Filing: Nvidia says it plans to rent $26B worth of servers over the next six years, doubling the cloud spending commitments it disclosed three months ago (Anissa Gardizy/The Information)

Elon Musk's xAI has partnered with the Saudi Arabian company HUMAIN to develop an AI supercomputing network in Saudi Arabia. This collaboration aims to enhance the country's technological capabilities and is part of a broader strategy to position Saudi Arabia as a leader in artificial intelligence. The initiative will leverage advanced computing resources, including Nvidia technology.

International markets responded positively to Nvidia's stronger than expected results, which included a 65% profit increase to $31.9 billion and a revenue rise to $57 billion. However, concerns about a potential AI bubble persist despite this financial success.

Nvidia reported a 65% increase in profit, reaching $31.9 billion, with revenue for the recent quarter rising to $57 billion. The company's CEO, Jensen Huang, has focused on artificial intelligence chips, significantly boosting Nvidia's position in the tech industry.

Nvidia's quarterly earnings report has garnered significant attention amid a lack of reliable economic data due to the government shutdown. Investors were anxious about the company's performance, particularly regarding its substantial investments in artificial intelligence. The report is expected to provide insights into Nvidia's financial health and the broader implications for the AI sector.

Nvidia reported a record revenue of $57 billion for the recent quarter, driven primarily by its data center business. The company's profit surged by 65%, reaching $31.9 billion. This strong financial performance has alleviated concerns about a potential AI investment bubble.

Nvidia reported a 62% year-over-year increase in revenue for Q3, reaching $57.01 billion, surpassing the estimated $54.92 billion. The company's data center revenue rose by 66%. Following this announcement, Nvidia's stock jumped over 5% in after-hours trading, and the company forecasted Q4 revenue above expectations.

Nokia has announced plans to separate its artificial intelligence operations from its telecommunications business, following a $1 billion investment from Nvidia. This decision comes as Nokia aims to drive growth through new technologies. The company's stock closed down 6.98% amid these developments.

Bloomberg's Caroline Hyde and Ed Ludlow discuss investor expectations ahead of Nvidia's earnings report. Nvidia CEO Jensen Huang and Tesla CEO Elon Musk are set to speak at the US-Saudi Investment Forum. Additionally, Brookfield Asset Management aims to secure $10 billion in commitments for a global AI infrastructure program in partnership with Nvidia and Kuwait's wealth fund.