Archive August 28, 2025

Nvidia, the world’s largest manufacturer of chips, has set a new sales record, indicating that artificial intelligence is still popular despite concerns that the technology may be overhyped.

The most valuable company in the world, Nvidia, announced on Wednesday that it had earned $46.74 billion for the three months ending in July, an increase of 56% year over year.

The quarter’s profit reached $ 26.42 billion, up 59 percent from the previous quarter’s increase.

The tech giant’s most recent earnings report was eagerly awaited because it was widely believed to be a sign of the AI boom that had propelled the US stock market from an all-time high.

Production of Blackwell Ultra, Nvidia’s most recent platform, was “at full speed,” according to Nvidia CEO Jensen Huang, and the demand for the company’s products was “extraordinary.”

“Blackwell is the platform at the center of the AI race,” Jensen said.

The Santa Clara, California-based tech giant predicted revenue of $ 54 billion, or 2%, for the July-September quarter, which would be slightly above market expectations.

Nvidia’s stock price decreased by more than 3 percent in after-hours trading despite the company’s robust results, which shows how high expectations are placed on the chipmaker, which is worth more than $4.4 trillion.

Nvidia’s sales, in particular, did not include any deliveries to China, whose export laws intended to stifle Beijing’s development of artificial intelligence (AI) are in place by the US government.

Following concerted lobbying by Huang, US President Donald Trump’s administration earlier this month lifted a ban on sales of Nvidia’s H20 chip, which was created specifically for the Chinese market.

Nvidia agreed to pay the US government 15% of chip sales in China as part of the deal it made with the Trump administration.

Although Nvidia’s prospects have been hampered by a recent directive from Beijing urging local businesses to refrain from doing business with the company, the H20’s lifting raises the possibility that the company may have enormous untapped sales potential in the second-largest economy.

If the China business even comes back to life, according to The Kobeissi Letter, a newsletter published after capital markets, “just imagine what will happen to this stock.”

“Jensen Huang will undoubtedly be working overtime to improve the situation in China. The AI revolution is in full swing.

Over the past two years, Nvidia’s revenue has grown at a rate never before seen due to the explosion in demand for its AI.

Between mid-2019 and 2024, the business increased revenue by triple digits for five straight quarters.

Nvidia shares have increased by more than 11 times since the start of 2023, and the stock has increased by more than 30% this year.

The company’s impressive performance, supported by multibillion-dollar AI investments by tech giants like Microsoft, Meta, and Amazon, has sparked debate about whether artificial intelligence might be in a bubble.

On Thursday, August 28, 2018, the situation is as follows:

Fighting

• At least one person died, four were hurt, and several buildings in the city’s central Kyiv have been damaged, according to early on Thursday, according to officials in Kiev, the country’s capital.
• According to The Associated Press (AP) news agency, Russian troops have entered the villages of Novoheorhiivka and Zaporizke in the eastern Dnipropetrovsk region, a major Ukrainian industrial hub close to the Donetsk region, citing a local commander.
• More than 100 000 households were without power as a result of strikes across Ukraine on Wednesday, according to Kyiv officials, who claimed three people were killed.
• In what it called a “deliberate policy of destroying Ukraine’s civilian infrastructure on the eve of the heating season,” the Ukrainian Ministry of Energy claimed that Russian attacks were being launched against energy and gas transport infrastructure facilities in six regions.
• More than 100,000 homes in the Poltava, Sumy, and Chernihiv regions were without electricity as a result of Russian attacks, according to Ukraine’s president Volodymyr Zelenskyy.
• Local authorities said an 81-year-old woman died in an overnight attack on the regional capital and a farm was seriously damaged by heavy shelling in the southern Kherson region of Ukraine, killing two employees.
• According to Mykhailo Fedorov, the head of Ukraine’s digitalisation ministry, “the data we have is priceless for any country,” the country is considering how to share battlefield data with its allies.
• After Poland claimed it might no longer be able to pay for the 30, 000 Starlink internet systems it had backed, Fedorov added that he was confident in finding a solution to allow it to continue funding them. The largest donor of SpaceX’s satellite internet devices to Ukraine is Poland, which it uses as a crucial communication tool that is resistant to Russian hacking and jamming.

