💻📊 NVDA Keeps Printing

and

May 27, 2024

Happy Memorial Day Sunday Everyone,

Got back from Baltimore late Friday and spent yesterday decompressing and getting my life back in order. The graduation was really nice to attend and it was great to see my sibling finish undergrad! I also visited Baltimore’s national aquarium and not only saw sharks being fed, I got to check out the saltwater tanks with some really beautiful fish. In addition, they have two sloths at the aquarium in the ‘amazon rainforest’ section, which was AMAZING. I’ve only ever seen sloths one other time in my life when I took a high school trip to Panama - they’re awesome, they really do move quite slowly and sleep all day. Sounds like a dream.

In personal finance news, I’ve been thinking about downgrading my Chase Sapphire Reserve, and then re-applying to it after a few days. Apparently this is a “hack” (might be a little frowned upon) where you can become re-eligible for the signup bonus if you’ve had the card for more than 4 years. I’ve been wanting to take a trip with Chase points so I’ll let you guys know if I do this lol.

Enjoy this week’s Sunday Primer!

- Humphrey, Tim & Rickie

Market Report

Nvidia Continues to Impress, Announces 10-1 Stock Split

Nvidia saw its shares surge after a strong sales forecast, projecting second-quarter revenue of about $28 billion, beating analyst expectations.
- Major customers like Amazon, Meta, Microsoft, and Google are driving sales, but Nvidia is expanding into broader markets including consumer internet, automotive, and healthcare.

Nvidia also thrilled investors by announcing a 10-for-1 stock split, potentially inspiring similar actions from other high-priced tech firms, according to Bank of America.
Although stock splits don't change the actual value of an investor's stake, they can make shares seem more accessible, particularly to retail investors.
- Nvidia's current share price, around $1,000, will convert to ten shares at approximately $100 each.

Lilly Invests $5.3 Billion to Boost Weight-Loss Drug Supply

Eli Lilly announced a historic $5.3 billion investment to expand its Indiana site for producing tirzepatide, a key ingredient in weight-loss and diabetes medications amid ongoing shortages.
The new facilities, expected to be operational by 2028, are part of a broader US manufacturing revival aimed at bolstering supply chain resilience and reducing dependence on foreign production, particularly from China.

Taiwan Says Chip Machines Can Be Shut Off If China Invades

Taiwan's new technology minister, Wu Cheng-wen, confirmed that machines, including advanced chipmaking tools from ASML and TSMC, can be remotely disabled in the event of a conflict, responding to rising tensions with China.
This capability is particularly relevant as China's military activities around Taiwan intensify, causing global concern given TSMC's crucial role in producing advanced semiconductors.

Musk’s xAI Nears Close of Deal Valuing Startup at $24 Billion

Elon Musk's AI startup, X.AI Corp., is nearing the completion of a funding round potentially valuing the company at over $24 billion, with ambitions to raise up to $6.5 billion.
X.AI, a competitor to OpenAI, has been marketed to investors highlighting Musk's successes at Tesla and SpaceX, and will leverage data from Musk's social platform, X (formerly Twitter), to develop its chatbot, Grok.
Musk aims for X.AI to be a "truth-seeking" AI, contrasting it with what he views as politically correct models from competitors.