Nvidia Stock (NVDA) Closes at Record High
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NVDA stock closed at $182.70, which is a record high on a split-adjusted basis. The chipmaker's stock has now risen 36% this year and hit 19 all-time highs in the process. The latest peak comes on optimism related to a new AI model from OpenAI and the potential for increased spending by Tesla (TSLA), both of which should positively impact Nvidia's sales.
Nvidia's shares have now increased nearly 75% over the last 12 weeks, giving the company a market capitalization of $4.46 trillion and making it the most valuable publicly traded company in the world.
Tariffs
NVDA stock also got a boost this week when it was announced that there are widespread exemptions from U.S. President Donald Trump's proposed 100% tariff on microchip imports for companies such as Nvidia. The Silicon Valley-based chipmaker announced this spring that it plans to develop up to $500 billion in AI infrastructure in the U.S. over the next four years.
News that privately held OpenAI launched GPT-5, its latest chatbot, is seen as good news for Nvidia's chip sales. OpenAI CEO Sam Altman recently named Nvidia a key partner. Additionally, Nvidia could receive more cash from Tesla, which is downsizing its internal microchip lineup and disbanding its supercomputer team.
Tesla is expected to rely more on hardware and microchips from Nvidia moving forward.
Is NVDA Stock a Buy?
The stock of Nvidia has a consensus Strong Buy rating among 38 Wall Street analysts. That rating is based on 34 Buy, three Hold, and one Sell recommendations issued in the past three months. The average NVDA price target of $186.24 implies 1.94% upside from current levels.
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Business Insider
a few seconds ago
- Business Insider
Burrito bowl blues
In 2017, Jacob Schneider, then 16, landed his first job at a Chipotle in Lawrence, Kansas. It offered "decent" pay for a person his age, he says, above minimum wage, as well as robust training. "I learned how to do my job really fast," he tells me. "I didn't notice a lot of bad things at first," he says. But eventually, he felt, training quality started to decline. Breaks got shorter. Equipment would break and not get fixed; a cooler was out of operation for about a year, Schneider says. "A lot of corners were being cut over time." The deterioration took its toll. "The morale of the whole store was basically terrible," he says. When he started, people rarely talked about leaving. By last year, the most common topic he and his coworkers discussed was how much they wished they could quit. "It was just getting worse and worse and worse." Schneider was witnessing Chipotle making a sharp U-turn. Founded in 1993 by Steve Ells, a former sous chef at a San Francisco fine dining pioneer, Chipotle became an elevated fast food juggernaut with more than 3,700 locations around the world, going public in 2006. But the company suffered a series of food-borne illness outbreaks starting in 2015, when 60 people were sickened across nearly a dozen states. All restaurants closed for half a day in February 2016 to deal with food safety. Then another norovirus outbreak hit in 2017. Ells stepped down as CEO a few months later, and he was replaced by Brian Niccol, who had just served as CEO of Taco Bell. Niccol led a dramatic turnaround. The efficiency-focused changes he put in place — including order screens, delivery, and "Chipotlanes" drive-throughs — helped the company's annual revenue surge from $4.9 billion in 2018 to $11.3 billion in 2024. Its stock jumped tenfold, from $6 a share in early 2018 to more than $60 when Niccol left in mid-2024 while its market cap grew from $9 billion to more than $80 billion. As happy as these changes made shareholders, the change in culture has been much more than a vibe shift for the company's 130,000 employees. Current and former employees say that Chipotle was once a special place to work — a cut above in fast casual dining — that has since been consumed by a fast food ethos that, for its workers, has made its restaurants barely distinguishable from a Burger King or Domino's. In the past few years, evidence of a downgrade for staff has been popping up around the country. In 2022, Chipotle agreed to a $20 million settlement with New York City over claims of 599,693 violations of the city's scheduling and paid leave laws, more than any company has paid in a worker protection settlement in the city's history. In 2024, the company appeared in the second-place spot, behind Amazon, on the New York City Comptroller's "Employer Wall of Shame," where it still appears. Chipotle also agreed last year to pay $2.9 million to Seattle-based employees in a settlement over allegations of failing to give extra pay for schedule changes and retaliating against employees who didn't take shifts they hadn't been scheduled for — the largest settlement the city had reached since its scheduling law took effect. That same year, a study of Glassdoor reviews from more than 550 of America's largest employers found that Chipotle had the second-highest rate of employee burnout (behind Progressive insurance). In a statement to Business Insider, Chipotle's chief corporate affairs officer Laurie Schalow writes, "Our employees are our greatest priority, and we are committed to providing a best-in-class work experience that includes robust training and development programs." Business Insider spoke with eight current and former Chipotle employees in four states whose tenures span from 2012 to the present; four of them have been involved in union organization efforts. Each told the same story, resonant with the broader allegations and superlatives: Many of the qualities that made Chipotle stand out as an employer — offering a stellar working experience where they were well-trained and valued and able to offer customers a high-quality experience — have precipitously declined. For a fast food brand, Chipotle has lofty values. "Our purpose is to