Nvidia's Historic Quarter, SaaS Comeback, Bessent vs Druck, America's Debt Crisis, Cancer Vaccine

Nvidia reported $96.2 billion in revenue for the quarter — up 106% year over year, more than doubling Wall Street's $92 billion expectation — while Salesforce surged over 20% after its own earnings, shredding the narrative that SaaS was dead. But the biggest story may be the one nobody wants to talk about: the U.S. government is heading toward a fiscal crisis that could reshape everything.

Nvidia and Salesforce: Two Kinds of AI Winners

Nvidia's quarter was historic by any measure. The company generated $60 billion in net profit, which the hosts called the most profitable core business quarter of any public company ever. Gross margins hit 75%. But the stock was up only 8% on the news, and the company trades at just 12 times earnings — a reflection of persistent fears about competition from custom silicon by hyperscalers and rivals like Cerebras. What surprised the market was Nvidia's guidance: 70% growth next year, well above the 45% the Street expected. The company said the number would have been higher if not for supply constraints.