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close video Nvidia has huge shoes to grow into: Sarah Kunst

Cleo Capital Managing Director Sarah Kunst provides insight on key stocks to look at on Making Money.

Nvidia has emerged as one of the leaders of the tech companies racing to incorporate advanced artificial intelligence (AI) tools into their products, and the company’s stock has surged amid growth in demand with a 20% plus gain on Thursday alone. 

While there are no "pure play" AI stocks, as all the publicly-traded companies heavily involved in AI have other business offerings, Nvidia has come to be considered one of the leaders in the field despite being in a similar position. Ticker Security Last Change Change % NVDA NVIDIA CORP. 371.46 +66.08 +21.64%

Nvidia stock has soared by 113% year-to-date as of Wednesday’s close – outpacing some of the biggest names in tech and AI including Google and Microsoft which have enjoyed 30% growth in their share prices in the same period. After the market closed Wednesday and Nvidia held its earning call, its share price surged as much as 28% in after-hours trading to extend its lead as the world’s most valuable chipmaker and the fifth most valuable company on Wall Street.

Nvidia .

"Generative AI is driving exponential growth in compute requirements and a fast transition to Nvidia accelerated computing, which is the most versatile, most energy efficient and the lowest [total cost of ownership] approach to train and deploy AI," said Colette Kress, Nvidia chief financial officer and executive vice president. "Generative AI drove significant upside in demand for our products, creating opportunities and broad-based global growth across all markets."

NVIDIA STOCK SURGES ON DOMINANT A.I. MARKET POSITION, BUY RECOMMENDATION FROM HSBC

Nvidia has emerged as a major player in the tech sector’s push to deploy AI solutions. (Photo by Justin Sullivan/Getty Images / Getty Images)

Nvidia is deeply involved in AI in a number of areas, as it produces semiconductors, high-end graphics processing units (GPUs) and application programming interfaces (APIs) used in supercomputers and machine learning applications. Both GPUs and APIs are used in the process of training machine-learning models, and require sophisticated semiconductors, or computer chips, to generate the computing power needed to carry out the task of processing vast quantities of data.

Kress explained that several prominent tech companies with cloud data storage offerings – including Google Cloud, Oracle Cloud and Microsoft Azure – are seeing "strong demand" from "generative AI pioneers" and deploying Nvidia’s tools to satisfy it.

"Enterprise demand for AI and accelerated computing is strong. We are seeing momentum in verticals such as automotive, financial services and telecom where AI and accelerated computing are quickly becoming integral to customers’ innovation roadmaps and competitive positioning," Kress said.

ARTIFICIAL INTELLIGENCE: FREQUENTLY ASKED QUESTIONS ABOUT AI

Nvidia’s stock prices surged to record highs after a blockbuster earnings report. (REUTERS/Robert Galbraith / Reuters)

Nvidia AI Enterprise has more than 100 frameworks, pre-trained models and development tools that are focused on various tasks, such as speeding up data science tasks and AI model development.

She went on to say that Bloomberg is using Nvidia tools for a 50 billion parameter model, while AT&T is "working with us on AI to improve fleet dispatches so their field technicians can better serve customers."Ticker Security Last Change Change % MSFT MICROSOFT CORP. 313.85 -1.41 -0.45%GOOGL ALPHABET INC. 120.90 -1.66 -1.35%ORCL ORACLE CORP. 98.32 -0.22 -0.22%

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Nvidia has a partnership with Microsoft in which it will integrate enterprise-ready AI software into Microsoft’s Azure Machine Learning platform to help Azure customers rapidly build and deploy custom applications. 

"Our collaboration with Microsoft transformed Windows into the ideal platform for creators and designers harnessing generative AI to elevate their creativity and productivity," Kress noted.

Reuters contributed to this report.

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In Washington DC and Gaza two very different families are united by one very rare disease

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In Washington DC and Gaza two very different families are united by one very rare disease

It is a paradox that humanity at its very worst so often also brings out its very best too.

This is a story about the kindness of strangers. It’s a story about hope over hopelessness. It’s about the war in Gaza but also about the rarest of diseases.

It is about two families in worlds far apart. It is a story about two little girls, Julia and Annabel.

I don’t yet know how it will end. But this is how it started.

It was two weeks ago when my phone pinged: a message on Instagram from a friend-of-a-friend. Her name is Nina Frost.

Nina and I first met a few years ago at a party in Washington DC where she had told me about her daughter Annabel, a little girl with an ultra-rare genetic disorder called AHC.

I remember Nina explaining how it was a disease like no other.

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‘The human time bomb disease’ she had called it, based on the all-consuming parental nightmare that their little girl could have a fatal seizure at any moment.

Image:
The Frost family

I’ve followed Nina’s Instagram, @HopeForAnnabel since we first met.

The good news is that Annabel is doing well, albeit with that eternal danger hanging over her. She requires constant care, attention and love.