cultivate a better world," its website states. It has long prided itself on offering only fresh food — it doesn't have freezers at its restaurants, a rarity in an industry where the majority of ingredients are frozen. It also makes promises to its employees. "Being real means treating our people right," reads the company's mission statement. "Chipotle brands themselves as the cool fast food place to work," says Quinlan Muller, who started working at the Lawrence, Kansas, location with Schneider in 2018. It pays better than many of its competitors: According to survey data from the Shift Project, a research venture from Harvard's Kennedy School and UC San Francisco that tracks low-wage workers over time, Chipotle employees report earning $16 an hour on average nationwide, while Burger King and Domino's pay $14. Arrow Smith took a job at the Augusta, Maine, franchise a few years ago because a previous job at Dollar General"wasn't paying me enough to survive," and they could make a dollar or two more per hour at Chipotle, plus tips. Anna started out at minimum wage at a location in Ohio in 2012, but quickly was making over $60,000 a year between raises and regular bonuses for exceeding sales metrics. She says she also got "excellent" health and dental benefits. She made more, in fact, than she does now in a marketing job. (She asked Business Insider to use a pseudonym because her husband still works at Chipotle.) With the higher pay came higher expectations. "You had to be near perfect on everything," Anna says. If she prepped produce that wasn't cut to the right size, it would get thrown out, and she would start over. "I never worked for a fast casual or fast food restaurant that had such a high level of standards," she says. "It was a great environment." Those standards, the people Business Insider spoke with say, were upheld by a rigorous training program that looked more like those at the Culinary Institute of America, Ells' alma mater, than what is typical in the fast food industry. Muller came into her job at Chipotle fresh off a short stint at another fast food company where the training barely existed. At Chipotle, she was able to get trained in lots of different positions. "It felt more fulfilling," she says. The training had a built-in progression to help people move from crew to managers and above. "They wanted to grow people and bring them up," McNease says. A new hire started out by watching training videos for each position and looking through booklets that broke down every minute aspect of the job. Then workers would watch other people do the tasks before doing the tasks themselves with a trainer to offer feedback. "It was a really in-depth process," says Brandi McNease, who started as a crew member at a location in Augusta, Maine in 2016. Workers were trained for multiple positions, from manning the tortilla press to grilling the food in the back. The training also had a built-in progression to help people move from crew to managers and above. "They wanted to grow people and bring them up," McNease says. Smiling Estrella, who started working at a New York City Chipotle in 2016, was promoted from crew to kitchen leader within three years. Brian Niccol espoused a fast-food mindset that Chipotle had previously eschewed. "His experience and worldview is processed, profitable, and not very organic foods," says Michael W. Morris, a professor at Columbia Business School. "He's an MBA quantitative marketing kind of guy, good at cutting costs in supply chains." Niccol brought in executives from Bloomin' Brands, which owns fast casuals Outback and Carrabba's, and Panda Restaurant Group, the owner of Panda Express. Niccol left Chipotle last summer to become CEO of Starbucks. Chipotle's new CEO is cut from the same cloth: Scott Boatwright, who joined in 2017, had spent the previous 18 years at Arby's. With Ells' exit came a change in internal culture. "You can't have an organizational culture of a fast food restaurant and maintain a brand image of an organic, sustainable place," Morris says. It "doesn't allow for the craft feeling or for the people who are passionate about food to be displaying that passion." Chipotle says it still conducts intensive "real culinary training." In a video on its recruitment site, a worker named Ryan says that when he started there, "they had so many step-by-step processes on how to learn everything." Schalow says in her statement, "We have always had new worker training, and we continuously re-assess our training program and revise it as we deem appropriate." Each of the workers Business Insider spoke to say that the company's training quality has dropped off. By the time Leslie (who asked that Business Insider use a pseudonym; she still works at Chipotle) started working at a New York City location in 2019, she didn't get to watch a video or receive any hands-on guidance before she was put to work, she says. For each task, she says, "they would explain it maybe once and that's it." She didn't know how to wrap burritos for four months and figured it out by asking people to help her and watching videos during her off hours, she says. At the Augusta store, McNease says, "It was pretty clear that what I had stepped into was a transition period that was not going in the right direction." New hires started to be put on the floor with no training, she says. "It got to the point where you were lucky if you got to watch videos." The same was happening in Kansas, as new hires wouldn't know how to do important tasks, Muller says. Thomas started working at the same Chipotle in 2022 (he also asked that I use a pseudonym). By the time he left in late 2023, he says he consistently had to correct employees on food safety procedures. In her statement, Schalow says the company's current training program "includes food safety training, workplace and employment-related training, and a range of operational training for various roles." When Schneider first started, there was a strict rule enforced that no one under 18 could use a