Nvidia’s upbeat forecast signals AI build-out remains strong

Nvidia forecast first-quarter sales of about $43 billion, topping the average estimate and reassuring investors that spending on artificial intelligence computing remains strong. Fourth-quarter revenue also beat. Even so, the results fell short of a blowout some investors were banking on, and the company’s shares fluctuated postmarket. Earlier, the S&P 500 eked out a small gain.

Donald Trump appeared to offer contradictory answers about tariffs, casting uncertainty over when the duties will come into effect and which industries will be affected. He indicated 25% levies on Canada and Mexico would be implemented on April 2, while a White House official said later the deadline remains March 4. The US president also said duties on the European Union would be set at the same level.

China’s No. 4 official, Wang Huning, unveiled tougher language on Taiwan, urging efforts to “shape the inevitable reunification” as Beijing announced military drills. Trump declined to say whether the US would protect the island from invasion.

Move over Lehman Brothers, FTX is jockeying for one of the costliest bankruptcies in US history. As it approaches $1 billion, Sam Bankman-Fried’s crypto enterprise filing faced a steady increase in the cost of legal and other professional services. Hefty as it is, that outlay appears to be paying off for the platform’s creditors. Most customers are poised to get back 118% of what they were owed—a rare outcome in the Chapter 11 process.

Seven & i’s future remains uncertain. Itochu won’t join a planned bid by the founding family to take the retail conglomerate private due to disagreements on who would control the 7-Eleven operator, people familiar said. Separately, Canada’s Alimentation Couche-Tard is said to still be pursuing the holding company but has yet to access its financials.

AppLovin is the latest tech company to be targeted by short sellers, touching off a 12% drop in shares of the marketing-services provider for app developers. Shorting is a strategy where a trader benefits if a stock price declines.

• Critical reports by Fuzzy Panda and Culper Research come just days after The Bear Cave published its own cautious commentary. They effectively allege that AppLovin misrepresents the benefits of its AI advertising platform and instead “force-feeds” app installations on to phones as a way to drive up revenue.
• The stock rallied more than 700% in 2024, beating Nvidia and Broadcom to be the best performer on the Nasdaq 100 index.
• South Korea is set to lift a ban on short selling March 31. Thailand in contrast is cracking down, announcing curbs on the practice and high-frequency trading this month to restore investor confidence.
• Adani Group was the target of a daring short-selling attack in 2023 when Hindenburg Research accused the conglomerate of “the largest con in corporate history.”

DeepSeek and the global success of the animated movie Ne Zha 2 are doing wonders for the Chinese spirit, Shuli Ren writes. Their creators sprang from the middle class, providing a rare dose of confidence during a downturn and showing it’s not just about attending the best schools or being born into the right families.

YouTube has leapfrogged Spotify to become the most popular podcast platform in the US with more than 1 billion viewers a month. YouTube dedicated employees to the effort, ensured podcasters could sign up for its ad service, offered more robust analytics and recommended more podcast content to viewers and listeners. Bloomberg