Latest news with #JimmyStewart
Yahoo
29-05-2025
- Business
- Yahoo
Nvidia CEO turns heads with stern warning about China AI market
Nvidia CEO turns heads with stern warning about China AI market originally appeared on TheStreet. Move over, Jimmy Stewart. Jensen Huang's got this one covered. In the classic 1939 film 'Mr. Smith Goes to Washington,' Stewart portrays Jefferson Smith, a naive, newly appointed U.S. senator who takes on government corruption. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵 While nobody is likely to call Huang naive, the co-founder and CEO of AI-chip juggernaut Nvidia () spoke bluntly about the Trump administration's ban on sales of the company's H20 chips to China. That prompted Wedbush analysts to issue a research note titled "Mr. Huang Goes to Washington." "China is one of the world's largest AI markets and a springboard to global success," Huang said during the company's earnings call. "With half of the world's AI researchers based there, the platform that wins China is positioned to lead globally." He wasn't kidding. A recent Morgan Stanley report found that China's AI industry and related sectors could grow into a market valued at $1.4 trillion by 2030. U.S. export controls could create barriers for AI development in China but won't stop its progress, the investment firm said, noting that "AI is at the center of business priorities, consumer behavior and economic growth in China." "Today, however, the $50 billion China market is effectively closed to US industry," Huang said. "The H20 export ban ended our Hopper data center business in China. We cannot reduce Hopper further to comply. "As a result, we are taking a multibillion-dollar write-off on inventory that cannot be sold or repurposed. We are exploring limited ways to compete, but Hopper is no longer an option. China's AI moves on with or without US chips. It has to compute to train and deploy advanced models." More Nvidia: Analysts issue rare warning on Nvidia stock before key earnings Analysts double price target of new AI stock backed by Nvidia Nvidia CEO shares blunt message on China chip sales ban The Santa Clara, Calif., company, which posted better-than-expected fiscal-Q1 earnings and revenue, said it had missed out on $2.5 billion in sales during the quarter due to the export restrictions on H20. "The question is not whether China will have AI; it already does," Huang said. "The question is whether one of the world's largest AI markets will run on American platforms." "Shielding Chinese chipmakers from US competition only strengthens them abroad and weakens America's position," he noted. "Export restrictions have spurred China's innovation and scale." The Morgan Stanley report said that over the next five years, China aims to achieve full independence from foreign countries in its AI development. Since it's subject to U.S. export restrictions, the report said, the nation is prioritizing more efficient and less expensive AI technologies, most notably DeepSeek. That's the Chinese startup that shivered the tech world's timbers back in January with an AI model that was reportedly much cheaper than those of its American counterparts. "The US has based its policy on the assumption that China cannot make AI chips," Huang said. "That assumption was always questionable and now it's clearly wrong. China has enormous manufacturing capability." Wedbush, which reiterated its $175 price target and outperform rating on Nvidia shares, said the company executed well despite the loss of H20 representing a greater headwind than the investment firm and investors expected."While NVDA did talk to the significance of the lost opportunity in China," the investment firm said, "Jensen also appeared to make a concerted effort to credit the current administration for recent sovereign deals, talk to NVDA's plans to further US investment (a key touch point for President Trump), while also suggesting management has faith in the US government's likely future actions with regards to trade and AI." Wedbush said this approach was likely best suited to minimizing potential political headwinds for Nvidia. But "it also highlights that political decisions (AI diffusion, tariff, and China policies) are seemingly the only potential significant stumbling blocks for NVDA over the next 12+ months." DA Davidson boosted its price target on Nvidia to $135 from $120 and affirmed a neutral rating on the shares, according to The Fly. The Q1 results were mixed, with better-than-expected revenue numbers but a notable impact from the lack of H20 sales into China in Q1 and Q2, the firm said. The firm said Wall Street was underaccounting the Chinese contribution to Nvidia revenue and that this topic represents the largest overhang on the stock. Davidson said this will continue until the Trump administration provides an official position that resolves the matter in one direction or the other. Stephen Guilfoyle says Nvidia's results were impressive and "much, much better than feared given the mid-quarter change in the restrictions on what kinds of technology can be exported