On The Deals Shaping Our Economy
🤔 What AI Bubble?
Nvidia crushed earnings expectations yesterday, silencing "AI bubble" fears and sparking a global market rally.
The big picture: Revenue surged 62% to $57bn, proving the insatiable demand for AI chips is nowhere near cooling off.
Why it matters: Tech stocks had wobbled recently on fears that AI spending was hitting a wall.
Nvidia just proved the wall is still far away.
The numbers: Net income jumped 65% to $31.9bn.
The reaction: Markets surged from Tokyo (Nikkei +3.7%) to New York (futures up). Bitcoin rallied back above $92k.
"There has been a lot of talk about an AI bubble. From our vantage point we see something very different."
The catch: For the first time, Nvidia warned that energy and capital constraints at data centers could eventually slow things down.
🌍 Trump's peace plan revealed
A new U.S.-Russian peace plan for Ukraine has been drafted, asking Kyiv to make significant territorial concessions in exchange for security guarantees.
Driving the news: Trump's envoy Steve Witkoff presented the 28-point plan to Ukrainian officials this week.
The deal:
Territory: Russia keeps the Donbas (Luhansk/Donetsk) and current lines freeze in Kherson/Zaporizhzhia.
The ask: Ukraine must cut its military by half and renounce long-range weapons.
The give: A U.S. security guarantee (but no foreign troops on the ground).
Between the lines: The plan is described as "heavily tilted towards Russia" by those who have seen it.
Zelensky's position is currently weakened by a domestic corruption scandal, giving Washington leverage to push the deal.
"We are now going to wait. The ball is in Zelensky's court."
📂 Epstein Fallout
President Trump has signed a bill releasing the Jeffrey Epstein files, a move aimed at exposing Democratic ties to the disgraced financier.
The fallout:
Larry Summers has stepped down from the OpenAI board after emails revealed he asked Epstein for advice on a relationship.
Political warfare: Trump is using the files to target high-profile Democrats, while Democrats argue it's a distraction from the administration's own controversies.
"Perhaps the truth about these Democrats and their associations with Jeffrey Epstein, will soon be revealed."
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