knife; later on, kids as young as 16 were doing that prep work, he says. Schalow says the company has "policies and procedures that comply with state laws for the employment of 16- and 17-year-olds." Thomas says the focus switched from creating high-quality food to drilling down on portions — not giving customers too much. Managers "really started hammering that into us," he says. Employee scheduling has also been tumultuous. According to Shift Project data, three-quarters of Chipotle employees it surveyed say they get their schedules less than two weeks in advance. More than a third get their schedules with less than a week's notice. Shifts also move frequently: Three-quarters of Chipotle employees report having received a shift timing change in the previous month; 22% had a canceled shift. When it comes to employee scheduling, "Chipotle is really at the bottom of the heap" of comparable restaurants, says Daniel Schneider, a principal investigator at The Shift Project. Kristen Harknett, another principal investigator, says that canceled shifts are "extremely disruptive," particularly for workers who show up to a shift only to be sent home without receiving any pay. In Kansas, managers put up a printed schedule once a week on Saturday night or Sunday, say Schneider and Muller. There was no way to access it online; if someone didn't work that day, they might not know they were supposed to show up the following one. At the Maine store, workers sometimes wouldn't have their schedules by Sunday and would be told to show up to whatever shifts they had been scheduled for the previous Monday, says McNease. All the workers Business Insider spoke to also say that staff was so lean that employees on any given shift weren't able to handle the crush of customers, and that many shifts were chaotic. At the Augusta Chipotle, Smith says, "It went from awesome and well-staffed to a skeleton crew in like a month." McNease says managers told workers to work more hours and take over more positions without extra pay. Prep tasks like chopping food with sharp knives were done by two people instead of six, she adds, leading to injuries. One coworker cut his fingers seven or eight times trying to cut meat fast enough to keep up with the line of customers, Smith says. "Every day felt like a new set of small catastrophes. We were begging for more staffing, more help, and they just wouldn't send us anybody." McNease also says that food would get left out too long and dirty dishes piled up. At the Lawrence Chipotle, says Muller, there were shifts with one person working on the line in the front and a shift manager in the back cooking food. Sometimes the store would get so busy that no one would be able to properly wash dishes and bowls between uses. During the company's earnings call in April 2025, Boatwright noted that internal research had found that some restaurants were unclean during peak hours. Employees blame the hecticness, in part, on climbing turnover rates. In 2016, the rate was 130%, according to the company. By 2021 it had swelled to 194%, meaning nearly twice as many people left as were employed there that year. Rates have fallen since then, clocking in at 145% in 2023 and 131% last year. "We firmly believe in consistent and predictable scheduling and providing our employees with sufficient advanced notice of their schedule," says Schalow. "Our staffing levels are the best they have been in recent years, and we continue to see record low turnover rates in our restaurants." The issues have trickled down to customers, who workers say have had to wait in longer lines or forgo ingredients that couldn't be cooked and prepped in time. Last year, after a chorus of customers accused the company of skimping on portions on TikTok, a Wells Fargo restaurant analyst ordered and weighed 75 iterations of the same item at eight locations across New York City — and found a lot of variation. Niccol denied there was any directive to offer smaller portions, and announced training to ensure consistent amounts across locations — although not before a shareholder lawsuit over the matter. "We have not changed our portion sizes, and we have reinforced proper portioning with our employees," says Schalow. "If we did not deliver on our value, we want our guests to reach out so we can make it right." More and more often, customers get nasty with employees. "We'd get yelled at, screamed at," Anna says. "It got so much worse as the years went on." In response to the portion-skimping allegations, customers have taken to filming workers as they make their burritos. It made employees "really uncomfortable to have cameras in our faces while we were working," Thomas says. "People were very rude about it." Schalow at Chipotle says, "We do not condone guests who mistreat our teams and fail to give them the respect they deserve." "A lot of people would lash out," says Smith. "It got really dehumanizing." Anna, who had at one time loved her job so much she planned to stay as long as she could, says that the job became so disorganized and overwhelming that she quit after eight years with the company. In April's earnings call, Boatwright also noted that employees were "not as friendly as we probably should be in restaurant." His solution: Urging them to greet customers with a friendly smile. "The fact is," he said, "smiles down the line don't slow us down." In recent years, a number of Chipotle workers around the country have decided to organize. In New York, Leslie was approached by SEIU 32BJ, a union that organizes primarily low-wage workers like cleaners and food service workers. She had previously been in a union while working at a nursing home, and she liked the idea of having one at Chipotle, too. Chipotle did not agree, she says. "I'll tell you one thing, Chipotle hates the union," says Smiling Estrella. After he was on the news for attending a protest in New York, Chipotle accused him of forcing someone to work during his unpaid break and making employees clock out before working to close up