Nvidia has done it again. Despite sky-high expectations and even higher whisper numbers, the AI giant delivered stronger-than-expected Q2 results, bullish guidance and a powerful message: demand remains enormous, and growth could be even stronger without supply constraints.
With Big Tech AI spending approaching extraordinary levels, Nvidia’s dominant share of the GPU market and exceptional margins continue to support the earnings story – and make its valuation look surprisingly reasonable given its growth.
But risks haven’t disappeared. Rising memory-chip prices, growing Big Tech leverage and higher global yields could limit the upside.
Beyond Nvidia, sticky inflation across the US, Europe and Asia is reviving expectations of further monetary tightening. Attention now turns to Kevin Warsh’s Jackson Hole speech. Can he restore Fed credibility, protect its independence and keep the US dollar supported?
Watch the full episode to find out more!
Intro1:11 Nvidia earnings blow past expectations, stock price rises but...
6:21 US PCE confirms: US economy needs Fed action
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