Latest news with #JesseCohen
Indian Express
3 days ago
- Business
- Indian Express
Jensen Huang says he reviews salaries of all 42,000 Nvidia staffers: Here's how
Nvidia CEO Jensen Huang has said that he personally reviews the salaries of over 42,000 employees working at the AI chip giant as part of his hands-on management strategy. When asked about rumours of a secret stock option pool for high performers at Nvidia, Huang reaffirmed his commitment to fair and competitive rewards. He noted that his strategy is to pay his workers handsomely, which has worked well with Nvidia leadership as well. A recent survey found that over 78 per cent employees of the chipmaker are millionaires. 'I review everybody's compensation, up to this day, at the end of every cycle. They send me everybody's recommended comp. I go through the whole company. I sort through all 42,000 employees, and 100% of the time I increase the company's spend on opex (operating expenses),' Huang said. 'And the reason for that is because you take care of people, everything else takes care of itself,' he added. 'I've created more billionaires on my management team than any CEO in the world. They're doing just fine. Don't feel sad for anybody at my layer,' Huang further said. Around 76-78 per cent Nvidia employees are millionaires, according to a recent survey shared by financial analyst Jesse Cohen. Based on the responses of 3,000 Nvidia employees, the survey found that they most benefitted from the employee stock purchase programme that allows them to buy Nvidia stocks at a discount of 15 per cent. 'Wild Stat of the Day: 76-78% of Nvidia employees are now millionaires, with approximately 50% having a net worth over $25 million,' Cohen wrote in a post on X that was accompanied by a purported screenshot of the survey. Wild Stat of the Day: 76-78% of Nvidia employees are now millionaires, with approximately 50% having a net worth over $25 million. $NVDA — Jesse Cohen (@JesseCohenInv) August 9, 2025 Nvidia has emerged as the biggest winner of the generative AI boom. Its share price has surged by nearly 3,800 per cent since 2019. On July 9, 2025, it made history by becoming the first publicly traded company in the world to surpass $4 trillion in its market capitalisation. The recent stock surge has also driven Huang into the list of top 10 billionaires in the world. Nvidia started out in the tech industry by developing GPUs (graphics processing units) for video gaming and graphics-intensive applications. It became known for developing multiple series of cutting-edge graphics processors which, in turn, led to the company bagging a prized contract to develop the hardware for Microsoft's Xbox gaming console. However, the company's recent surge in popularity stems from the rise of large language models (LLMs) such as OpenAI's newly unveiled GPT-5 which reportedly runs on tens of thousands of GPUs.
Egypt Independent
05-08-2025
- Business
- Egypt Independent
Meta's ‘superintelligence' isn't here yet. But its AI bets are already paying off
New York — If Meta investors had concerns about the company's huge spending on artificial intelligence infrastructure and talent — and its ambitious 'superintelligence' goal — they're likely to be assuaged by its blockbuster earnings report on Wednesday. The results, as one analyst put it, indicates that 'AI is becoming a real revenue driver, not just hype.' Meta on Wednesday posted earnings of $7.14 per share on $47.5 billion in revenue from the quarter ended June 30. Earnings per share were up 38 percent from the year-ago period and well above the $5.88 that Wall Street analysts had expected. It also projected revenue from the current quarter will be between $47.5 billion and $50.5 billion, also ahead of analysts' expectations. The strong results sent Meta shares up more than 9 percent in after-hours trading. The company's stock has risen 16 percent since the start of this year. 'Meta's blowout earnings and raised guidance highlight how AI is becoming a real revenue driver, not just hype,' Senior Analyst Jesse Cohen said in a statement. 'The company's continued heavy investment in AI infrastructure signals it's playing the long game.' The report came after Meta CEO Mark Zuckerberg laid out his approach to AI 'superintelligence' in a video and blog post on Wednesday morning. He wants everyone to have access to their own personal AI superintelligence, he said in the blog post, making people more productive so they can spend 'more time creating and connecting.' 'Our business continues to perform very well, which enables us to invest heavily in our AI efforts,' Meta said in a call with analysts Wednesday evening, adding that the company's performance in the quarter could be attributed to AI improving its core ad business. Meta has been shelling out big bucks to recruit top AI talent away from rivals such as OpenAI, Google and Apple for its new Meta Superintelligence Labs team. The company is also spending hundreds of billions of dollars to build massive AI data centers. On Friday, Zuckerberg announced that Shengjia Zhao, one of the co-creators of ChatGPT who Meta hired away from OpenAI several weeks ago, will be the team's chief scientist. Meta Chief Financial Officer Susan Li said hiring in 'high priority' areas such as AI is expected to grow the company's total staff throughout this year and next. She added that increased compensation because of Meta's investments in