Off The Charts

AI bubble fears have been popped… for now.

Nvidia dropped an expectation-crushing earnings report Wednesday: 

• $57B in Q3 revenue (vs. ~$55B expected)
• $51B from data center sales alone (topping ~$49B estimates)
• $65B projected for Q4 revenue (above previous ~$62B forecasts)

CEO Jensen Huang said sales of the company’s next-gen Blackwell chips are “off the charts” and that some cloud GPUs are “sold out.” Investors liked what they heard—Nvidia shares jumped ~5% in after-hours trading. All this comes even as big names have started placing bets against AI. Silicon Valley investor Peter Thiel’s hedge fund recently dumped its entire Nvidia stake, intensifying bubble concerns. And Michael Burry—the Big Short guy—bought “put options” on Nvidia, betting the stock price will drop.

Meanwhile, September’s shutdown-delayed jobs report finally dropped, showing the U.S. added 119,000 jobs, much higher than expected.

CHRISTIAN PERSPECTIVE
Massive wealth gains could be here today and gone tomorrow. Don’t let economic news determine your mood, win your heart’s affection, or steal your Kingdom focus.

“No one can serve two masters, since either he will hate one and love the other, or he will be devoted to one and despise the other. You cannot serve both God and money.”
Matthew 6:24 (CSB) (read full passage)