to China and other nations." "This pressured sales, suppressed margins and forced the firm to take an inventory-related charge against these earnings that fortunately was smaller than what the firm had warned it might be," he veteran trader, whose career dates back to the 1980s on the New York Stock Exchange, reiterated his stock price target of $165 on NVDA. "What's clear is that demand for all things AI-related has not let up in the least," Guilfoyle said. "What's also clear is that the Chinese market makes a material impact on the firm's overall performance. Cash flows are golden, and the balance sheet is simply fortress-like." Nvidia CEO turns heads with stern warning about China AI market first appeared on TheStreet on May 29, 2025 This story was originally reported by TheStreet on May 29, 2025, where it first appeared. 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
Miami Herald
29-05-2025
- Business
- Miami Herald
Nvidia CEO turns heads with stern warning about China AI market
Move over, Jimmy Stewart. Jensen Huang's got this one covered. In the classic 1939 film "Mr. Smith Goes to Washington," Stewart portrays Jefferson Smith, a naive, newly appointed U.S. senator who takes on government corruption. Don't miss the move: Subscribe to TheStreet's free daily newsletter While nobody is likely to call Huang naive, the co-founder and CEO of AI-chip juggernaut Nvidia (NVDA) spoke bluntly about the Trump administration's ban on sales of the company's H20 chips to China. That prompted Wedbush analysts to issue a research note titled "Mr. Huang Goes to Washington." "China is one of the world's largest AI markets and a springboard to global success," Huang said during the company's earnings call. "With half of the world's AI researchers based there, the platform that wins China is positioned to lead globally." He wasn't kidding. A recent Morgan Stanley report found that China's AI industry and related sectors could grow into a market valued at $1.4 trillion by 2030. U.S. export controls could create barriers for AI development in China but won't stop its progress, the investment firm said, noting that "AI is at the center of business priorities, consumer behavior and economic growth in China." "Today, however, the $50 billion China market is effectively closed to US industry," Huang said. "The H20 export ban ended our Hopper data center business in China. We cannot reduce Hopper further to comply. "As a result, we are taking a multibillion-dollar write-off on inventory that cannot be sold or repurposed. We are exploring limited ways to compete, but Hopper is no longer an option. China's AI moves on with or without US chips. It has to compute to train and deploy advanced models." More Nvidia: Analysts issue rare warning on Nvidia stock before key earningsAnalysts double price target of new AI stock backed by NvidiaNvidia CEO shares blunt message on China chip sales ban The Santa Clara, Calif., company, which posted better-than-expected fiscal-Q1 earnings and revenue, said it had missed out on $2.5 billion in sales during the quarter due to the export restrictions on H20. "The question is not whether China will have AI; it already does," Huang said. "The question is whether one of the world's largest AI markets will run on American platforms." "Shielding Chinese chipmakers from US competition only strengthens them abroad and weakens America's position," he noted. "Export restrictions have spurred China's innovation and scale." The Morgan Stanley report said that over the next five years, China aims to achieve full independence from foreign countries in its AI development. Since it's subject to U.S. export restrictions, the report said, the nation is prioritizing more efficient and less expensive AI technologies, most notably DeepSeek. That's the Chinese startup that shivered the tech world's timbers back in January with an AI model that was reportedly much cheaper than those of its American counterparts. "The US has based its policy on the assumption that China cannot make AI chips," Huang said. "That assumption was always questionable and now it's clearly wrong. China has enormous manufacturing capability." Wedbush, which reiterated its $175 price target and outperform rating on Nvidia shares, said the company executed well despite the loss of H20 representing a greater headwind than the investment firm and investors expected. Related: Nvidia stock surges after earnings surprise "While NVDA did talk to the significance of the lost opportunity in China," the investment firm said, "Jensen also appeared to make a concerted effort to credit the current administration for recent sovereign deals, talk to NVDA's plans to further US investment (a key touch point for President Trump), while also suggesting management has faith in the US government's likely future actions with regards to trade and AI." Wedbush said this approach was likely best suited to minimizing potential political headwinds for Nvidia. But "it also highlights that political decisions (AI diffusion, tariff, and China policies) are seemingly the only potential