top AI talents will be its second largest driver of expenses growth next year. Meta is in league with tech giants such as OpenAI, Google and Anthropic that are all racing toward superintelligence, the theoretical point at which AI becomes smarter than all humans at all knowledge work. It's believed that if that milestone is reached, it could dramatically reshape the economy and the way people work, potentially creating significant new business opportunities for the companies that can provide the technology. And the stakes may be especially high for Zuckerberg, who wants Meta to be more than just a social media company and has refocused it on AI after an unsuccessful pivot to the metaverse. The company is under pressure to deliver on the billions it's invested in data centers and chips, and it also has a growing smart glasses business that depends on the success of its AI efforts. And the company is coming from somewhat behind competitors, after reported delays in releasing the largest version of its new Llama 4 AI model. Zuckerberg said Wednesday morning that he believes smart glasses will be the 'main computing device' for the AI era. Despite its aggressive spending, Meta on Wednesday said its capital expenditures during the third quarter were $17 billion, nearly in line with Wall Street's estimate of $16.48 billion. And it narrowed — but did not raise — its full-year capital expenditure guidance, giving investors a more precise view of its spending plan.
CNN
31-07-2025
- Business
- CNN
Meta's ‘superintelligence' isn't here yet. But its AI bets are already paying off
If Meta investors had concerns about the company's huge spending on artificial intelligence infrastructure and talent — and its ambitious 'superintelligence' goal — they're likely to be assuaged by its blockbuster earnings report on Wednesday. The results, as one analyst put it, indicates that 'AI is becoming a real revenue driver, not just hype.' Meta on Wednesday posted earnings of $7.14 per share on $47.5 billion in revenue from the quarter ended June 30. Earnings per share were up 38% from the year-ago period and well above the $5.88 that Wall Street analysts had expected. It also projected revenue from the current quarter will be between $47.5 billion and $50.5 billion, also ahead of analysts' expectations. The strong results sent Meta shares up more than 9% in after-hours trading. The company's stock has risen 16% since the start of this year. 'Meta's blowout earnings and raised guidance highlight how AI is becoming a real revenue driver, not just hype,' Senior Analyst Jesse Cohen said in a statement. 'The company's continued heavy investment in AI infrastructure signals it's playing the long game.' The report came after Meta CEO Mark Zuckerberg laid out his approach to AI 'superintelligence' in a video and blog post on Wednesday morning. He wants everyone to have access to their own personal AI superintelligence, he said in the blog post, making people more productive so they can spend 'more time creating and connecting.' 'Our business continues to perform very well, which enables us to invest heavily in our AI efforts,' Meta said in a call with analysts Wednesday evening, adding that the company's performance in the quarter could be attributed to AI improving its core ad business. Meta has been shelling out big bucks to recruit top AI talent away from rivals such as OpenAI, Google and Apple for its new Meta Superintelligence Labs team. The company is also spending hundreds of billions of dollars to build massive AI data centers. On Friday, Zuckerberg announced that Shengjia Zhao, one of the co-creators of ChatGPT who Meta hired away from OpenAI several weeks ago, will be the team's chief scientist. Meta Chief Financial Officer Susan Li said hiring in 'high priority' areas such as AI is expected to grow the company's total staff throughout this year and next. She added that increased compensation because of Meta's investments in top AI talents will be its second largest driver of expenses growth next year. Meta is in league with tech giants such as OpenAI, Google and Anthropic that are all racing toward superintelligence, the theoretical point at which AI becomes smarter than all humans at all knowledge work. It's believed that if that milestone is reached, it could dramatically reshape the economy and the way people work, potentially creating significant new business opportunities for the companies that can provide the technology. And the stakes may be especially high for Zuckerberg, who wants Meta to be more than just a social media company and has refocused it on AI after an unsuccessful pivot to the metaverse. The company is under pressure to deliver on the billions it's invested in data centers and chips, and it also has a growing smart glasses business that depends on the success of its AI efforts. And the company is coming from somewhat behind competitors, after reported delays in releasing the largest version of its new Llama 4 AI model. Zuckerberg said Wednesday morning that he believes smart glasses will be the 'main computing device' for the AI era. Despite its aggressive spending, Meta on Wednesday said its capital expenditures during the third quarter were $17 billion, nearly in line with Wall Street's estimate of $16.48 billion. And it narrowed — but did not raise — its full-year capital expenditure guidance, giving investors a more precise view of its spending plan.