Peace talks

• President Zelenskyy called for “pressure” to be put on Russia to “force them to take real steps” toward peace after receiving “very haughty and negative signals from Moscow regarding the negotiations” on ending the conflict with Russia.
• Vladimir Putin, the president of Russia, had a number of priorities, including making an unprecedented trip to China and getting ready for an economic forum in the Russian Far East, according to Kremlin spokesman Dmitry Peskov, who refrained from calling for quick peace talks.
• Additionally, Peskov rebuffed the idea of sending Ukrainian peacekeepers from Europe, saying, “We view such discussions negatively. Russia sees in particular this “exact movement of NATO military infrastructure” into Ukraine as one of the “root causes” of the conflict, he claimed.

diplomacy and politics

• Russia’s withdrawal from the Council of Europe’s treaty on the prevention of torture has drawn criticism from Ukraine, who claims the move was a covert admission of guilt by Moscow. Russian officials have long accused Russia of torturing and torturing Ukrainian civilians and prisoners of war.
• Olha Stefanishyna, a former top cabinet minister, will be Ukraine’s next ambassador to the US, according to Zelenskyy’s decree. According to Zellenskyy, “Ukraine’s long-term security depends on our relations with America,” and she cited US military assistance as top diplomatic priorities.
• Andriy Yermak, Zelenskyy’s chief of staff, and Rustem Umerov, the head of security council, were in Saudi Arabia ahead of meetings with US administration officials in New York.

Regional security

• In response to growing concerns about Russian aggression, Germany has begun a campaign to encourage more people to join its voluntary military service.
• German weapons company Rheinmetall opened its biggest munitions factory in Europe on Wednesday, according to NATO’s Mark Rutte, who praised the move as strengthening Western defenses. At the ceremony’s opening address, Rutte stated, “This is absolutely crucial for our own security as well as to keep supporting Ukraine in its fight today and to deter any aggression in the future.”
• According to the Romanian industry ministry, the country’s industry ministry has signed a framework agreement with Rheinmetall to construct a 535 million euro ($626.3 million) factory for munitions ignition powder.
• According to a report that the cabinet approved, Germany approved a record 12.8 billion euros ($14.9) of weapons exports last year. According to the report, 64 percent of the total was approved for Ukraine, or 8.15 billion ($9.49 billion) worth of defense products.
• German Chancellor Friedrich Merz, French President Emmanuel Macron, and Polish prime minister Donald Tusk criticized what they called “hybrid attacks” and “lies” by Russians as they supported the country’s pro-European government.
• Only three NATO members are currently achieving a new, higher 3.5% target set by alliance leaders in June, according to data released on Thursday. All NATO members will now have accomplished the long-standing goal of putting 2 percent of their GDP into defense this year.
• Recep Tayyip Erdogan, the president of Turkey, formally inaugurated Turkiye’s integrated air defense system known as the “Steel Dome,” which he characterized as a turning point for the nation and its defense sector.