significant stumbling blocks for NVDA over the next 12+ months." DA Davidson boosted its price target on Nvidia to $135 from $120 and affirmed a neutral rating on the shares, according to The Fly. The Q1 results were mixed, with better-than-expected revenue numbers but a notable impact from the lack of H20 sales into China in Q1 and Q2, the firm said. The firm said Wall Street was underaccounting the Chinese contribution to Nvidia revenue and that this topic represents the largest overhang on the stock. Davidson said this will continue until the Trump administration provides an official position that resolves the matter in one direction or the other. Stephen Guilfoyle says Nvidia's results were impressive and "much, much better than feared given the mid-quarter change in the restrictions on what kinds of technology can be exported to China and other nations." "This pressured sales, suppressed margins and forced the firm to take an inventory-related charge against these earnings that fortunately was smaller than what the firm had warned it might be," he said. Related: Veteran stock trader takes hard look at Nvidia ahead of earnings The veteran trader, whose career dates back to the 1980s on the New York Stock Exchange, reiterated his stock price target of $165 on NVDA. "What's clear is that demand for all things AI-related has not let up in the least," Guilfoyle said. "What's also clear is that the Chinese market makes a material impact on the firm's overall performance. Cash flows are golden, and the balance sheet is simply fortress-like." The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Wall Street Journal
17-05-2025
- Politics
- Wall Street Journal
I Thought I'd Love Being a Congressman. I Prefer Owning a Bookshop.
'About Face' is a column about how someone changed their mind. I spent 16 years as a member of the House of Representatives. After being elected in 2000, I made my way to Capitol Hill like a modern-day version of Jimmy Stewart in 'Mr. Smith Goes to Washington': wide-eyed at the grandeur of it all. I found myself in rooms with the newsmakers I'd been watching for years on 'Meet the Press' and 'Face the Nation.' On the day I was sworn in, I believed this new chapter would be the most important of my life.
CBS News
16-05-2025
- Entertainment
- CBS News
Jimmy Stewart Museum in Indiana County to celebrate 30th anniversary
This weekend in Indiana County, the Jimmy Stewart Museum is celebrating its 30th anniversary, and it is doing so with several big events around town. One event is seeing one of Stewart's planes, a P-51c Thunderbird, that's not only still flying, but has an incredible history in its own right. Jimmy Stewart's roots in Indiana, Pennsylvania To understand how much this community loves Stewart, the Indiana County airport is named after him. They even have one of his old planes, a Cessna 310 F, on display right outside the main terminal building. But another plane associated with Stewart is on layover at the airport this weekend and has a great tie to the star and the aviator. That plane is the P-51c Thunderbird. The Thunderbird is a racing plane built just after World War II. Not only does this plane still hold some incredible world records, like racing from California to Cleveland in 1949 at 470 mph and winning the Bendix Trophy, but it also was the plane CBS hired to quickly fly the film of Queen Elizabeth's coronation in 1953 back to the States for broadcast. But now, for the first time, Stewart's old plane has landed at the airport that bears his name for a weekend celebrating this one-of-a-kind native son. Warren Pietsch, the current owner of this plane, flew it in earlier this week, and he says he is proud to be adding to the festivities here and for this Thunderbird to have the homecoming it never got while Stewart was alive. "When we circled town," said Pietsch, "we circled the museum, and I patted it on the inside and I said 'there you go, girl, this is where your old owner grew up.'" Pietsch bought the plane about 20 years ago and restored it to the way it looked back when Stewart owned it. While he keeps the plane near his home in Minot, North Dakota, Pietsch says he takes it all over the country as a way to keep its great history alive. Kelly Stewart-Harcourt, the daughter of Jimmy Stewart, also flew in for this weekend. She says she is amazed by this aircraft, because like many in Indiana, she is seeing it for the very first time. "I know dad loved flying," Stewart-Harcourt said. "And I think he loved flying more than anything. He loved it more than acting; he didn't love it more than his family, but he loved flying. And seeing this just makes it real. It makes his love tangible in the form of this gorgeous blue and yellow plane. I am just overwhelmed. And the big gift is that dad is still alive, so our family has never lost dad." Now this plane is going to be on display on Saturday and Sunday at the airport. For more information on the plane and its history, click here. And for more information on all the events going on in honor of Jimmy Stewart this weekend, click here.
