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1–12 of 20 notes
2026
Nvidia reported $96.2 billion of revenue against a $91.0 billion guide, then guided current-quarter gross margin down a point. The explanation sits in the CFO commentary, where supply commitments more than doubled to $279 billion, primarily to buy memory.
Nvidia has warned its largest customers that servers built around its newest AI chips will cost more than 15 percent more. The company also told investors its pricing generally does not move with short-term costs. Wednesday's margin guidance will show which is true.
The $750 billion AI figure is arithmetic performed on a rounded phrase in a JPMorgan note rather than a forecast the bank published. Amazon, Alphabet, Microsoft and Meta put roughly $295 billion of cash into property and equipment in the first half of 2026, close to double a year earlier, and not one of them discloses how much of that went to AI.
The strongest quarter of earnings growth since 2021, on the highest share of companies beating expectations since 2021. Two companies inside the index produced most of the surprise by writing up investments they did not sell.
The total federal debt passed $40 trillion on 18 August 2026, having grown by $2.90 trillion in twelve months, with the two trillions before it taking 147 and 154 days. Interest on the debt has cost more than national defense since fiscal 2024, not since this year.
Moderna added roughly $44.5bn of market value in one session, and Merck, which splits the drug's costs and profits equally, added about $42bn. The press release behind the move gives no measure at all of how large the benefit was, since the only hard numbers it carries come from a different and far smaller study.
Target earned $4.11 a share against $2.05 a year earlier, at a time when analysts had expected $2.33, and almost the whole of the difference came from a $994 million refund of tariffs. Strip the refund out and the figure is $2.46 a share by our own arithmetic, and the beat is $0.13.
Marvell has given Google the right to buy shares that Google earns by buying chips, on a schedule running to $120 billion of sales by January 2033, roughly $18.5 billion a year against total sales of about $8.2 billion last year. The agreement also names the accounting the 8-K omits, and then excludes it from Google's own count.
Alphabet booked a $99.0 billion net gain on equity securities in the second quarter of 2026. Of that, $278 million came from securities it actually sold. An NYU accounting professor explains what the rest of the number is, and what it is not.
On Holding missed second quarter expectations by roughly CHF 28 million and fell 20 percent. Currency translation had already removed about CHF 61 million from the same line, and the company now operates in a currency it does not report in.
Super Micro forecast up to $72 billion of fiscal 2027 revenue against consensus near $54 billion. Its CEO and CFO have concluded its disclosure controls are not effective, and one of the four unremediated weaknesses covers the identification of related party transactions.
At its investor day Sandisk put a $93.9 billion floor under four years of sales and told investors to expect roughly 80 percent gross margins through fiscal 2030. Fifteen months ago its gross margin was 26.2 percent.