TNB Tech Minute: Nvidia Beats Wall Street Expectations
WSJ Tech News Briefing
Deep Dive
Shownotes Transcript
KPMG makes the difference by creating value, like developing strategic insights that help drive M&A success and embedding AI solutions into your business to sustain competitive advantage, or deploying tech-enabled audits to deliver more accurate and transparent outcomes. KPMG drives brighter insights, bolder solutions, better outcomes.
It's how our people make the difference every day. KPMG, make the difference. Learn more at www.kpmg.us slash insights. Here's your T&B Tech Minute for Wednesday, February 26th. I'm Julie Chang for The Wall Street Journal.
Starting with earnings, NVIDIA beat Wall Street expectations. The chip giant reported sharply rising sales and earnings in its latest quarter. It said sales rose 78% to over $39 billion in the quarter. Net income rose 80% to $22 billion. NVIDIA's growth has been powered by its artificial intelligence chips for more than two years, a boom that has yet to subside.
Amazon's Alexa is getting smarter. The company revealed a revamped version of its voice assistant, Alexa Plus, at a live event today. The company says it has more personalized and conversational generative artificial intelligence features. Alexa Plus will begin to roll out to Prime members on some Echo devices next month.
Non-Prime members can also pay roughly $20 a month for Alexa Plus. Amazon executives say what makes Alexa Plus unique is its ability to integrate with smart home devices. CEO Andy Jassy also said Amazon's massive cloud business gives it a big advantage in developing and providing generative AI services to its customers and clients alike.
And America's oldest bank, BNY, has signed a multi-year deal with OpenAI. Under the agreement, BNY will gain access to cutting-edge OpenAI tools such as DeepResearch and its most advanced reasoning models. They say it'll supercharge the bank's internal AI platform, ELISA, which it launched last year. In return, OpenAI said it hopes to gain insight into how well its models work for complex tasks in the real world.
Terms of the deal weren't disclosed. News Corp, owner of The Wall Street Journal, has a content licensing partnership with OpenAI. For a deeper dive into what's happening in tech, check out tomorrow's Tech News Briefing podcast.
Washington Wise is an original podcast for investors from Charles Schwab that unpacks the stories making news in Washington and how they may affect your finances and portfolio. Listen at schwab.com slash Washington Wise.