Business Mayor
25-04-2025
- Entertainment
- Business Mayor
The new GamesBeat: Ready to serve the industry, with your help
Thank you all for the kind words related to our announcement that GamesBeat is going independent as we spin out of VentureBeat. We can't think of a better way to spend our time than serving this industry with our journalistic flair and our community-oriented events. It was wonderful and heartwarming to see our story go wide. My own Twitter saw more than 160,000 impressions over a couple of days as Variety covered our move as if Gina Joseph and I were celebrities. On LinkedIn and Facebook, I was heartened to see thousands more expressions of congratulations. Our hope is that we can use this love to take advantage of what we see as great opportunities before us. I felt a bit like Jimmy Stewart in It's a Wonderful Life , realizing we had friends after all. After all, this business of game journalism is kind of a lonely road. So many of the people who were my peers when I was younger have dropped out of the trade and moved on to something more rewarding. The GamesBeat crew at E3 2012. But I feel blessed to have stayed in this game long enough to see the less earthly rewards. One of those rewards is to see so many people go through a life cycle of a humble start and wind up in an incredible position — like Jensen Huang, Jason Citron, Phil Spencer, Sarah Bond, Reggie Fils-Aime, Shawn Layden, Mark Cerny, John Carmack, Henk Rogers, Shu Yoshida, Will Wright, Neil Druckmann, Tim Sweeney, Owen Mahoney, Mitch Lasky, Jenova Chen, Amy Hennig, Mark Pincus, Danny Bilson, John Romero, Frank Azor, Brenda Romero, Brian Fargo, Mike Morhaime, Johanna Faries, Geoff Keighley, Robert Kirkman, Perrin Kaplan — and on and on. There are also so many new creators from the Roblox, Fortnite and Minecraft generation. We've benefited from having a number of industry veterans continuously help us with our events. I better stop dropping names, as I'll feel guilty for leaving folks out. The point is: telling their stories over generations has been a joy. We serve you. I've written more than 26,000 stories for GamesBeat and VentureBeat over 17 years, and I've been dedicated to covering the game industry as a business and creative art for 27 years on a daily basis. I've covered the tech industry longer and enjoy seeing the seams between the industries. I often say that I've written 10 stories in a day, and that speaks to how vast and global the game industry has become — it has so much news every day. And I get to meet new passionate people every day; it's like finding little gems of sea glass on the beach at night with a flashlight. Part of the GamesBeat/VentureBeat team at GamesBeat Next 2024. Game and tech startups often tell me that I was the only one that chose to write about them as they got off the ground. That seems like a heavy and ever-growing burden, but I don't see it that way. What I get from talking to all of you over the years — the creative developers or the repeat entrepreneurs or the savvy investors — is a unique perspective on the business of gaming as it goes global and becomes the dominant culture of the world. Gaming is not just entertainment culture. It is global culture, and I am grateful I have been able to travel the world to meet people in the game industry. The only drawback in covering the business of games so fiercely is that I don't get enough time to play games. I'm writing this column near midnight. And this is why I'm not the only person here at GamesBeat. We have a strong team in people like Mike Minotti, our managing editor at GamesBeat, and our writer Rachel Kaser. It's a small team, and we want it to be bigger. But we're an authentic squad. Rachel and Mike have near-encyclopedic knowledge of games and gameplay, as they play a lot more than I do. That's a core value in this business, and it means that they bring a lot of intangible authenticity and cred to the table. I'm just glad to be able to pull out the occasional win in Call of Duty: Warzone battle royale or Call of Duty multiplayer. Sadly, Rachel and Mike don't like all of the same games I do. They're not perfect. But hey, this industry is vast. It contains multitudes. A decade ago, Mike Minotti hams it at the media table. Want to join him? My focus was to track new trends without dwelling on any single category of gaming too much. Follow the money. My colleagues in game journalism — those of us who are left, as well as our readers — keep me grounded in the notion that it's not only CEOs I need to track. Amir Satvat, the game job champion, has reminded me with his data on layoffs, hirings and people on the ground floor of gaming are topics that need to be highlighted and recognized. Our industry is only somewhat transparent in giving out the information that could help game developers as they try to break