Economy

• According to Russian President Vladimir Putin, high interest rates imposed to lower inflation have stifled borrowing, leading to a slowing of 1.5 percent, far below the earlier 2.5 percent forecast. Despite numerous rounds of Western sanctions following its invasion of Ukraine in 2022, Russia’s war economy increased steadily to 4.1 percent in 2023 and 4.3 percent in 2024, which is much faster than that of the G7 countries. However, it is sapping sharply this year.
• In an effort to lower fuel prices, which have soared since Ukrainian attacks on refineries, Russian authorities announced an extension of the ban on gasoline exports until October 31.
• According to the AP news agency, Ukrainian drones have recently attacked refineries and other oil infrastructure in some areas of Russia, leaving drivers waiting in long lines and officials rationing or completely halting sales. Russian media reports that consumers are experiencing fuel shortages in a number of regions in the Far East and the Crimean Peninsula, which Moscow illegally annexed from Ukraine in 2014?
• According to Hungarian Foreign Minister Peter Szijjarto in a post on X on Wednesday, crude oil shipments from Russia to Hungary could resume on Thursday in test mode at lower volumes. Following Ukraine’s most recent attack on Russian energy infrastructure, Hungary and Slovakia announced on Friday that oil supplies via the Druzhba pipeline could be suspended for at least five days.
• As a result of the US President Donald Trump’s effort to punish New Delhi for purchasing Russian oil in the midst of the Ukraine war, 50% of US tariffs were implemented on a number of Indian products on Wednesday.
• Yulia Svyrydenko, the country’s prime minister, announced that Ukraine has begun a tender for the right to mine a lithium deposit site in the Kirovohrad region. In order to maintain Washington’s support in its conflict with Russia, the US and Kyiv are expected to hold the first project in a joint investment fund signed in April.

After protesters pelted his car with small rocks, bottles, and other objects, Argentina’s president Javier Milei was forced to leave a campaign rally in Lomas de Zamora, a suburb of Buenos Aires.

Before two crucial upcoming elections, Milei and La Libertad Avanza, Milei’s libertarian party, held a voter rally on Wednesday.

Local races are anticipated to take place on September 7 in the province of Buenos Aires. And on October 26, the nation will hold midterm elections that will elect a third of the Senate and a third of the 257-member Chamber of Deputies.

Milei’s presidential campaign is currently in its final year, and the elections are seen as a significant test for him.

However, Milei has faced criticism for the dramatic “shock treatment” he has attempted to give the country’s economy as a result of his dark horse election victory in 2023.

A bribery scandal involving his sister, Karina Milei, has also impacted his administration.

Witnesses reported seeing objects flying in their direction as protesters attempted to approach the open pick-up truck as Milei and Karina stood on the bed of it on Wednesday, waving to supporters and signing autographs.

On the social media platform X, presidential spokesman Manuel Adorni posted a picture with a circle highlighting what appeared to be a rock being thrown in his direction.

Adorni compared the protesters to the idea that they “could have killed anyone.” They will care less about the country and less about human life. The end”.

The pick-up truck was filmed accelerating toward the crowd. A protester raised a fake suitcase with dollar bills sticking out in odd places and Karina Milei’s face on top. “Out with Milei!” was chanted by others!

After clashes with protesters led to rib injuries, one Milei supporter was taken to an ambulance for treatment, according to the news agency AFP. However, the Milei pick-up truck’s no-fence personnel were seriously injured.

Milei himself used the incident to launch a social media campaign against the left-wing political movement known as “Kirchnerism.”

In one post, he wrote, “The empty-headed nutters throwing rocks resorted to violence again.” Let’s say at the polls that “KIRCHNERISM NEVER AGAIN” on September 7 and October 26.

In another, Milei more forcefully chose “barbarity or civilisation” in a song.

Milei’s austerity campaign has resulted in widespread government layoffs, extensive deregulation, and cuts to social safety-net services.

He famously used a chainsaw to represent the wayward he was in government bureaucracy. However, critics claim that his actions have made Argentina’s poorest citizens more vulnerable. Unemployment and poverty have increased while official statistics indicate that inflation has decreased.

His administration has been subjected to a greater backlash as a result of the bribery allegations.

Karina Milei serves as the president’s general secretary in a high-level position in Milei’s administration.

However, Milei’s close ally and national disability agency head Diego Spagnuolo is alleged to have been cut from government contracts to assist those with disabilities on audio recordings.

Spagnuolo has since fired him, and Milei has since refuted the recordings in his public appearances on Wednesday.

Milei told reporters in Lomas de Zamora, “Everything he says is a lie.” We will bring him to justice and establish his lies.