It's Nvidia's world now, we just live in it. In case there were any doubt, the chip designer NVDA.O forecast a 70% jump in revenue next fiscal year, a rare disclosure from the world's biggest company of sales so far ahead and a show of confidence from CEO Jensen Huang that demand for its AI chips will remain unabated as far as early 2028.
The stock was up almost 5% in after-hours trading, showing little sign of slowing down after a report in The Information that Nvidia has agreed to pay $12.9 billion to buy AI platform Hugging Face.
That's the same open-source platform that was hacked into last month by OpenAI, which created a swarm of approximately 700 AI agents which tried to cover their tracks, according to an independent investigation into the breach.
More details are trickling out about the behaviour of OpenAI's rogue agents, including the company's disclosure that some of the bots it spun up later broke into its own networks during tests gone wrong.
However unsettling for humanity that may be, all of that has been great news for Asian chipmakers in Nvidia's supply chain. MSCI's broadest index of Asia-Pacific shares outside Japan .MISX00000PUS was up 0.5%, led by a 1.8% rise in the KOSPI .KS11, which shrugged off a 25-basis-point rate hike from the Bank of Korea. S&P 500 e-mini futures EScv1 climbed 0.5%.
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