Thu. 08/29 – Nvidia Earnings… Are Ok…

Aug 29, 2024 16m

AI Summary Available

Get the full experience! Sign up to access transcripts, personalized summaries, and more features.

Nvidia’s earnings were huge but because they didn’t manage to beat the biggest expectations out there, it’s kind of a miss? Pavel Durov has been formally charged by France. Does TikTok fall outside of Section 230 protection? And it seems like the effort by the car companies to wean themselves off of smartphone tech is… not going great.

Links:

Nvidia’s CEO Says New Chip Will Have ‘Lots and Lots’ of Supply (Bloomberg)
Telegram CEO Charged in France for Crimes Committed on His App (Bloomberg)
TikTok must face lawsuit over 10-year-old girl's death, US court rules (Reuters)
OpenAI in Talks for Funding Round Valuing It Above $100 Billion (WSJ)
Top Movie Piracy Ring Taken Down, Major Studios’ Enforcement Group Claims (The Hollywood Reporter)
GM's 'Google Built-In' Is Glitchy, Requires A Subscription To Use Google Maps (Jalopnik)

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

AI-Generated Summary

Nvidia’s Earnings: A Mixed Bag

Nvidia's earnings report for Q2 showed a staggering 122% increase year-over-year in revenue, hitting $30 billion, exceeding estimates; however, despite the impressive figures, the stock saw a 4% decline. Analysts were disappointed that Nvidia didn’t surpass peak expectations particularly in reported gross margins of 75.1%, slightly lower than the 75.5% estimated. CEO Jensen Huang highlighted the anticipated supply of their new Blackwell chips, which are expected to generate billions in revenue by Q4, although there have been concerns regarding production issues.

Pavel Durov’s Legal Troubles in France

Pavel Durov, the CEO of Telegram, has been formally charged in France for complicity in crimes related to child sexual abuse material on his platform. The prosecution's case outlines a lack of cooperation from Telegram in legal requests, which has sparked significant controversy and led to discussions regarding platform accountability. Durov currently faces severe legal repercussions, including the possibility of a lengthy prison sentence. His arrest has garnered notable attention, including support from social media figures, emphasizing debates around free speech and platform responsibility.

Legal Precedents for TikTok

A US court has revived a lawsuit against TikTok concerning the tragic death of a ten-year-old girl, with implications that the platform's algorithmic recommendations may not be protected under Section 230 of the Communications Decency Act. This ruling takes a significant stance that suggests algorithms involve editorial decisions by the platform, prompting potential liability for harmful content that is recommended directly to users, a notable departure from previous legal interpretations.

OpenAI's Impressive Valuation

OpenAI is reportedly in discussions to raise funding that could surpass a $100 billion valuation, led by Thrive Capital and Microsoft. The pressure for capital is partly fueled by the ambitious goal of developing artificial general intelligence (AGI). OpenAI's previous funding efforts have already established significant relationships with investors, indicating a solid backing as the company aims for transformative advancements in AI technology.

F-Movies Shutdown: Anti-Piracy Victory

The anti-piracy coalition ACE announced the successful shutdown of F-movies and its affiliates, described as the largest pirate streaming operation globally. This operation attracted billions of visits, indicating the scale of content piracy. The action taken against F-movies and related sites highlights ongoing international efforts to combat streaming piracy, a significant concern for major content creators and distributors alike.

Car Companies Struggling with In-House Tech

Automakers are facing challenges with their efforts to develop in-house infotainment systems that do not rely on smartphone technologies. A recent review of GM’s 2024 Chevy Silverado revealed significant bugs and reliance on subscriptions for core features like Google Maps, raising concerns over their technology implementations. The complexities stemming from creating proprietary systems have led to unfavorable user experiences, posing threats to customer satisfaction and brand loyalty.