What we’re reading (2/25)
“Nvidia Beats Back Bubble Fears With Record $68 Billion In Sales In Fourth Quarter” (Wall Street Journal). “Nvidia reported a 94% increase in profit and record sales for the fourth quarter, helping ease concerns over a possible artificial-intelligence bubble that rippled through markets in recent months.”
“Nvidia Beats On Q4 Expectations And Offers Better-Than-Anticipated Q1 Outlook” (Yahoo! Finance). “Nvidia (NVDA) reported its fiscal fourth quarter results after the bell on Wednesday, beating analysts' expectations on the top and bottom lines. The company also offered Q1 guidance between $76.44 billion and $79.56 billion, above Wall Street's estimates of $72.8 billion.”
“Salesforce Shares Sink On Mixed Guidance As Company Commits $50 Billion For Buybacks” (CNBC). “Salesforce shares tumbled 5% in extended trading on Wednesday after the customer service software maker reported healthy results, although its fiscal 2027 revenue view trailed Wall Street projections.”
“Refine” (John Cochrane). “I recently tried refine, an AI tool for refining academic articles, developed by Yann Calvó López and Ben Golub. I sent it the current draft of my booklet on inflation, to see what it can offer. I just used it once so far, with the free trial mode. I will be a regular user forever. The results are stunning. The comments it offered were on the par of the best comments I’ve received on a paper in my entire academic career. And more concise and organized than the best ones. They aren’t perfect, but the kind of analysis the program is able to do is past the point where technology looks like magic. I don’t know how you get here from ‘predict the next word.’”
“The Tax Nerd Who Bet His Life Savings Against DOGE” (Wall Street Journal). “Cole is a 37-year-old tax economist with Ivy League degrees, a mortgage and a young child. Until Elon Musk’s Department of Government Efficiency came roaring into the nation’s capital last year, he was largely a plain-vanilla investor or, as he puts it, a ‘normal, conventional Wall Street Journal-reading adult.’ But Musk’s boasts and his eager fans brought an unusual opportunity into the burgeoning U.S. prediction markets: People willing to bet that the world’s richest man would transform and shrink the federal government. Cole took the opposite position[.]”