the store. He denies it, calling the accusations "lies." In early 2023, he was fired. "That was really freaking hard," he says. "I went through a deep depression." He nearly lost his apartment as he struggled to make rent, and his phone service was cut off twice. In 2023, Chipotle was hit by seven unfair labor practice charges in New York City, the most of any employer. There are four open charges against the company sitting with the federal National Labor Relations Board for alleged behavior such as unfairly disciplining and threatening workers. Workers at a Michigan location prevailed in forming a union. In 2022, employees at a Chipotle in Lansing overwhelmingly voted to join the International Brotherhood of Teamsters to address what they said were similar issues of understaffing and inconsistent schedules. The workers say they were barraged by captive-audience meetings and anti-union messaging; the NLRB found the company had violated labor law by trying to deny raises to the unionized workers. They are, to date, the only unionized location. More than two years later they don't have a contract. No other union campaign has succeeded. In March 2022, the "wheels started to fall off" at the Augusta location, McNease says. She had been trying to do training "correctly," but struggled, particularly as people kept quitting. A gas leak in the restaurant started making people sick, and it took the company weeks to send someone out to fix it, she says. That's when she got in touch with someone she knew who was in a union to find out more about the process. The first step, she was advised, was to talk to coworkers about forming a union. "It immediately just took off," she says. Employees were primed for it. "We were just tired of corporate not listening to us. We were literally begging for help," Smith says. On June 15, McNease sent an email on behalf of her coworkers to the restaurant's team director, laying out their demands. It said that, since the previous December, the store had gone without training for new or existing employees, that two workers had been "routinely expected" to complete the prep tasks usually done by six, and that three or four people had to open the store, work that required seven people. These issues put not just employees but customers at risk, with food safety "compromised," McNease wrote. If the company didn't schedule a "full crew" to open the store by the following morning, the letter said, they wouldn't show up to work until they had enough staff and training. That kicked off a two-day walkout. Six days later, the workers became the first Chipotle location in the country to file for a union election with the NLRB. "Management descended on us immediately," McNease says. Employees were called into mandatory meetings that were filled with anti-union rhetoric. The company made new hires that diluted the organizing unit, McNease says; managers screamed at people and overloaded supporters with tasks. People were sent home for slight uniform infractions and fired for "stupid reasons," Smith says. Then, on the same morning that the workers had an NLRB hearing to set an election date, Chipotle sent employees notice that it was shutting the store down permanently. "It was like the rug had been pulled out from under us," McNease says. Workers settled with the company, receiving a total of $240,000 in back pay. "We fought so hard," McNease says, "and in the end, they were able to just walk away." "We respect our employees' rights to organize under the National Labor Relations Act and are committed to ensuring a fair, just and humane work environment that provides opportunities to all," says Schalow. "We closed our Augusta, Maine restaurant because of location-specific staffing challenges of this fairly remote location and other issues, not because of any union activities of the employees there." Muller started talking to her coworkers about unionizing around the time McNease's campaign faltered. She drew up a petition for the NLRB and quickly got most of her coworkers to sign. After management found out in October 2022, the company deployed similar tactics as those in Maine, she says. Higher-ups workers had never seen before showed up, employees say, pulling them into lengthy one-on-one meetings with anti-union talking points; employees felt they were disciplined or even fired for small things that had never previously raised alarm bells. That December, one of Muller's friends came in for a burrito bowl and some chips in the evening, and Muller offered her the chips for free before they got thrown out for the day, a practice accepted by other managers, she says. Her manager wrote her up, and she was fired for stealing. It happened just days before a deadline to have Chipotle reimburse her tuition for the semester, costing her $2,600. She was unemployed for six months. It was also emotionally difficult to lose her job. "It was kind of a part of my identity," she says. Muller filed complaints with the NLRB, which later found that the restaurant had punished workers who were involved in unionizing and had tried to discourage the effort, leading to a settlement that required Chipotle to post a notice about workers' rights to organize. No one was reinstated or given back pay. The union campaign fizzled. "Everyone was scared," Schneider says. Nearly a year into Boatwright's tenure as CEO, Chipotle keeps expanding — it plans to open more than 300 locations this year — though there are signs of trouble. The company's same-store sales have declined for two consecutive quarters in 2025, the first two quarterly drops since the COVID-19 pandemic. Chipotle's stock sits at $41.44, down 37% from a high of $66.16 last December. After more than seven years at Chipotle, Schneider left last year after he graduated from college. He even took a pay cut to take his new job as a graphic designer. But now he feels respected and valued as a member of a team, and the person above him treats him "like a person." "I've never been happier, honestly," he says.
