英伟达财报后大涨8.8%，市值单日增超4000亿美元

THIS IS "BLOOMBERG BUSINESS WEEK DAILY." REPORTING FROM THE MAGAZINE THAT HELPS GLOBAL LEADERS STAY AHEAD WITH INSIGHT ON THE PEOPLE, COMPANIES, AND TRENDS SHAPING TODAY’S COMPLEX ECONOMY, PLUS GLOBAL BUSINESS, FINANCE, AND TECH NEWS AS IT HAPPENS. "BLOOMBERG BUSINESS WEEK DAILY" WITH CAROL MASSAR AND TIM STENOVEC. LIVE ON BLOOMBERG RADIO, TELEVISION, AND BLOOMBERG ORIGINAL. TIM: GOOD AFTERNOON, EVERYONE, LIVE FROM THE "BLOOMBERG BUSINESS WEEK" STUDIO IN NEW YORK, IT IS "BLOOMBERG BUSINESS WEEK DAILY."

I’M TIM STENOVEC. THAT IS NOT CAROL MASSAR. CAROL IS OUT THIS WEEK AND NEXT. THAT’S LISA MATEO FROM "BLOOMBERG THIS WEEKEND." SHE HAD SO MUCH FUN YESTERDAY, SHE’S BACK TODAY. NOT THAT YOU HAD A CHOICE. LISA: YOU DIDN’T SCARE ME, I’M GOOD. TIM: GOOD. WE ARE HAPPY TO HAVE YOU BACK. WE TALKED YESTERDAY A LOT ABOUT NVIDIA, AND THAT’S WHAT TODAY’S TRADE IS ALL ABOUT. LISA: YEAH, THEY SAID REVENUE WAS GOING TO GROW THE NEXT FISCAL YEAR, SO THAT WAS A HUGE LAUNCHING POINT FOR THEM.

TIM: WE’RE GOING TO GET MORE DETAILS FROM CHARLIE PELLETT ON THE TRADE IN JUST A MINUTE. IN THE MEANTIME, ON NVIDIA, WE’VE GOT IAN KING JOINING US, OUR SEMICONDUCTOR REPORTER. HE’S GOING TO TALK ABOUT WHAT NVIDIA EXECUTIVES SAID ON THE CALL YESTERDAY THAT GOT INVESTORS SO BULLISH. ALSO, IT’S NOT JUST ABOUT NVIDIA, IT’S ALSO ABOUT JACKSON HOLE. LISA: YEAH, AND YOU HAVE TOM KEENE OUT THERE, MIKE MCKEE, LISA ABRAMOWICZ OUT THERE, AND THEY’RE GOING TO HAVE THIS WHOLE LIVE SPECIAL TOMORROW.

BUT WE’RE GOING TO SPEAK WITH MIKE LATER. TIM: YEAH, IT’S A TOUGH ASSIGNMENT, BUT SOMEBODY HAS TO DO IT. SOMEBODY HAS TO BE IN THE MOUNTAINS. YEAH, WE’RE GRATEFUL THEY’RE GOING TO JOIN US. WE’LL ALSO HEAR FROM JACK MAN LIVE FROM J.P. MORGAN. WE’LL TALK NVIDIA, MACRO IN JACKSON HOLE WITH HIM AS WELL. NINA IS GOING TO JOIN US FROM THE C.F.O. BRIEFING NEWS LETTER. WE’RE ALSO GOING TO SPEAK WITH THE C.F.O. OF S&P GLOBAL ON ITS MOBILITY SPINOFF AND WHAT ALL OF THAT RAIDING THE A.I.

DEBT HAS DONE FOR THE COMPANY AND WILL CONTINUE TO DO FOR THE COMPANY. AND OUR COVERAGE CONTINUES ON LANDMARK SETTLEMENT FROM META PLATFORMS. WE’RE GOING TO DIG INTO THAT LATER THIS HOUR. ALL THAT AND MORE COMING UP OVER THE NEXT HOUR RIGHT HERE ON "BLOOMBERG BUSINESS WEEK DAILY." FIRST UP, A CHECK OF THE TOP BUSINESS STORIES. HERE HE IS, CHARLIE PELLETT. CHARLIE: THE BIG QUESTION, WILL MICHAEL MCKEE BE WEARING THAT COWBOY HAT OR NOT FROM JACKSON HOLE?

