Nvidia Q1 results surpass Wall Street expectations thanks to massive AI chip demand
Artificial intelligence chipmaker Nvidia’s quarterly results blew past Wall Street’s expectations once again, fueled by massive demand for its high-end AI chips. The company said Wednesday it earned $58.32 billion, or $2.39 per share, in the February-April period. That is up from $18.78 billion, or 76 cents per share, in the same period a year earlier. Excluding one-time items, Nvidia earned $1.76 per share. Revenue jumped 85% to $81.62 billion from $44.01 billion. Analysts, on average, were expecting earnings of $1.75 per share and revenue of $78.91 billion, according to a poll by FactSet.
SpaceX reveals plans for what could be the biggest-ever initial public offering
NEW YORK (AP) — Elon Musk announced plans Wednesday for one of the biggest sales of stock to the public ever for his space company that is currently losing billions of dollars year. A filing Wednesday shows his SpaceX lost $2.6 billion from operations last year on $18.7 billion in revenue, and the losses kept piling up at the start of this year, too. Still, the initial public offering is expected to rank among the largest ever, possibly surpassing the current title holder, Saudi Aramco, the oil giant that went public seven years ago. The stock sale could also make Musk, a major owner who founded SpaceX in 2002, the world’s first trillionaire. Forbes currently puts his net worth at $839 billion.
Demand soars for Israel's battle-tested weapons tech despite global criticism of its wartime conduct
TEL AVIV, Israel (AP) — Demand is soaring for Israel's battle-tested weapons and military technology, despite widespread condemnation by rights groups and the international community over the country's conduct in wars, particularly in Gaza. Industry officials say even nations that have publicly criticized Israel are nonetheless quietly buying its military technology. Israel's Defense Ministry says sales have more than doubled in the past fives years, with a record high of nearly $15 billion in 2024, the most recent year for which figures were available. More than half of its sales are for missiles, rockets and air defense systems. Experts say a lot of countries are looking to Israel because they’re seeing in real time that these are weapons and systems that work.
Samsung's union puts off strike after reaching last-minute wage deal with management
SEOUL, South Korea (AP) — Samsung Electronics’ labor union says it’ll hold off a planned strike and put a tentative wage deal with management to a vote. The announcement on Wednesday night alleviates concerns about the operation of the world’s largest memory chip maker. Union leader Choi Seung-ho says the union agreed to suspend a planned 18-day strike that he earlier said would start from Thursday. Senior Samsung official, Yeo Myounggoo, says the company hopes that the deal will be a starting point for more stable relations with the union. The union’s strike was feared to rattle global semiconductor supplies and the country’s trade-dependent economy.
San Francisco turns to AI to avoid collisions between ships and whales searching for food
SAN FRANCISCO (AP) — Climate change is pushing starving gray whales into the San Francisco Bay in unusual numbers, where ship strikes killed at least 40% of the 21 whales found dead last year. Melting Arctic sea ice has disrupted their food web, leaving malnourished whales to linger in the crowded channel during their 12,000-mile migration. In response, California launched an AI-powered thermal camera network that detects whale heat signatures up to 2 nautical miles away and alerts mariners in real time. Meanwhile, marine heatwaves are compressing humpback feeding grounds closer to shore, increasing deadly entanglements in Dungeness crab gear. California recently approved ropeless pop-up fishing gear to reduce entanglement risk.
Google announces slew of AI advances, including a personal AI assistant coming soon
Google is introducing a range of new AI tools, including an AI assistant called Gemini Spark, which proactively performs tasks for users. Announced at the Google I/O developers conference, Gemini Spark is the latest in a slew of big bets Google is making in AI technology. The latest Gemini model, 3.5 Flash, is launching Tuesday, offering speed and advanced safety features. Google unveiled Gemini Omni, enabling users to create high-quality videos from various inputs. Google is also enhancing its search engine with AI-powered features, building on previous moves that have put Gemini in front of billions of users.
Appeals court judges appear to be divided over Pentagon's legal dispute with AI company Anthropic
WASHINGTON (AP) — A panel of appellate judges appears to be divided over a legal dispute between the Pentagon and Anthropic. The AI technology company claims Defense Secretary Pete Hegseth unlawfully and falsely branded it as a national security risk. Three judges from the U.S. Court of Appeals for the District of Columbia Circuit didn’t indicate how soon they would rule in the case after a hearing Tuesday. But their questions hinted at a split among the judges. Judge Karen LeCraft Henderson said she sees no evidence to support the Pentagon’s determination that Anthropic poses a supply-chain risk. Judge Neomi Rao questioned what basis the court could have to second-guess Hegseth’s judgment.
Graduates are booing pep talks on AI at college commencements
Artificial intelligence has become an unwelcome topic at college commencements. Graduates at several colleges and universities have interrupted speakers with boos when they mention AI. Former Google CEO Eric Schmidt is the latest keynote speaker to face heckling, during his speech at the University of Arizona this weekend. More backlash met speakers at the University of Central Florida and Middle Tennessee State. Promoting artificial intelligence can feel tone deaf at a time when AI-related layoffs have graduates facing one of the most uncertain job markets in years. Polls show growing anger as AI threatens careers people have spent years pursuing.
Trump discloses thousands of stock trades, some in companies directly influenced by his policies
NEW YORK (AP) — Recent presidents have stayed away from trading stocks in companies whose fortunes they could lift or scuttle with the stroke of a pen. But Donald Trump smashed that precedent in the first quarter of this year with more than 3,500 buy and sell orders, many of them involving companies whose profits have been directly impacted by his decisions as head of the government, according to a recent disclosure. Among the companies Trump traded in were Nvidia, Apple and some big defense contractors. The Trump Organization said the portfolio is managed by third parties and the president has no say in what stocks to buy and sell.
Brazil's Lula adds pressure on big techs by increasing their liability for illegal user content
SAO PAULO (AP) — Brazil’s President Luiz Inácio Lula da Silva signed two decrees on Wednesday to add pressure on big tech companies by making them liable for illegal content shared by its users and opening way for investigations through a government body on their response to such cases. The first decree makes key adaptations to government regulations to align them with Brazil’s Supreme Court’s decision making big techs liable if they refuse to remove content by judicial order. It also enables the country’s national agency of data protection to investigate those cases. The second decree establishes guidelines for the protection of women in the digital environment.
