Nvidia's revenue in the current period will be about $24 billion. Analysts had predicted $21.9 billion on average. "Accelerated computing and generative AI have hit the tipping point," CEO Jensen Huang said in a statement.

Santa Clara

Nvidia stock dips after revenue beat

revenue in the most recent quarter, the fourth quarter, $22.1 billion. The street on average was looking for 20.41, so a beat on the revenue side here. Gross margins in the quarter, wow, 76.7 percent. That was their adjusted gross margin in the fourth quarter, a beat versus what the street was looking for for 75.4. Data center revenue in the quarter also beat 18.4 billion. The street was looking for 17.2 billion. Gaming revenue also a beat. Automotive revenue also a beat here as well. Here's your forecast going forward. For the first quarter, the company says revenue will come in at about $24 billion, plus or minus 2 percent. The street on average was looking for 21.9, so we'll just round that up to about $22 billion here. So it looks, Gina Martin-Adams, like at least on some of the main metrics here, they did appear to be here, but not by a huge margin, and you're seeing that maybe reflected in the stock market reaction. Yeah, though I'd say down 2 percent looks like a light day for Nvidia as of late. Nonetheless, it does appear that they had great numbers across the board, as far as I can tell. I'm curious what Kunjin thinks, but it looks like they had pretty great numbers. It just wasn't quite enough to sustain what had been a really high-flying stock price. And Kunjin, maybe you can weigh in here. I know you haven't had a whole lot of time to look at this, but I think what jumps out at me is not just the revenue growth. I mean, a company that, let's face it, had about half this revenue just three quarters ago, but also gross margins. I mean, that's insane. 77 percent gross margins? I mean, where is that coming from? Yeah, and it's really reflected in driving from the data center business. Look, Nvidia right now is not selling chips. It's selling data center systems and is enjoying gross margins as high as a software company. So they have a lot of pricing power. Another thing is as their H200s continue to ramp and become a larger portion of their GPU penetration, that is really also helping them with their ASP. So again, everything is going their way. In fact, we expect the B100 to be announced soon, and that will again be a tailwind to gross margins for the rest of the year. What do you think, Kunjin? What does this mean for the rest of the space? I mean, you've got a super microcomputer now down 4 percent post-market after these Nvidia results. What do you think the read-through is for the rest of the space after these results? I think the read-through is really positive, and it should ease some of the concerns that some folks are having whether the AI rally can continue in 24. You know, the upside, even though less than 10 percent, but still validates that a supply is coming on better as planned. But more importantly, that the demand strength is there. And like I said, again, I would like to hear more on the demand from the enterprise side when it comes to AI spending, because that should signal for the entire space that the AI rally is at least going to continue. All right, Kunjin Sabani over at Bloomberg Intelligence. I really love having him here to get that instant reaction and analysis to these numbers.

Mexican authorities say three bodies have been found in an area where two Australian brothers and their American travel companion are missing. It follows the arrest of three people in relation to their disappearance.

Baja California

Bodies found in search for missing Perth brothers

China has launched an uncrewed spacecraft on a nearly two-month mission to retrieve rocks and soil from the far side of the moon, the first country to make such an ambitious attempt.

Wenchang

China launches mission to far side of the moon

Britain's opposition Labour Party won a parliamentary seat in northern England on Friday (May 3) and control of several councils, inflicting heavy losses on the governing Conservatives to pile more pressure on Prime Minister Rishi Sunak.

London

U.K.'s Labour claims big early win over Conservatives

Turkey has announced that it is halting trade with Israel, worth $7 billion a year, until a permanent ceasefire and humanitarian aid are secured in Gaza. Israel denounced the decision as breaking trade agreements.

Ankara

Turkey to stop trade with Israel until Gaza ceasefire

Media watchdog group Reporters Without Borders warned of declining government support for press freedom as it unveiled its annual world rankings on Friday, highlighting Argentina among the countries where the situation has deteriorated.

Paris

States doing less to support press freedom, says watchdog

Arizona's Democratic governor signed a bill overturning an 1864 law banning abortion, a month after the state's supreme court said the Civil War-era rule was valid.

Arizona

Arizona governor signs bill repealing 1864 abortion ban

U.S. President Joe Biden said that both freedom of speech and the rule of law must be respected in protests at college campuses over Israel's war in Gaza. In response to a reporter's question, Biden said that the campus protests had not forced him to reconsider his policies in the Middle East.

Washington

Biden breaks silence on protests at University Campuses

From suspensions to expulsions to criminal charges, college students across the U.S. involved in these pro-Palestinian protests could face life-changing consequences. Some are demanding amnesty for these protesters.

New York

More than 1,000 student protesters arrested across U.S.

English voters are heading to polling stations to pick mayors, councilors and a new lawmaker in the last electoral test for British Prime Minister Rishi Sunak before a national vote later this year.