WE’LL FIND OUT A LITTLE LATER ON RIGHT HERE ON "BLOOMBERG BUSINESS WEEK DAILY." STOCKS HIGHER RIGHT NOW. THE DOW, THE S&P, NASDAQ ALL ADVANCING. AND WE HAVE GOT NVIDIA SHARES RALLYING TODAY. NVIDIA, AFTER EARNINGS, NOW UP BY 8.9%. IAN KING WILL HAVE MORE COMING UP. BUT AGAIN, BEARS REPEATING, NVIDIA, AFTER LAST NIGHT’S TURNAROUND EARNINGS REPORT, RIGHT NOW UP BY 8.8%. YOU’LL RECALL, AS THE NUMBER WE SAW NVIDIA SHARES SELL OFF, REBOUNDED AFTER THE CONFERENCE CALL.

RIGHT NOW NVIDIA UP BY 8.8%. S&P HIGHER BY .7% AM DOW INDUSTRIALS UP 123, A GAIN OF .2%. NASDAQ UP. NVIDIA DRIVING THE NASDAQ 100 INDEX UP BY 1%. ALSO GIG A LIFT TO THE SOX, THE PHILADELPHIA SEMICONDUCTOR INDEX, UP BY 1.5%. TWO-YEAR AT 4.23%. THE 10-YEAR AHEAD OF KEVIN WARSH’S COMMENTS, REMARKS TOMORROW, 4.67%. AND THE 30-YEAR, 5.19%. GOLD UP $12 AN OUNCE TO $46.03, UP BY .3%. AND RIGHT NOW, CRUDE IS HIGHER BY 2.3%. BRENT BACK ABOVE 90, UP BY 2.6%.

AMONG SOME OF THE OTHER CHIP NAMES, LOOKING AT A.M.D. ADVANCED MICRODEVICES IS DOWN. BROADCOM SHARES UP BY 3.3%. AND PERHAPS GETTING LOST IN THE SHUFFLE HERE, WE HEARD FROM CLOUD STRIKE LAST NIGHT, THAT STOCK IS UP BY 19%. SALES FORCE AFTER EARNINGS LAST NIGHT UP BY 22%. BUT OBVIOUSLY THE BIG STORY TODAY, NVIDIA. BEARS REPEATING ONE MORE TIME, UP BY 8.7%. LISA AND TIM, THAT’S A BLOOMBERG BUSINESS FLASH. TIM: THANKS, CHARLIE.

IT IS ALL ABOUT NVIDIA TODAY, UP 8.7%. I WANT TO BRING IN IAN KING. HE IS OUR SEMICONDUCTOR REPORTER AND JOINS US FROM SAN FRANCISCO. IAN, NVIDIA ADDING MORE THAN $400 BILLION IN MARKET COMPANY JUST TODAY. NVIDIA SHARES WERE UNDER PRESSURE BEFORE THEY STARTED, BEFORE THE CALL STARTED YESTERDAY. WHAT DID EXECUTIVES SAY ON THE CALL THAT CHANGED THE TONE? IAN: YOU’RE ABSOLUTELY RIGHT. THEY GAVE A GOOD FORECAST. THE REACTION WAS OK, GREAT, THANKS.

STOCK DOWN BY 2%, WHICH IS REALLY THE PATTERN WE’VE SEEN THROUGHOUT THE LAST FEW EARNINGS, AND THEN ALL THE SUDDEN THE C.E.O. COMES ON AND SAYS, LOOK, 70% GROWTH NEXT YEAR, WHICH IS COMPARED TO 45% THAT WALL STREET WAS EXPECTING. AND THEN SAYS, AND GUESS WHAT, IF WE HAD ENOUGH SUPPLY, WE COULD DOUBLE. LISA: DID NVIDIA DO ENOUGH TO TALK ABOUT CIRCUMSTANCE LAB SPENDING? TODAY WE HEARD ABOUT NVIDIA REPORTEDLY LOOKING TO ACQUIRE HUGGING FACE.

DID THEY DO ENOUGH TO TALK ABOUT THAT CIRCULAR SPENDING? IAN: WELL, WHETHER IT’S ENOUGH OR NOT IS OBVIOUSLY INVESTORS WILL DECIDE. BUT WHAT THEY DID WAS GIVE AN EXTREMELY DETAILED BREAKDOWN OF ALL OF THE COMMITMENTS THAT THEY’VE MADE, WHETHER IT’S COMMITMENTS TO FUTURE SUPPLY, WHETHER IT’S KIND OF LOAN GUARANTEEDS, WHETHER IT’S HELPING OUT WITH THE NEW BUILD, THE BUILD OF DATA CENTERS, AND THEY JUST SPELLED IT ALL OUT.

