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Nvidia ( NVDA -3.22% ) did it again. The AI chip superstar delivered another round of smashing results, easily beating estimates in its third-quarter earnings report on Nov. 20. Revenue jumped 94% in the quarter to $35.1 billion, which topped the consensus at $33.1 billion, and adjusted earnings per share (EPS) more than doubled from $0.40 to $0.81, ahead of estimates at $0.75. Shares pulled back slightly on the news as investors have gotten accustomed to the chip titan regularly besting expectations, and some analysts wanted to see stronger fourth-quarter guidance, which called for $37.5 billion in revenue -- a 70% increase from the quarter a year ago. At the time of this writing, Nvidia is now worth $3.5 trillion. It's the most valuable company in the world, but it's only natural to wonder if it will be the first to make it to the $4 trillion milestone. That seems likely, and it could happen sooner than you think. 1. Supply is still the biggest constraint Nvidia has been reporting eye-popping revenue growth since the launch of ChatGPT. In fact, this was the first time in six quarters that the company failed to deliver triple-digit sales growth, though you're not going to hear any complaints about a 94% jump on the top line. Even as Nvidia's growth naturally moderates, the amount of revenue it's adding each quarter is still expanding, showing that the business is still accelerating. But what's even more impressive is that its third-quarter revenue increase doesn't reflect the underlying demand for its product. That continues to outstrip supply, which is constrained by Taiwan Semiconductor Manufacturing 's ability to produce its chips. On the third-quarter earnings call, chief financial officer Colette Kress described demand for the new Blackwell platform as "staggering" and demand for the legacy Hopper platform as "exceptional." Speaking about the Blackwell platform, she added, "We are racing to scale supply to meet the incredible demand customers are placing on us," and she forecast that Blackwell demand would exceed supply for several quarters in fiscal 2026. It's impossible to quantify the company's demand, but its quarterly revenue should be seen as a baseline for its potential revenue rather than an accurate reflection of demand for its products. 2. It has beaten back the bears Wall Street is overwhelmingly bullish on Nvidia and has been for some time. Even as the company slipped on the earnings report, over a dozen analysts raised their price targets on the stock. But there are bearish arguments against the stock. First, some investors believe that competition will eventually erode Nvidia's advantage. However, AMD and Intel have already launched their competing AI accelerators, and so far, they do not seem like a threat to Nvidia. AMD stock fell after its third-quarter earnings report due to disappointing guidance, and it said it would lay off 4% of its workforce. Intel, meanwhile, faces a wide range of challenges after announcing a massive restructuring in August. Nvidia's data center revenue run rate has now reached $120 billion, and with built-in competitive advantages like its CUDA software library, catching it may be impossible. Another bearish view cites concerns about an " AI bubble " forming as Wall Street is anxious to see more revenue from Nvidia's customers, including cloud hyperscalers. But the chipmaker's report should push back on that narrative as well because the company is experiencing demand from a wide range of companies, which are using AI for purposes well beyond large language models. Asked about scaling limitations on large language models, CEO Jensen Huang responded that scaling up is continuing and is going beyond its conventional focus in training to post-training and inference. While a risk of a bubble forming always exists in any high-growth asset class, Nvidia's results indicate there's no sign of a pullback so far, nor do there seem to be underlying structural concerns. 3. The stock is cheaper than it looks After the third-quarter report, Nvidia now trades at a trailing price-to-earnings ratio (P/E) of 55, which is roughly double that of the S&P 500 , but the business is growing so fast that trailing metrics don't really tell the story. It reported adjusted EPS of $0.81 in the third quarter, and extrapolating that over four quarters would give you a P/E of 44, which seems to be a more accurate reflection of its existing valuation. Even forward estimates don't seem to be the best indicator, since Nvidia regularly tops them. Currently, the consensus calls for earnings of $4.31 per share in fiscal 2026, which ends in January 2026. Based on that forecast, the stock has a forward P/E of just 34. Over the last four quarters, however, Nvidia has beat consensus EPS by an average of 9%. If it continues that pattern, the company will deliver EPS of at least $4.70 next year, giving it a forward P/E of 31, nearly on par with the broad market. Those ratios don't even factor in the chipmaker's soaring growth as its EPS is still doubling on a year-over-year basis. $4 trillion is within sight To reach a market cap of $4 trillion, the stock would only have to gain 14% from here, which seems very possible by the end of the year. Nvidia just delivered another flawless round of results, and it remains the dominant force in the next major computing platform. The company will get to a $4 trillion market cap at some point. The only question is when.

