tech
CNBC Daily Open: Does Nvidia need a hug?
Reports emerge that Nvidia could be in talks to buy Hugging Face, after the AI giant soars past revenue forecasts, sending the stock higher.
TL;DR
- Nvidia projects fiscal 2028 sales to increase by 70%, surpassing optimistic Wall Street predictions.
- The AI giant is reportedly in talks to acquire Hugging Face for around $13 billion.
- Anthropic has agreed to a roughly $45 billion cloud deal with UK-based AI infrastructure company Nscale.
- Meta reached a $16.7 billion settlement with state attorneys general over allegations concerning child mental health harms.
- Oil prices are depressed following Iran's claim of a deal with Oman to resume vessel traffic through the Strait of Hormuz.
- Economists surveyed by CNBC want Federal Reserve Chairman Kevin Warsh to share more on his economic views at Jackson Hole.
- Squishy toys have seen a surge in popularity, with U.S. sales reaching about $297 million through June, quadrupling from a year earlier.