The Agentic Era

Nvidia posted $96B in quarterly revenue and guided to 70% growth next year, then agreed to buy Hugging Face for $12.9B. Trump weighed sweeping chip tariffs, cybersecurity stocks ripped on AI threats, and Instinct raised at $2.5B.

Links

• Nvidia reports Q2 revenue up 106% YoY to $96.22B, above $92.17B est., Data Center revenue up 117% to $89B, above $85.08B est., and net income up 126% to $59.7B (Nvidia)
• Nvidia guides to ~70% revenue growth next fiscal year, well above the 45% analysts expected, sending shares up as much as 7.6%, though margins will bottom at 71%-72% on memory costs (Bloomberg)
• Source: Nvidia has agreed to acquire Hugging Face for $12.9B; the AI repository has had several potential suitors among its investors, including Salesforce (The Information)
• Sources: the Trump administration is weighing sweeping new tariffs on chips and other products like laptops and consoles, despite warnings from tech companies (Politico)
• Cybersecurity stocks surge, with Okta up 20%+ and CrowdStrike up 15%+, after earnings showed that AI adoption is driving attacks and spending on security tools (CNBC)
• AI assistant Instinct is raising a $250M Series B co-led by Index and Benchmark at a $2.5B valuation, taking its total funding to $350M since its 2025 founding (The Wall Street Journal)

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