Voters head to polls in last test for U.K.'s Sunak

The US State Department accused Russia of having used a chemical weapon against Ukrainian forces in violation of the Chemical Weapons Convention, while also announcing fresh sanctions against Moscow. In addition to the chemical agent chloropicrin, Russia also used "riot control agents (tear gas) as a method of warfare in Ukraine, also in violation of the CWC," the department said in a factsheet.

Zaporizhzhia

Ukraine Invasion

U.S. accuses Russia of using chemical weapons in Ukraine

There are grave concerns for Perth brothers Jake and Callum Robinson who are missing on a surf trip in Mexico's Baja region. The pair have failed to arrive at their accommodation and are not responding to contact from their families.

Council of the City of Sydney

Grave fears for brothers missing on Mexico surf trip

Federal Treasurer Jim Chalmers has kept open the prospect of tax incentives in the budget as business warned that changes to foreign investment laws. It comes amid criticism that budget spending could prompt further inflation and prompt rate rises.

Government hints at further tax incentives in Budget

Colombian President Gustavo Petro says his country will break diplomatic relations with Israel. He's criticised Israel's conduct since the start of the war on Gaza. Petro requested to join South Africa's case at the International Court of Justice accusing Israel of genocide.

Bogotá

Israel-Gaza War

Colombia ends diplomatic relations with Israel

U.S. Secretary of State Antony Blinken met Israeli Prime Minister Benjamin Netanyahu on Wednesday, pushing to get more aid into Gaza, while urging Hamas to accept a deal that would halt fighting and bring some hostages home from the enclave.

Jerusalem

Blinken pushes for sustained aid into Gaza during Israel trip

Police in Georgia fired teargas and rubber bullets at protesters demonstrating against a bill that would require organizations – including media and NGOs – that receive more than 20 percent of their funding from abroad to register as agents "pursuing the interests of a foreign power." The bill has been dubbed the "Russian law" by its detractors.

Tbilisi

Thousands protest against Georgia's 'foreign influence' bill

A diplomatic push is underway to reach a ceasefire in Gaza, with the U.S. exerting pressure on Hamas to agree to Israel's terms. But Israeli Prime Minister Benjamin Netanyahu has vowed to attack Rafah in southern Gaza, whether there's a ceasefire or not.

Netanyahu vows to invade Rafah 'with or without' ceasefire deal

Qantas has apologised to customers after its app exposed personal passenger data. The airline blames a technical disruption and says the data breach was not a cyber security incident.

Qantas app data breach exposes customer data

The International Court of Justice has ruled against issuing emergency measures over German arms sales to Israel as requested by Nicaragua, which had argued that there was a serious risk of genocide in Gaza amid Israel’s assault on the Palestinian territory.

The Hague

ICJ rejects measures over German arms exports to Israel

New York police have entered Columbia University and arrested protesters barricaded inside a building who have been calling on the New York school to divest itself from companies associated with Israel.

Police enter Columbia University, arrest protesters

A smiling and healthy-looking King Charles returned to public duties on Tuesday (April 30) for the first time since he was diagnosed in February with cancer, paying a visit to a treatment center for the disease in London.

King Charles returns to public duties, visits cancer center

A 14-year-old boy is dead and multiple people injured after a daylight sword attack in Hainault, in east London. The alleged attacker tasered and arrested by Police shortly afterwards.

Hainault

Teenage boy killed in London sword attack

Brittany Higgins has failed in a bid to delay a defamation trial brought against her by Senator Linda Reynolds over social media posts made in July last year. Fiancé David Sharaz, also named in the case, calling for the Senator to drop the case.

Canberra

Brittany Higgins fails in bid to delay defamation trial

Since taking office four months ago, Argentina's new president Javier Milei has slashed public employment in an effort to cut the country's deficit. So far, 24,000 people have been let go, and Milei has said he wants that figure to hit 70,000, about 10 percent of overall government employees.

Buenos Aires

Argentina's Milei slashes 24,000 government jobs

A Russian missile attack on an educational institution in a popular seafront park in the Ukrainian Black Sea port of Odesa killed at least five people and injured 32, local officials said. Odesa has been a frequent target of Russian missile and drone attacks, particular port infrastructure.

Odesa

Russian missile attack kills five in Ukraine's Odesa

Scotland's leader Humza Yousaf resigned, further opening the door to the UK opposition Labour Party regaining ground in its former Scottish heartlands during a national election expected to be held later this year.

Edinburgh

Scotland's First Minister Humza Yousaf quits

A 17-year-old girl charged with the stabbing murder of her 10-year-old sister in a suburb of Lake Macquarie in New South Wales will remain in custody.

Lake Macquarie

Teenager faces court over murder of 10-year-old sister

Columbia University began suspending pro-Palestinian activists who refused to dismantle a tent encampment on its New York City campus after the Ivy League school declared a stalemate in talks seeking to end the polarizing protest.