Nvidia has forecast strong growth for the first quarter, reinforcing confidence in the booming demand for AI chips. Orders for the company’s new Blackwell semiconductors were described as ‘amazing’, with CEO Jensen Huang stating that AI is advancing rapidly.
Investors had raised concerns last month after Chinese startup DeepSeek claimed to have developed cost-efficient AI models, but Nvidia’s results eased doubts.
Shares initially rose before fluctuating in extended trading, continuing a trend that has seen Nvidia’s stock surge over 400% in two years. The company generated $11 billion in revenue from Blackwell-related products in the fourth quarter, accounting for around half of its total data centre revenue.
Analysts had expressed scepticism about the transition to Blackwell and competition from DeepSeek, but the latest figures reassured investors.
Margins remain under pressure, with Nvidia forecasting a slight drop to 71% in the first quarter, below Wall Street estimates. Chief Financial Officer Colette Kress expects a recovery later in the year as production scales up and costs decline.
Despite some concerns about oversupply in AI infrastructure, Chinese firms have reportedly increased orders for Nvidia’s H20 AI chip, further supporting demand.
Nvidia’s fourth-quarter revenue rose 78% to $39.3 billion, surpassing expectations. Data centre sales surged 93% to $35.6 billion, continuing strong growth from the previous quarter.
Investors remain focused on Nvidia’s ability to maintain momentum in a competitive AI landscape, particularly as tech giants like Microsoft and Meta commit substantial investments to AI expansion.
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Australia’s corporate regulator, the Australian Securities and Investments Commission (ASIC), has launched ‘preliminary inquiries’ into WiseTech Global amid a turbulent week for the logistics software company. This comes after a series of executive changes, including the surprise return of founder Richard White as chairman. Four non-executive directors resigned earlier this week, citing differing opinions on White’s previous role as CEO, which led to his reappointment as executive chairman.
Joe Longo, ASIC’s chairman, confirmed the inquiry and stated that decisions on the next steps would be made shortly. However, WiseTech has yet to comment on the situation. The company, founded by billionaire White, has been facing mounting challenges, including media reports of misconduct, governance issues, and a declining share price.
Since October, WiseTech’s stock has dropped by approximately 14%, following news of an internal review concerning White’s actions. However, following his return, shares rose by 2.1%, reaching A$96.5 per share. The company now faces intense scrutiny as it navigates these turbulent times.
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China accused Taiwan on Wednesday of attempting to hand over its semiconductor industry to the United States, claiming that the island’s government was using the industry to gain political support from Washington. The accusation comes amid reports that Taiwan Semiconductor Manufacturing Co. (TSMC), the world’s largest contract chipmaker, may be negotiating a stake in Intel. However, neither TSMC nor Intel has confirmed the talks and Taiwan’s government says it has not received such investment proposals from TSMC.
China’s Taiwan Affairs Office spokesperson, Zhu Fenglian, suggested without providing evidence that Taiwan’s ruling Democratic Progressive Party (DPP) was using TSMC to seek foreign support for independence, accusing the island of ‘selling out’ its companies to the US. Taiwan, however, rejected these claims, with Taiwan’s Mainland Affairs Council affirming the importance of TSMC to the island’s economy and stressing its commitment to maintaining a leading role in semiconductor technology.
The US has been critical of Taiwan’s semiconductor industry, with former President Donald Trump calling for more manufacturing to return to the United States. Despite China’s claims, Taiwan maintains that it is responsible for its foreign investment decisions. The island continues to rely on the US for military support, though the US does not formally recognise Taiwan’s government.
TSMC, which supplies major companies like Apple and Nvidia, did not comment on the reports. Taiwan’s government, however, vowed to support the company amid rising tensions surrounding its semiconductor industry.
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Canada’s telecommunications regulator, the CRTC, announced on Wednesday that it will impose a fee on Google to cover the costs of enforcing the Online News Act, which requires large tech platforms to pay for news content shared on their sites. The levy, which will be implemented from April 1, will vary each year and has no upper limit. This move comes amid rising tensions between Canada and the US over issues like trade and a digital services tax on American tech firms.
The CRTC stated that most of its operations are funded by fees from the companies it regulates, and the new charge aims to recover costs related to the law. Google, which had previously raised concerns about the fairness of such a rule, had argued that it was unreasonable to impose 100% of the costs on one company. Despite this, Google has agreed to pay C$100 million annually to Canadian publishers in a deal that ensures its search results continue to feature news content.
The law, which is part of a global trend to make internet giants pay for news, was introduced last year in response to concerns that tech firms were crowding out news businesses in the online advertising market. While both Google and Meta were identified as major platforms required to make payments, Meta chose to block news from its platforms in Canada instead. Google, however, has continued to negotiate with the Canadian government, although it has yet to comment further on the CRTC’s decision.
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Intuit has projected stronger-than-expected third-quarter revenue, driven by growing demand for its AI-powered financial services and a busy US tax season.
The company’s optimistic forecast sent its shares up nearly 5% in extended trading. Chief Financial Officer Sandeep Aujla expressed confidence in the firm’s performance, highlighting a strong start to the tax season.
The company, known for TurboTax, QuickBooks, and Credit Karma, has been expanding its use of AI to enhance financial management and automation.