into the industry, survive, and thrive. Over time, our focus evolved. Follow the people. I am humbled when I realize that we are just one publication, and every surviving journalistic outlet helps shed light on this vast business. It saddens me that PressEngine's data shows that the top 135 video game websites published 635,000 articles during the first quarter, down 13%, or more than 100,000 fewer articles, compared with the same quarter a year ago. I am not happy my friends cannot make a living in game journalism. It's like we're all standing on the Wall in Game of Thrones, doing guard duty and pitied by those that think we have the worst of jobs. Read More PlayStation Plus adds The Callisto Protocol for the spooky season Gina Joseph, CEO of GamesBeat. Gina Joseph, our CEO, is one of the only women who is the CEO of a game journalism company. She brings a unique perspective and a couple of decades of media experience on the business side. Gina has made an effort to get to know the game community and embrace its diversity. And she has done more to enable us to become an independent entity so that we can make our own destiny and develop our own unique voice in an industry full of large corporate media. This has been a tough time for gaming and a tough time for games media. We are grateful to you that we are still standing. More than 2,902 'press contacts' have disappeared from the database of PressEngine, in a report cited by Christopher Dring of The Game Business. We have survived, or done well, as a business because we have been able to get sponsors for our GamesBeat events. David Glass and Cathy Simpson have been critical to the success of those events, from small high-touch dinners to conferences where the crowds can top a thousand people. There are other things that we can try in hopes of taking advantage of new opportunities and new models. There are others on the team that I won't mention for the moment, but we acknowledge their contributions as we get this new 17-year-old startup off the ground. There are those who are staying at VentureBeat to cover the awesome story of our time as AI transforms the enterprise. None of us got into this journalism thing to get super rich. As I watched others do that around me, I knew that staying in journalism was not the path to financial glory. But at VentureBeat, Matt Marshall provided me with a self-directed platform to do what I wanted for 17 years, and that helped me put my kids through college and stay in this business for the long haul. For that, I am eternally grateful to Matt and VentureBeat. It's also been a joy to see my family around me grow up appreciating games or the industry — or finding their joy in some other way. GamesBeat's own story and its ethos are really about individuals. We are not here to mimic what the biggest game media companies already do. One of the stories I felt best about doing was the mourning of Carter Lipscomb, a game industry veteran who passed away earlier this year. It seemed like just about everybody in the industry had a story to tell about Carter's bear hugs and zest for life. Now it's time to leave the nest so that we can do a better job at our purpose; we are here to serve you. We do not simply serve up traditional objective journalism. We strive for perspective. Unique stories. Thoughtful analysis. A shelter where you put down your shields and swords at the door. And a joyful and inspirational community. Carter Lipscomb, a game industry veteran, has passed away. At the same time, we need your help. We have a fresh opportunity to be better at what we do. We can benefit from your own advice for us. This is the part where we feel like it's our public radio telethon. I know it is exceedingly easy to sit it out and not make a contribution. Then we wonder later where that resource has gone. We're not a nonprofit, but as an independent company, we need to grow to continue doing what we do for our community and for the industry. We need your support on many different levels. We would love it if you share our stories or support us with sponsorships. None of this would be possible without the support of our partners. So we can grow our team. Send us your exclusive story tips at tips@ We would welcome you at our events where you can find the right networking opportunities to get ahead. We would love it if you would encourage your friends to come. Or volunteer. Contact us for event info at events@ It's a tough and uncertain time, but we could use sponsors for our events, such as our upcoming GamesBeat Summit 2025 event on May 19-20 in Los Angeles. You can purchase your ticket here and we're offering a special 50% off as part of our celebration, in light of our announcement (GBSCELEBRATION50). Message us for sponsors/partnerships at partnerships@ I think we'll be OK, together. Most importantly, thank you.
