SpaceX just gave Nvidia investors a new reason to watch

Nvidia reportedly agreed to acquire AI platform Hugging Face for $12.9B, according to The Information. Nvidia previously backed Hugging Face in a 2023 funding round. Nvidia forecasted a 70% revenue increase for the next fiscal year and has $18B committed to equity investments by fiscal 2027.

Asian stocks rose on Aug 27 after Nvidia's earnings and forecast exceeded estimates, boosting tech hardware manufacturers. Nvidia's shares gained 4.7% in after-hours trading. South Korea's Kospi rose 1.5% despite a rate hike. US inflation data showed a 0.2% increase in July PCE. Brent crude fell 0.7% to $87.20.

The U.S. is investigating Apex Logistics for allegedly shipping Nvidia (NVDA) AI chips to China via Super Micro Computer (SMCI) systems, potentially violating export restrictions. The probe, led by the Commerce Department, focuses on 47 shipments in 2024. Apex and its parent Kuehne & Nagel (KNINz) are cooperating. Nvidia stated it follows export controls and identifies circumvention attempts.

Nvidia reportedly agreed to acquire Hugging Face for $12.9 billion, according to The Information. The deal, if confirmed, would be one of Nvidia's largest acquisitions and highlights its focus on AI. Hugging Face, which hosts open-source AI models, reported $150 million in annualized revenue. Nvidia previously invested in Hugging Face and other AI developers. Nvidia forecast a 70% revenue jump for the next fiscal year.

Nvidia expects a 70% revenue increase in the next fiscal year, driven by strong AI demand. The company warned of supply constraints. Its stock rose 5% in after-hours trading.

Nvidia (NVDA) reported Q2 revenue of $96.2B, up 106% YoY, beating estimates. Gross margin rose to 75%, and adjusted EPS jumped 120% to $2.22. CEO Jensen Huang forecast 70% revenue growth, up from Wall Street's 45% expectation. The stock rose 4.4% in after-hours trading. Nvidia's data center revenue grew 117% to $89B, showing dominance in AI chips.