Elon Musk Mentioned the Name of a New Memecoin: Price Spikes

U.S. Treasury Secretary Janet Yellen's recent, more proactive involvement in the U.S. Treasury market is prompting Wall Street to reassess the government's future debt financing strategies.

As concerns over the U.S. fiscal deficit, government debt, and the outlook for the dollar resurface in the market, investors are flocking to both gold and bitcoin simultaneously, instead of choosing between the two assets.

In the second fiscal quarter, Nvidia reported its highest year-over-year revenue growth in two years, with data center revenue increasing 117% year-over-year and a gross margin steady at 75% compared to the previous quarter. The company recorded nearly $7.8 billion in net gains from equity securities for the quarter. For the third fiscal quarter, the midpoint of revenue guidance indicates a year-over-year slowdown to nearly 90%. Excluding data center computing revenue from China, this did not surpass the most optimistic institutional expectations. The gross margin guidance midpoint slipped to 74%, slightly below expectations. Nvidia stated that Rubin is accelerating into full-scale production. Jensen Huang said that AI has reached an inflection point, and computing power now translates directly into revenue. After the earnings report, shares initially dropped 4% in after-hours trading. However, as the earnings call revealed a projected 70% increase in next fiscal year revenue and Amazon pledged to substantially increase its adoption of Nvidia products, the stock rebounded to nearly a 5% gain after hours.

AI company Anthropic is further securing computing power resources for the coming years.