Nina’s message to me wasn’t about her own daughter. It was about another little girl, in Gaza.

Rare diseases like AHC, which stands for Alternating Hemiplegia of Childhood, generate tight networks; the families living with the condition. Only about 1,000 people worldwide have been diagnosed with AHC. It really is rare.

“There is a little girl stuck in Gaza with the disease,” Nina wrote to me.

“Julia is three – after the last few months she has become paralyzed and unable to eat as her symptoms have worsened dramatically. We are desperate to help as she is massively vulnerable – literally on the brink of death.”

Julia Abu Zaiter is from northern Gaza originally. But with her father Amjad, her mother Maha and her older sister Sham, she was forced south by the Israeli military.
Image:
Julia’s mother administers medication

Nina told me how she and her husband, Simon, are trying to organise the impossible: to get specialist drugs into Gaza and, ultimately, to try to get Julia and her family out.

Nina was modest about an endeavour that I now know has been all-consuming and expensive.

To tell this remarkable story of kindness and hope, I asked Nina to share with me Julia’s father’s number. Our local colleagues in Gaza then tracked the family down to a tent in the southern city of Rafah.

Julia Abu Zaiter is from northern Gaza originally. But with her father Amjad, her mother Maha and her older sister Sham, she was forced south by the Israeli military.

“My girl is three and a half years old. I want her to go out and play with the other children. Now, she cannot move at all,” Julia’s mother told our team, cradling her severely disabled little girl.

Rare diseases like AHC, which stands for Alternating Hemiplegia of Childhood, generate tight networks; the families living with the condition. Only about 1000 people worldwide have been diagnosed with AHC. It really is rare.
Image:
Annabel Frost

Rafah is on Gaza’s southern border with Egypt. Safety is so close and yet beyond reach unless the right strings are pulled with different authorities and governments in a labyrinth of wartime bureaucracy.

The images filmed by our team confirm what Nina had feared in her message to me.

Julia and her family are in the toughest of conditions. The house next to the tent was bombed a few days before our team visited.

The Abu Zaiters are now stuck in the city that could be the next battlefield and with a daughter whose condition is compounded by just the slightest stress, a little girl with, as Nina had told me, the ‘time bomb disease’.

“I told myself ‘it’s over, my girl is gone’,” Julia’s mother told our Gaza team, showing them Julia’s semi-paralysed state.

“Then a man named Simon contacted us and told us he will see if he can help, because his daughter’s situation is similar to mine.”

Five thousand miles away, and a world apart, in a leafy northwest suburb of Washington DC, I am now sitting with Simon, Nina and Annabel.

Julia Abu Zaiter
Image:
Julia Abu Zaiter

It is humbling to listen to their words – about their own daughter, but about their fight for a stranger too.

“Annabel lives with the most challenging condition that we can imagine – a neurological degeneration – and she lives with it with a smile on her face,” Simon says. “And we’re imagining the same for Julia in the most dire of circumstances.”

We look at videos of Julia which Amjad has sent to Simon.

“Our kids are all so similar… we feel a sense of connection to so many families and our world of rare disease,” Nina tells me.

“This is like that but on steroids. I mean, we feel so distressed for the situation that they’re facing.”

“Julia’s circumstances are exponentially worse, but I think we’ve always embraced the idea that we can do something to help, we must do something to help and that we should. I mean, I think it’s always been if not us, then who?” Nina adds.

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Amjad’s message highlights concerns he has about his daughter. He is looking for reassurance from Simon.

Julia is experiencing some severe paralysis and via a translated SMS and a few photos, Amjad wants some encouragement which Simon can’t give.

“They don’t have the medicines they need and the doctors that they need to really treat and properly prevent episodes and to address them when she has them,” Simon says.

“So we’ve been trying to gather a group that can support her. It’s been constant communication and really difficult with the translation issues,” Simon tells me.

Over in Gaza, Julia’s mum is desperate. “Our conditions due to the war are below zero.

“Our situation is horrible. I cannot provide my daughter with any food or drinks. I can get medications through lots of difficulty, and I tell myself that getting these medications is more important than getting food for us.”

Rare diseases like AHC, which stands for Alternating Hemiplegia of Childhood, generate tight networks; the families living with the condition. Only about 1000 people worldwide have been diagnosed with AHC. It really is rare.
Image:
The Frosts speak to Sky’s Mark Stone

Against the odds, Simon has managed to coordinate with the right people to get the right medication into Gaza for Julia.

Through the tight AHC network, one doctor has prompted another who knows another and another. That’s how this works. Threads of kindness stitched together.

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Now the challenge is getting Julia out to Egypt and then on a medical flight to Abu Dhabi. It will be hard, maybe impossible.

“And it seems like she’s really declined,” Nina says looking at the latest videos of Julia.

“I mean, it seems like exactly what we would have predicted has happened. She has gone from being a happy three-year-old with a profoundly difficult disease to being this shell of herself.”