Intuit Assist, its AI-powered assistant, is integrated across its products to provide personalised financial recommendations and streamline tasks like bookkeeping. The firm recently launched an AI tool for QuickBooks to help small businesses manage tax and financial operations more efficiently.
Revenue for the second quarter reached $3.96 billion, surpassing Wall Street estimates, while adjusted earnings per share also exceeded expectations.
For the third quarter, Intuit expects revenue between $7.55 billion and $7.60 billion, above analysts’ projections. However, its forecasted adjusted profit per share of $10.89 to $10.95 fell short of estimates. Despite this, the company reiterated its confidence in its full-year outlook.
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Quora has unveiled a new feature on its Poe platform that allows users to create custom AI-powered applications. Named Poe Apps, the tool enables users to describe the app they want to build, and it generates the necessary code, powered by Anthropic’s Claude 3.7 Sonnet. The apps can integrate various AI models, such as OpenAI’s o3-mini or Google’s Veo 2, allowing for personalised functionality.
Once created, these apps can be run alongside Poe’s chatbot window or function as standalone web apps, with the option to adjust the underlying code manually. Poe Apps can currently be shared with other users on the web, with iOS and Android versions expected soon. While free users get a daily points allotment to use the models, premium subscribers have access to more flexible packages.
Quora has also hinted at future monetisation options for app creators, expanding the potential of Poe Apps. With this new feature, Quora is not only enabling the creation of unique apps but also setting the stage for users to earn from their AI-driven innovations.
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Meta Platforms is reportedly in talks to build a new data centre campus for its AI projects, potentially costing over $200 billion, according to sources familiar with the matter. The company is considering locations in states like Louisiana, Wyoming, and Texas, with senior executives visiting potential sites this month.
This comes as the AI sector sees a surge in investment, especially following the launch of Microsoft-backed OpenAI’s ChatGPT in 2022. Companies are eager to incorporate AI into their products, leading to significant spending on AI infrastructure.
Despite the report, a Meta spokesperson denied the claims, stating that its data centre plans and capital expenditures have already been disclosed and calling the rest ‘pure speculation’. Meta’s CEO, Mark Zuckerberg, had previously mentioned that the company plans to invest up to $65 billion this year to expand its AI infrastructure.
In comparison, Microsoft has pledged around $80 billion in data centre investments for fiscal 2025, while Amazon has indicated its 2025 spending could exceed $75 billion.
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European AI-related stocks declined for a second consecutive day on Tuesday, as concerns over Microsoft‘s data centre expansion dampened investor sentiment.
A recent analyst note suggested Microsoft had cancelled major US data centre leases, raising questions about its AI and cloud investment strategy. The uncertainty comes ahead of Nvidia’s upcoming earnings report, which is expected to provide insight into the strength of AI demand.
Companies exposed to data centres and infrastructure saw significant losses, with Germany‘s Siemens Energy and France‘s Schneider Electric continuing their declines from Monday.
Italian cable manufacturer Prysmian and Swiss engineering firm ABB also suffered losses as analysts debated whether Microsoft’s actions signalled a broader trend or a temporary reassessment. Microsoft has maintained that its AI and cloud expansion plans remain unchanged.
Market analysts remain divided, with some viewing the selloff as an overreaction and a potential buying opportunity. The volatility follows last month’s global tech downturn triggered by China‘s low-cost AI model, DeepSeek.
Nvidia’s earnings on Wednesday will be closely watched as investors assess whether AI-related stocks can sustain their high valuations in the face of shifting market dynamics.
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Apple is set to begin selling its iPhone 16 in Indonesia following a new agreement with the government, which includes the establishment of a manufacturing plant and a research and development centre. The country’s industry minister, Agus Gumiwang Kartasasmita, confirmed on Wednesday that Apple would soon receive the required local content certificate to allow sales of the device. However, he did not specify when the certificate would be issued.
Indonesia had previously banned the iPhone 16 due to Apple’s failure to meet the local content requirement, which mandates that a certain percentage of parts must be sourced domestically or through local partnerships. Although Apple has no manufacturing facilities in Indonesia, it has been operating developer academies in the country since 2018. Indonesia, with its population of 280 million, is keen to attract more tech-related investment.
Analysts have warned that the local content ban could harm investor confidence and fuel concerns about protectionism, but the new agreements between Apple and the Indonesian government may help address these issues.
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Adobe has launched Photoshop on mobile phones for the first time, introducing both a free version and a premium subscription priced at $7.99 per month. Previously, the lowest-cost subscription was $9.99 per month for iPad users.
The app is now available on Apple’s iPhone, with an Android version expected soon.
The move comes as smartphone operating systems increasingly offer built-in photo editing features similar to Photoshop. Adobe aims to attract younger users who rely on their phones for photography and content creation.
Even the free version includes features such as layer editing, masking, and text tools, making it useful for creating social media content, podcast covers, and video thumbnails.
Adobe‘s creative software remains a major source of revenue, despite missing Wall Street expectations in its 2025 forecast.
Deepa Subramaniam, Adobe’s vice president of product marketing, said the company designed the mobile app specifically for next-generation creators who use their phones as their primary editing tool.
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