September 03, 2024

Scott Nover

FILE PHOTO: A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023.

REUTERS/Dado Ruvic/Illustration/File Photo

Nvidia’s earnings reports have become a cultural phenomenon, with super-fan investors even throwing watch parties to tune into how high-flying the chip maker’s marks will be each quarter.

Last week, Nvidia, whose chips have fueled the current AI boom, reported more than $30 billion in sales in the second quarter of its fiscal year, up 122% from the same quarter last year. But even though it beat Wall Street analyst predictions, the stock sagged 7% after the report.

Nvidia’s stock is up 147% since the start of 2024, leading the hottest part of the stock market. While some wonder if AI is little more than a speculative bubble with AI stocks soaring, Nvidia is now the third-most-valuable company globally, and the biggest question each quarter is: How good is good enough for investors?

GZEROMEDIA

60% of Germans believe energy transition is necessary – and they want to be more involved in decision-making

BMW Foundation

The energy transition is one of society’s biggest challenges – especially for Europe’s largest economy – according to a survey commissioned by the BMW Foundation Herbert Quandt and undertaken by the Allensbach Institute for Public Opinion Research. Sixty percent of those polled believe the energy transition is necessary but have doubts about how it is being implemented. A whopping 63% would like to be more involved in energy-transition decisions affecting their region. The findings strongly suggest that it’s essential to get the public more involved in energy policymaking – to help build a future energy policy that leads to both economic prosperity and social cohesion. Read the full study “Attitudes Toward the Energy Transition” here.

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G7 foreign ministers meet ahead of June summit. Could be awkward.

From left, British Foreign Minister David Lammy, French Foreign Minister Jean-Noel Barrot, Canadian Foreign Minister Melanie Joly, US Secretary of State Marco Rubio, and German Foreign Minister Annalena Baerbock pose for a photo during the G7 foreign ministers meeting in La Malbaie, Charlevoix, Quebec, on March 13, 2025.

SAUL LOEB/Pool via REUTERS

Ahead of the 50th G7 Summit in Kananaskis, Alberta, this summer, foreign ministers from member countries are meeting in Charlevoix, Quebec, this week. Canada, as the current president of the G7, is hosting the confab, which may be a tad … awkward.

Canada’s new PM is a technocratic banker who’s never been elected — and that might help him

Canadian Liberal Party leader Mark Carney faces Conservative leader Pierre Poilievre in this composite, with Donald Trump hovering in the background.

Jess Frampton

Liberal Party leader Mark Carney’s previous, purported liabilities — being a staid, low-key, globalist technocrat who’s never been elected — may now be seen as strengths as he prepares to call a snap election in the coming days. David Moscrop explains why.

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Nvidia’s high-flying earnings aren’t good enough

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Nvidia’s high-flying earnings aren’t good enough

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