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Nvidia denies receiving DOJ antitrust subpoena

Nvidia shares saw a slight after-hours bump as the chipmaker denied a report that it received a Justice Department antitrust probe.

Nvidia has denied a report that it received an antitrust subpoena from the United States Justice Department, with its share price seeing a slight rise in after-hours trading.

“We have inquired with the US Department of Justice and have not been subpoenaed,” an Nvidia spokesperson told Cointelegraph, first reported by CNBC. “Nonetheless, we are happy to answer any questions regulators may have about our business.”

“Nvidia wins on merit, as reflected in our benchmark results and value to customers, and customers can choose whatever solution is best for them,” the spokesperson added.

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Wyoming proposes bill for Strategic Bitcoin Reserve

Japan’s Sakana AI partners Nvidia for research, raises $100M

The Tokyo-based startup raised $100 million in a Series A funding round led by New Enterprise Associates, Khosla Ventures and Lux Capital, with participation from Nvidia.

Tokyo-based Sakana AI, a year-old startup, has partnered with United States chipmaker Nvidia to develop Japan’s artificial intelligence community. The company counts Google researchers among its founders.

In addition to the Nvidia partnership, the startup raised $100 million in a Series A funding round from key investors “led by New Enterprise Associates, Khosla Ventures and Lux Capital, with participation from Nvidia.” The funds will be invested in talent and infrastructure development to advance “nature-inspired, sustainable, and energy-efficient AI technologies.”

Source: Sakana AI

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Wyoming proposes bill for Strategic Bitcoin Reserve

Unified Global Framework Crucial for Multi-Trillion-Dollar RWA Market, Says Finance Veteran

Unified Global Framework Crucial for Multi-Trillion-Dollar RWA Market, Says Finance VeteranThe real-world assets (RWAs) tokenization sector is predicted to become a multi-trillion-dollar market, but achieving this growth will likely require a unified global regulatory framework, according to Shy Datika, founder and CEO of INX. Datika, a veteran of both traditional and digital finance, argues that such a framework would not only provide clarity but also […]

Wyoming proposes bill for Strategic Bitcoin Reserve

Nvidia posts historic one-day loss after US antitrust subpoena

US antitrust officials are reportedly worried that Nvidia is penalizing buyers that don’t exclusively use its computer chips, a claim Nvidia rebuffed. 

Nvidia has suffered its biggest one-day loss in market capitalization, paring over $280 billion in value, after the United States Department of Justice (DOJ) reportedly issued an antitrust subpoena.

Shares in Nvidia (NVIDIA) closed down 9.5% on Sept. 3 at $108, shaving $278 billion off its market cap. It’s the largest single-day value wipeout for any stock in the history of the US share market, per Google Finance data

Its shares continued to fall more than 2% to a low of $105 in after-hours trading.

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Wyoming proposes bill for Strategic Bitcoin Reserve

Bitcoin price loses traction as miner profits drop and spot BTC outflows persist

Bitcoin has lost more than 10% in the past two weeks as fear of a US recession, spot Bitcoin ETF outflows and the threat of miner capitulation grows.

Bitcoin (BTC) price dropped 10% over the 10 days ending on Sept. 3, falling from $64,190 to $57,800. This decline occurred despite the S&P 500 index being just 2% below its all-time high and gold trading only $50 away from its historical peak. While some cryptocurrency investors attribute Bitcoin’s dip to the broader macroeconomic environment, other factors are also pushing its price below $59,000.

Source: DamiDefi

Trader DamiDefi explains that Bitcoin has been influenced by recession concerns in the United States, but that trend is stabilizing as the focus shifts to “monetary policy and the US dollar’s performance.” The “bullish narrative” for Bitcoin going forward will hinge on the expectation of a “looser Federal Reserve policy, [...] such as lowering interest rates.” Essentially, traders anticipate that the US will be compelled to implement expansionary measures to stimulate the economy.

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Wyoming proposes bill for Strategic Bitcoin Reserve

Nvidia Q2 revenue beats expectations in record-setting boost to AI sector

 The company expects next quarter to be even better with improvement projected across nearly every vertical. 

