Jensen Huang: Europe Lags Behind the US and China in AI Investment
Jensen Huang, CEO of AI chipmaker Nvidia, has expressed concerns about the European Union’s lag in artificial intelligence (AI) investment compared to the United States and China. He noted that while Europe has only a handful of AI companies, such as France’s Mistral and Germany’s Aleph Alpha, the EU has enacted the world’s first comprehensive regulations for managing AI, which came into effect in August. During his recent visit to Copenhagen, Huang remarked, “The EU must accelerate its progress in the field of AI.” He added, “Every country is waking up to the realization that data is a national resource.”
Soft Demand Raises Concerns for UPS This Quarter
As Wall Street anticipates that United Parcel Service (UPS) will release its financial report on the 24th, concerns are mounting over soft demand during the important holiday delivery season, despite expectations for growth in adjusted earnings. According to Refinitiv data, analysts predict the global shipping giant will report adjusted earnings per share of $1.63 for the third quarter. While this figure will easily surpass last year’s results, it may not alleviate concerns about the fourth quarter, traditionally known for a surge in package volume.
Hilton Lowers Revenue Growth Forecast
Hilton Worldwide has revised its upper limit for full-year room revenue growth downward, citing a decrease in discretionary income among American consumers that has led to reduced domestic travel spending. The company now expects room revenue growth for 2024 to be between 2% and 2.5%, down from the previous estimate of 2% to 3%. For the third quarter, Hilton reported earnings per share of $1.92, compared to $1.67 for the same period last year, with total revenue for the quarter reaching $2.87 billion, up from $2.67 billion a year earlier.
Tesla to Sell Home Battery Systems in Japan
According to a report by Nikkei, Tesla plans to sell its Powerwall home battery systems in Japan through the electronics retail chain Yamada Denki. The electric vehicle giant aims to accelerate distribution of its home battery systems in Japan by collaborating with Yamada Holdings, the operator of the chain, which has around 1,000 stores nationwide.
AT&T Exceeds Customer Growth Expectations Last Quarter
In the third quarter, AT&T added more wireless subscribers than expected, driven by the steady adoption of its premium unlimited plans, which come with perks like increased hotspot data. The company reported a net addition of 403,000 postpaid wireless phone subscribers from July to September, surpassing Visible Alpha’s estimate of 393,430. This premium offering helps AT&T stay competitive in the saturated U.S. telecom market.
