Global markets live: Apple, BASF, Nvidia, Citigroup

Nvidia reported $99bn in equity investments as of July 26, a significant increase from $7bn a year earlier. The investments include $48bn in public stocks, such as Intel and SpaceX, and $48bn in private companies. Nvidia's CFO stated these investments support growth and ecosystem development, but analysts note they also provide influence over innovation paths. Nvidia's revenue reached $96.2bn in Q2, with net income at $59.7bn, highlighting the scale of its equity portfolio.

Lululemon (LULU) reported fiscal Q2 results, missing revenue estimates and cutting its full-year outlook for the fourth time since June. Revenue fell 4% YoY to $2.42B, and adjusted EPS dropped 34% to $2.01. The company cited negative brand sentiment, weak product launches, and increased competition. LULU stock has lost over half its value this year and nearly three-quarters over five years.

Nvidia (NVDA) announced a $12.9B acquisition of Hugging Face, an open-source AI platform, to expand its AI ecosystem. The company also plans to launch stand-alone CPUs, forecasting $20B in sales. This move may challenge Intel (INTC) and AMD (AMD), which lead in CPU markets, as Nvidia aims to dominate the next phase of AI growth.

NVIDIA (NVDA) forecasted 70% revenue growth for fiscal 2028, exceeding analyst estimates. Q2 revenue doubled to $96.22B, driven by data center sales. Shares rose 8.7%. Management cited supply constraints, excluding China data center revenue. Bullish factors include strong demand and broadening customer base; bearish risks include supply chain pressures and geopolitical uncertainties.

HPE reported record Q3 revenue of $12.2B, up 34% YoY, and raised its fiscal 2026-2027 outlook. GAAP EPS was $1.06, non-GAAP EPS $1.11. AI and networking demand drove growth, with networking revenue up 74.9%. HPE forecasts Q4 revenue of $13.9B-$14.8B and raised full-year guidance.

Apple (AAPL) will host a product launch event on September 9, its first under new CEO John Ternus. Analysts expect new iPhone models, including a foldable version, Apple Watch updates, and an AI-powered assistant. Bank of America sees potential for Ternus to strengthen Apple's position in AI. Samsung welcomes Apple's entry into the foldable market, anticipating increased category visibility.