Associated Press
17 minutes ago
- Associated Press
Arun Kumar Palathumpattu Thankappan Leads Public Sector Innovation with Amorphic by Cloudwick
Arun Kumar Palathumpattu Thankappan drives public sector cloud, data & AI transformation with Amorphic, empowering agencies with secure, rapid modernization. 'Our mission is to make data and AI accessible to every agency—securely and simply. With Amorphic, transformation becomes a rapid, scalable leap forward.'— Arun Kumar Palathumpattu Thankappan SILICON VALLEY, CA, UNITED STATES, August 9, 2025 / / -- Nearly two decades after beginning his journey in public sector technology, Arun Kumar Palathumpattu Thankappan continues to drive government innovation with a mission to modernize data, cloud, and AI infrastructure for agencies around the world. A former leader at Unisys, Arun recognized early the transformative potential of cloud computing and artificial intelligence in the public sector. Operating from Silicon Valley, he identified a critical gap in how government and enterprise organizations approached data modernization and cloud adoption. This vision led to the creation of Amorphic by Cloudwick, a secure, scalable, and cloud-native data and AI platform powered by Amazon Web Services (AWS). Designed to simplify and accelerate data, analytics, and AI transformation, Amorphic is now deployed across more than a dozen federal, state, and international government agencies. 'Governments shouldn't need to hire teams of cloud engineers to modernize,' said Arun. 'Amorphic empowers agencies to adopt modern data and AI capabilities with speed, security, and simplicity.' Built to meet strict public sector compliance and security standards, Amorphic offers a low-code, user-friendly experience, allowing agencies to access real-time data insights, apply machine learning models, and automate decision-making—without deep technical overhead. Many government entities including California Emergency Medical Services Authority, Hawaii State Department of Law Enforcement, State of Utah's Treasury Department etc have redefined what's possible for public service, safety and health systems in the cloud era with the implementation of the Amorphic Data Cloud. Under Arun's leadership, Cloudwick has positioned Amorphic as a trusted platform for governments seeking rapid, reliable digital transformation. His work continues to influence how agencies adopt AI in the public sector, achieve cloud-native data modernization, and ensure long-term operational efficiency. The mission Arun began almost 20 years ago—to build accessible, scalable technology for government—continues through his ongoing leadership and innovation. Maninder S Chhabra Cloudwick +1 650-346-5788 email us here Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Yahoo
an hour ago
- Yahoo
Chinese state media says Nvidia H20 chips not safe for China
BEIJING (Reuters) -Nvidia's H20 chips pose security concerns for China, a social media account affiliated with China's state media said on Sunday, after Beijing raised concerns over backdoor access in those chips. The H20 chips are also not technologically advanced or environmentally friendly, the account, Yuyuan Tantian, which is affiliated with state broadcaster CCTV, said in an article published on WeChat. "When a type of chip is neither environmentally friendly, nor advanced, nor safe, as consumers, we certainly have the option not to buy it," the article concluded. Nvidia did not immediately respond to a request for comment. H20 artificial intelligence chips were developed by Nvidia for the Chinese market after the U.S. imposed export restrictions on advanced AI chips in late 2023. The administration of U.S. President Donald Trump banned their sales in April amid escalating trade tensions with China, but reversed the ban in July. China's cyberspace watchdog said on July 31 that it had summoned Nvidia to a meeting, asking the U.S. chipmaker to explain whether its H20 chips had any backdoor security risks - a hidden method of bypassing normal authentication or security controls. Nvidia later said its products had no "backdoors" that would allow remote access or control. In its article, Yuyuan Tantian said Nvidia chips could achieve functions including "remote shutdown" through a hardware "backdoor." Yuyuan Tantian's comment followed criticism against Nvidia by People's Daily, another Chinese state media outlet. In a commentary earlier this month, People's Daily said Nvidia must produce "convincing security proofs" to eliminate Chinese users' worries over security risks in its chips and regain market trust. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