Nvidia’s earnings call did not disappoint as CFO Colette Kress announced Q2 earnings of $30 billion, beating its previous estimate by two billion dollars. This bullish signal could buoy the burgeoning artificial intelligence sector as markets reopen on Thursday Aug. 29.

Nvidia held its Q2 earnings call on Wednesday Aug. 28 in what investors and analysts have been treating as a sort of “Groundhog’s Day” for the artificial intelligence industry. 

CFO Colette Kress’ announcement that the company posted a second quarter revenue of $30 billion should be enough to allay any worries over an artificial intelligence winter. These figures beat estimates by about seven percent. This continued the firm’s streak of record-breaking quarters and prompted a litany of positive responses across social media.

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Wyoming proposes bill for Strategic Bitcoin Reserve

Big tech is prepping an explosive pivot to robotics

The ten most valuable tech firms in the world are all involved in developing technology for the robotics industry.

The next big thing in the technology industry appears to be consumer robotics and there could be massive implications for both Main Street and Wall Street. 

An analysis of the top ten tech firms in the world by market capitalization, their 2024 performance to-date, and what we’ve been able to glean about their current budgets indicates that big tech is ready to move beyond chatbots.

There are currently countless robots in the world. They’re used to build cars, stitch clothing, and even handle nuclear materials. But these specialized machines are purpose-built to perform specific tasks and typically not available or even useful to the average person.

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Wyoming proposes bill for Strategic Bitcoin Reserve

Half of the 10 most valuable companies on Earth are making metaverse hardware

The metaverse is dead, long live the metaverse.

Microsoft is reportedly looking to take on Apple’s Vision Pro headset with new hardware it would develop in partnership with Samsung. This would mean that five of the ten most valuable companies by market capitalization — Apple, Google, Meta, Microsoft, and Nvidia — are currently developing new metaverse gear. 

The Microsoft news comes from a local outlet in South Korea, The Elec. According to the report, Microsoft plans to order hundreds of thousands of OLED panels from Samsung for a device to be mass produced in 2026.

That’s a ways off and, according to The Verge, the device will be a headset meant for spatial computing (as opposed to virtual reality). The Verge also indicated that it was specifically not meant for the metaverse — but, any display device, including a computer monitor, can interface with “the metaverse,” spatial computing devices just offer a different level of immersion.

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Wyoming proposes bill for Strategic Bitcoin Reserve

Apple used Google’s chips to train its AI — where does that leave Nvidia?

Nvidia’s shrinking market cap could signal a shift in the generative AI developer’s market.

Apple had the same choices as any other technology company with money to burn when it came to training its artificial intelligence models. It could have used its own chips, conducted training via cloud infrastructure, or gone the popular route and just bought billions of dollars' worth of Nvidia chips. Instead, it made a deal with the company that owns Google. 

Apple has been accused of being late to the artificial intelligence party. While its peers were busy pivoting to generative AI and pouring billions of dollars into training chips and cloud services, Apple’s public-facing image focused on iPhone sales and “spatial computing.”

This led analysts and pundits to worry over whether the house that Steve Jobs built was falling behind its closest competitors. Then, in June of 2024, the market itself seemed to confirm those fears when Nvidia passed up Google, Apple, and Microsoft to become the most valuable company in the world.

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Wyoming proposes bill for Strategic Bitcoin Reserve

SEC and Ideanomics settle crypto revenue reporting fraud charges

According to the report, all parties involved have agreed to settle the charges without admitting or denying the SEC’s findings

The United States Securities and Exchange Commission (SEC) has settled fraud charges with electric vehicle company Ideanomics over financial reporting and “misleading the public about the company’s performance.” 

According to the SEC website, its investigation revealed that between 2017 and 2019, Ideanomics and several of its senior executives engaged in significant material misrepresentations about the company’s financial performance. The charges specifically involved misleading investors about the company’s revenue from crypto assets.

The SEC alleged that Ideanomics reported revenues of over $40 million for 2019 based on fraudulent accounting related to a crypto asset transaction. The agency claimed that the false reporting led to overestimated financial statements, misleading shareholders and the public about the company’s financial health.

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Wyoming proposes bill for Strategic Bitcoin Reserve