Yahoo
05-02-2025
- Business
- Yahoo
Google's rising holiday's season ad sales aren't enough to ease worries about AI letdown
SAN FRANCISCO (AP) — Google's digital ad sales continued to grow at a healthy clip during the holiday season, but that wasn't enough to offset investors' worries about whether its big bet on artificial intelligence will be lucrative as once envisioned. The October-December results released Tuesday by Google parent Alphabet Inc. showed the company is continuing to reap even more profits from its dominant search engine and other peripheral services. Alphabet earned $26.5 billion, or $2.15 per share, during last year's final quarter, a 28% increase from the same time during the previous year. Revenue rose 12% from the previous year to $96.5 billion. The earnings eclipsed analyst forecasts of $2.13 per share, but the revenue fell slightly below projections, according to FactSet Research. More importantly, revenue growth in the Google Cloud division tethered to the AI craze wasn't as robust as had been anticipated. That letdown contributed to a more than 8% drop in Alphabet's stock price after the numbers came out. The downturn reversed a recent rally that had elevated Alphabet's shares to a new all-time high earlier Tuesday during the regular trading session. 'The reaction underscores concerns that rivals like Microsoft, with its OpenAI partnership, are better positioned to convert AI hype into revenue,' said analyst Jesse Cohen. But the AI-generated overviews that Google has been increasingly displaying in at the top of its search results appeared to be helping to bring in more advertising. Google's ad sales climbed 11% from the previous year to $72.5 billion to exceed analyst estimates. 'The early signs suggest that AI is working for Google,' said Jim Yu, CEO of BrightEdge, which helps websites rank higher in search results. "What it does for Google is keep more of the digital experience happening within its search engine. And by the time they send someone to another site, shoppers and readers have already gotten further down their journey. So that visitor is worth a lot more to an advertiser.' But Google also has spending billions of dollars on its AI expansion, a huge investment that some investors are questioning after t he Chinese startup DeepSeek found an effective way to deploy similar technology at a fraction of the cost. Alphabet is expecting its ongoing AI expansion to increase its capital from about $60 billion last year to $75 billion this year. Alphabet CEO Sundar Pichai sought to reassure investors all that spending will pay off during a Tuesday conference call by emphasizing the way AI is helping to boost Google's fortunes by attracting more search traffic and making other services more popular. 'The company is in a great rhythm and cadence, building, testing and launching products faster than ever before,' Pichai said. Before the fourth-quarter results came out, Google made a change that in its AI principles signaling it may be more open to selling the technology in areas that it had previously indicated it would avoid. The revised principles removed previous commitments not to deploy AI in weaponry or surveillance that had been in place since 2018. Pichai didn't address the change during Tuesday's conference call and Google didn't immediately respond to a request for comment. The uncertainty over AI isn't the only worry hanging over Google. The Mountain View, California, company also is facing a regulatory crackdown in the U.S., by far its most lucrative market, raising the specter that its revenue could be undercut. After weighing the evidence presented during a high-profile trial, a federal judge last year declared Google's search engine is an illegal monopoly — a decision that has opened the door for regulators to propose forcing the company to sell its Chrome web browser. Court hearings on how Google should be punished for its abuses in the search market are scheduled to begin in April, with a decision anticipated before autumn. Besides the legal assault on its search engine, Google also has been ordered to tear down the barriers protecting its Play Store for Android smartphone apps. That ruling is currently on hold while Google appeals. Google is also awaiting a ruling in antitrust trial in Virginia revolving around the technology underlying its digital ad network. Sign in to access your portfolio