THE BOTTOM LINE THEY SAID WAS, LOOK, IN THE GRAND SCHEME OF THINGS, IF YOU BELIEVE IN OUR GROWTH AND WHERE WE’RE GOING TO BE, THIS ISN’T A LOT OF MONEY. TIM: HUGGING FACE, DOES IT MAKE SENSE, IAN, FOR NVIDIA TO MAKE AN ACQUISITION LIKE THIS? I KNOW LISA JUST ASK YOU ABOUT THIS DEAL, BUT IT SURPRISED ME AS WELL, BECAUSE IT SEEMS A LITTLE BIT OUT OF THE CORE BUSINESS FOR NVIDIA. IAN: NVIDIA HAS BEEN POURING MONEY INTO PRETTY MUCH EVERY PART OF WHAT IT DESCRIBES AS THE A.I.

SUPPLY CHAIN, THE LAYERS THAT JENSEN HUANG, THE C.E.O., LIKES TO TALK ABOUT. SO ANYTHING THAT THEY’RE DOING REALLY SHOULDN’T BE THAT SURPRISING, ALTHOUGH ONE OF THE VALUES OF HUGGING FACE IS IT’S KIND OF A BIZARRE A.I. MODEL, SO I’M NOT SURE WHAT NVIDIA’S OWNERSHIP OF THAT WOULD BRING AND HELP IT WITH, BUT THEY’VE BEEN PUTTING MONEY TO WORK EVERYWHERE. LISA: I WANT TO TOUCH ON HYPER SCALERS. DID THE COMPANY SHOW THERE’S DEMAND BEYOND HYPER SCALERS?

IAN: THAT’S A VERY GOOD QUESTION, AND THIS WAS A KEY POINT THAT INVESTORS WERE LOOKING FOR. THIS SEGMENT THAT THEY HAVE IN TERMS OF BREAKING UP THE REVENUE OF SORT OF SMALLER COMPANIES, YOU KNOW, STARTUPS, ALL OF THESE COMPANIES THAT AREN’T BUILDING THESE ENORMOUS DATA CENTERS. WHAT NVIDIA SHOWED WAS THAT SEGMENT IS NOW $40 BILLION OF REVENUE AND GROWING FASTER THAN HYPER SCALERS, WHICH IS DEFINITELY WHAT INVESTORS WANTED TO HEAR FROM THEM.

TIM: WE HAD NO IDEA IT WOULD BE THIS BIG. IAN KING, HE COVERS IT ALL OUT THERE, IF IT’S SEMICONDUCTOR-RELATED. HE’S OUR REPORTER FOR BLOOMBERG NEWS, OUT THERE IN OUR SAN FRANCISCO BUREAU. IAN, THANKS SO MUCH. NVIDIA IS THE STORY WITH TODAY’S TRADE, BUT IT’S ONLY PART OF THE STORY. THE OTHER PART IS THE JACKSON HOLE ECONOMICS SYMPOSIUM. THAT’S WHERE WE FIND MICHAEL MCKEE, OUR INTERNATIONAL ECONOMICS CORRESPONDENT. THE COUNTDOWN IS ON TO HEARING FROM FED CHAIR KEVIN WARSH TOMORROW.

WE’RE ALREADY HEARING FROM FED OFFICIALS, YOU SPOKE WITH THE KANSAS CITY FED PRESIDENT THIS MORNING. WHAT DID HE TELL YOU? MIKE: BASICALLY HE’S IN FAVOR OF RAISING INTEREST RATES, THAT INFLATION HAS BEEN TOO HIGH FOR TOO LONG, AND HE DOESN’T THINK IT’S GOING TO BE GOING DOWN FAST ENOUGH THAT THE FED IS TOO LOOSE AND NEEDS TO TIGHTEN. LISA: AND TOMORROW, OF COURSE, A BIG DAY WITH KEVIN WARSH TALKING FOR THE FIRST TIME AT THE EVENT.

WHAT DO YOU EXPECT HE’S GOING SEE? IS HE GOING TO TALK ABOUT INFLATION? HE’S KIND OF BEEN TIGHT-LIPPED ABOUT IT. MIKE: HE’S BEEN VERY TIGHT-LIPPED ABOUT IT, AND WALL STREET HAS ALREADY PROTESTED BY RAISING INTEREST RATES, CERTAINLY AFTER HIS LAST NEWS CONFERENCE ON JULY 29. SO THERE’S DIVISION OVER WHETHER HE THINKS HE SHOULD SAY SOMETHING TO RELIEVE WALL STREET OR JUST CONTINUE AVOIDING THE SUBJECT ALTOGETHER. IT’S KIND OF A QUESTION OF WHAT MARKET REACTION WILL BE WORSE.

MY GUESS IS HE SPLITS THE BABY IN HALF AND SAYS SOMETHING ALONG THE LINES OF IF INFLATION DOESN’T COME DOWN, OF COURSE WE WILL