“I feel like I am losing her,” Maha says with Julia in her arms. “She is dying right next to me and I cannot even do anything. The thing I fear the most is losing my daughter.”

There is some chance of an extraction to safety soon. It is not guaranteed but it is some hope for one little girl in a place where uncertainty is all around.

This is a story about two families worlds apart but bound by a disease.

I don’t yet know how it will end. This may feel sometimes like a world of hopelessness, but I have some hope.

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UK

Rishi Sunak urges Tories to stick with his leadership after party suffers shock election losses

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Rishi Sunak urges Tories to stick with his leadership after party suffers shock election losses

Rishi Sunak has urged Tories to stick with his leadership despite the Conservatives’ shock defeat in the West Midlands mayoral election, which capped a dire few days of results for the party.

Sir Keir Starmer called it a “phenomenal result” which was “beyond our expectations” as Labour’s Richard Parker ousted Tory incumbent Andy Street, who had held the role for seven years.

The margin of victory was a cruelly tight 1,508 votes, and compounded Conservative disappointment as it followed another loss to Sadiq Khan in London, who secured a record-breaking third term as the capital’s mayor.

Local elections live
The mayoral election results

“People across the country have had enough of Conservative chaos and decline and voted for change with Labour. Our fantastic new mayor Richard Parker stands ready to deliver a fresh start for the West Midlands,” Sir Keir said.

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‘Devastated’ Andy Street refuses to blame Sunak after West Midlands defeat

However, in an effort to win back those who had deserted his party over Labour’s stance on Gaza, he added: “I say directly to those who may have voted Labour in the past but felt that on this occasion that they couldn’t that across the West Midlands we are a proud and diverse community.

“I have heard you. I have listened. And I am determined to meet your concerns and to gain your respect and trust again in the future.”

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Labour suffered losses to independents and George Galloway’s Worker’s Party of Britain in areas with large Islamic populations as a result of the war between Israel and Hamas.

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Starmer speaks at East Midlands victory rally

But the party virtually swept the mayoral elections board across England, winning in Liverpool, South Yorkshire, West Yorkshire, and in Greater Manchester, where Andy Burnham returned to power.

The Tees Valley was the only remaining splash of blue left on the mayoral election map, where Lord Ben Houchen managed to cling to power despite a huge 14.1-point swing to Labour.

Lord Houchen’s victory was also mired by allegations he had sought to distance himself from Rishi Sunak and the Conservative Party at large during his campaign.

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Sadiq Khan re-elected as London Mayor

Losing Mr Street, who is widely respected in the Tory Party and had an impressive track record of bringing investment into the West Midlands, is a body blow to the prime minister.

Despite the drubbing, Mr Sunak urged his party to stick with his leadership and his plan for government.

In a statement, he said: “It’s been disappointing of course to lose dedicated Conservative councillors and Andy Street in the West Midlands, with his track record of providing great public services and attracting significant investment to the area, but that has redoubled my resolve to continue to make progress on our plan.

“So we will continue working as hard as ever to take the fight to Labour and deliver a brighter future for our country.”

Pic: Reuters
Image:
Rishi Sunak with Tees Valley mayor Lord Ben Houchen Pic: Reuters

However, Suella Braverman, the former home secretary, was quick to lay the blame for Tory losses firmly at the door of Number 10.

But she said ousting Mr Sunak “won’t work”, adding: “The hole to dig us out of is the PM’s, and it’s time for him to start shovelling.”

She urged him to adopt “strong leadership, not managerialism” on tax, migration, small boats, and law and order.

But Mr Street took a different view, encouraging the party not to veer to the right.

Asked if he is worried the party is drifting to the right and over-emphasising the threat from Reform UK while “ignoring other voters”, the outgoing mayor told Sky News: “I would definitely not advise that drift.

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Analysis of local election and mayoral results

Read more:
Charts tell story of Conservative collapse
Who is the new West Midlands mayor Richard Parker?

“The psychology here is really very straightforward, isn’t it? This is the youngest, most diverse, one of the most urban places in Britain, and we’ve done, many would say, extremely well over a consistent period,” Mr Street said.

“The message is clear: winning from that centre ground is what happens.”

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‘We will give this region a fresh start’ – Labour’s Richard Parker

Results are in from 106 of the 107 councils in England that held elections on 2 May, and Labour has won 1,140 seats, an increase of more than 200.

The Liberal Democrats beat the Tories into second place, winning 521 seats, up nearly 100.

The Tories were just behind on 513 seats, down nearly 400.

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Politics

Bitfinex database breach ‘seems fake,’ says CTO

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<div>Bitfinex database breach 'seems fake,' says CTO</div>

Bitfinex CTO Paolo Ardoino explained that if the hacking group was telling the truth, they would have asked for a ransom, but he “couldn’t find any request.”

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