Chris Campbell:

Nvidia Reportedly Agrees To Acquire Hugging Face for $12.9 Billion

Nvidia has agreed to buy Hugging Face for $12.9 billion, The Information reported late Wednesday, after days of reports that a deal between the chip giant and the open-source AI developers' repository was imminent.

Neither company replied to requests for comment on Thursday. Business Insider reported Wednesday that discussions between the two companies were still ongoing and a final agreement had not yet been reached. Hugging Face, founded in 2016, was valued at $4.5 billion in 2023.

If completed, the deal would give Nvidia deeper entry into the open-source AI space, even as tech firms debate the safety of open-source models. A group of tech company leaders including Nvidia CEO Jensen Huang and Microsoft CEO Satya Nadella shared an open letter in July urging U.S. lawmakers not to impose "premature restrictions" on open-weight AI models that could "stifle competition or drive innovation overseas."

Hugging Face recently made headlines after an OpenAI model escaped a testing environment in July and hacked Hugging Face's systems as it attempted to complete a task.

⇒ Read More Here

Davis Wilson:

NVDA >>> "More Bullish Than Ever"

Nvidia did it again. Another quarter. Another blowout earnings report. Another reminder that the AI buildout is accelerating – not slowing down.

The company reported revenue of $96.2 billion, earnings per share of $2.22, and a next quarter revenue projection of $108 billion. All of these figures were well ahead of Wall Street expectations.

Every quarter, investors ask the same question: "How much longer can this last?" And every quarter, Nvidia gives the same answer. Demand is still accelerating. Customers are still spending. And management continues investing aggressively because it sees an even bigger opportunity ahead.

Meanwhile, the stock trades at a discount valuation – not one you'd expect for the company at the center of the biggest technology buildout in decades. At some point, Wall Street will have to reconcile those two facts.

Either Nvidia's growth slows dramatically or investors finally assign the stock a valuation that reflects its earnings power. After listening to Wednesday's earnings call, I'm betting on the latter.

Click the link below for my four biggest takeaways from the call.

⇒ Read More Here

James Altucher:

How You Get Rich Isn't How You Stay Rich: 300 Years of Proof | Joseph Moore

In 1790, one of the easiest ways to get rich in America was the old-fashioned way: marry someone rich. And back then, debt was not just annoying. It could land you in debtor's prison. Actual prison. And not just you – your wife and kids could go too.

The latest guest of The James Altucher Shows, Joseph Moore, has written a book on how the American pursuit of financial security has evolved since then: How to Get Rich in American History: 300 Years of Financial Advice That Worked (& Didn't).

The book is full of strange, funny, surprising stories about money in America: debtor's prison, the Great Depression, crypto, and more.

But the bigger lesson is that the basic patterns have not changed as much as we think. People want security. People want freedom. People want a way out. And whenever there is hope, there is usually someone selling a formula.

Joseph has very little patience for the usual personal finance myths. Debt does not make you rich. Opportunity makes you rich. And optimism, marriage, mobility, risk, and solving other people's problems may matter more than almost anything else.

If you think the rules for getting rich have shifted completely, this conversation may convince you how little human nature has changed.

⇒ Listen Here