The Hill
04-02-2025
- Business
- The Hill
Google's rising holiday's season ad sales aren't enough to ease worries about AI letdown
SAN FRANCISCO (AP) — Google's digital ad sales continued to grow at a healthy clip during the holiday season, but that wasn't enough to offset investors' worries about whether its big bet on artificial intelligence will be lucrative as once envisioned. The October-December results released Tuesday by Google parent Alphabet Inc. showed the company is continuing to reap even more profits from its dominant search engine and other peripheral services. Alphabet earned $26.5 billion, or $2.15 per share, during last year's final quarter, a 28% increase from the same time during the previous year. Revenue rose 12% from the previous year to $96.5 billion. The earnings eclipsed analyst forecasts of $2.13 per share, but the revenue fell slightly below projections, according to FactSet Research. More importantly, revenue growth in the Google Cloud division tethered to the AI craze wasn't as robust as had been anticipated. That letdown contributed to a more than 8% drop in Alphabet's stock price after the numbers came out. The downturn reversed a recent rally that had elevated Alphabet's shares to a new all-time high earlier Tuesday during the regular trading session. 'The reaction underscores concerns that rivals like Microsoft, with its OpenAI partnership, are better positioned to convert AI hype into revenue,' said analyst Jesse Cohen. But the AI-generated overviews that Google has been increasingly displaying in at the top of its search results appeared to be helping to bring in more advertising. Google's ad sales climbed 11% from the previous year to $72.5 billion to exceed analyst estimates. 'The early signs suggest that AI is working for Google,' said Jim Yu, CEO of BrightEdge, which helps websites rank higher in search results. 'What it does for Google is keep more of the digital experience happening within its search engine. And by the time they send someone to another site, shoppers and readers have already gotten further down their journey. So that visitor is worth a lot more to an advertiser.' But Google also has spending billions of dollars on its AI expansion, a huge investment that some investors are questioning after t he Chinese startup DeepSeek found an effective way to deploy similar technology at a fraction of the cost. Alphabet is expecting its ongoing AI expansion to increase its capital from about $60 billion last year to $75 billion this year. Alphabet CEO Sundar Pichai sought to reassure investors all that spending will pay off during a Tuesday conference call by emphasizing the way AI is helping to boost Google's fortunes by attracting more search traffic and making other services more popular. 'The company is in a great rhythm and cadence, building, testing and launching products faster than ever before,' Pichai said. Before the fourth-quarter results came out, Google made a change that in its AI principles signaling it may be more open to selling the technology in areas that it had previously indicated it would avoid. The revised principles removed previous commitments not to deploy AI in weaponry or surveillance that had been in place since 2018. Pichai didn't address the change during Tuesday's conference call and Google didn't immediately respond to a request for comment. The uncertainty over AI isn't the only worry hanging over Google. The Mountain View, California, company also is facing a regulatory crackdown in the U.S., by far its most lucrative market, raising the specter that its revenue could be undercut. After weighing the evidence presented during a high-profile trial, a federal judge last year declared Google's search engine is an illegal monopoly — a decision that has opened the door for regulators to propose forcing the company to sell its Chrome web browser. Court hearings on how Google should be punished for its abuses in the search market are scheduled to begin in April, with a decision anticipated before autumn. Besides the legal assault on its search engine, Google also has been ordered to tear down the barriers protecting its Play Store for Android smartphone apps. That ruling is currently on hold while Google appeals. Google is also awaiting a ruling in antitrust trial in Virginia revolving around the technology underlying its digital ad network.