French lawmakers on Wednesday voted to oust the government of Prime Minister Michel Barnier after just three months in office, a historic move which hurled the country further into political uncertainty. For the first time in over sixty years, the National Assembly lower house toppled the incumbent government, approving a no-confidence motion that had been proposed by the hard left but which crucially was backed by the far-right headed by Marine Le Pen. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.Even with access to blockbuster obesity drugs, some people don't lose weightHappy scores 16 as Princeton downs Portland 94-67 at Myrtle Beach Invitational

OpenAI CEO Sam Altman expressed confidence Wednesday that Elon Musk would not use his proximity to Donald Trump to harm business rivals, calling such actions "profoundly un-American." Speaking at the New York Times DealBook conference, Altman addressed concerns about Musk's announced role heading a new Department of Government Efficiency in the incoming Donald Trump administration, and whether he might use it to favor his own companies. "I may turn out to be wrong, but I believe pretty strongly that Elon will do the right thing," Altman said. "It would be profoundly un-American to use political power to hurt your competitors and advantage your own businesses." Even if there are "lots of things not to like about him... it would go so deeply against the values I believe he holds very dear to himself that I'm not that worried about it." Musk, an OpenAI co-founder who later departed the company, is currently suing Altman's firm and Microsoft, claiming they shifted from the project's original nonprofit mission. He has since launched xAI, reportedly valued at $50 billion, making it one of the world's most valuable startups. Altman said that the court battle was "tremendously sad" and that he once saw Musk as "a mega hero." Musk became a close ally of Trump during his campaign, spending over $100 million to boost his presidential bid and joining him at rallies. Since the election victory, he has been a frequent presence in the Trump transition and was reportedly on the line when Google CEO Sundar Pichai called the president-elect to congratulate him on winning the election. The tycoon's businesses have deep connections with governments -- both in the United States and elsewhere -- and his new position has raised concerns about conflict of interest. During the interview, Altman also lowered expectations for the importance of OpenAI's models achieving artificial general intelligence (AGI), a benchmark of human-level intelligence the company has long set as the goal for its technology. "My guess is we will hit AGI sooner than most people in the world think, and it will matter much less," he said. "A lot of the safety concerns that we and others expressed actually don't come at the AGI moment... AGI can get built. The world goes on mostly the same way," he said.

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LANDOVER, Md. (AP) — The ball bounced through KaVonte Turpin’s legs and stopped at the 1-yard line. He picked it up, made a spin move and was off to the races. was the highlight of the at Washington on Sunday that ended their losing streak at five. That came with just under three minutes left, and then an onside kick for a TD to provide a little happiness in the middle of a lost season. “Feels good to win,” coach Mike McCarthy said. “It’s been a minute.” Chauncey Golston ripping the ball out of Brian Robinson Jr.‘s hands for what counted as an interception of Commanders rookie quarterback Jayden Daniels and Donovan Wilson forcing a fumble of John Bates earlier in the game helped put the Cowboys in position to make it a game, as did the play of Cooper Rush. Turpin’s monster return after initially muffing the retrieval had everyone buzzing. “He did that for timing,” McCarthy said. “That was part of the plan. He’s a special young man. Obviously a huge play for us.” Commanders safety Jeremy Reaves, the All-Pro special teams selection two seasons ago, was the first one down the field and blamed himself for not tackling Turpin when he had the chance. “I’ve made that play 100 times,” Reaves said. “I didn’t make it today, and it cost us the game.” Turpin’s spin move will likely be replayed over and over — and not stopped by many. Receiver CeeDee Lamb called it “his escape move” because Turpin has been showing it off in practice. “I know I can just get them going one way and then spin back the other way,” Turpin said. “That’s just one of my moves when I’m in trouble and I’ve got nowhere to go: something nobody ever seen before.” In a wacky finish that McCarthy likened to a game of Yahtzee, Thomas’ return was almost as unexpected. It came with 14 seconds left after Washington kicker Austin Seibert missed the extra point following Daniels’ 86-yard touchdown pass to Terry McLaurin to leave Dallas up 27-26. “I kind of waited a second and I was like: ‘Should I try? Should I try?’” Thomas said. “I said, ‘I think I’m gonna score the ball,’ so just ran and I scored.” The Cowboys’ playoff odds are still incredibly long at 4-7, but with the New York Giants coming to town next for the traditional Thanksgiving Day game at Dallas, players are willing to dream after winning for the first time since Oct. 6. “Lot of games left,” said Rush, who threw two TD passes. “Pretty insane. ... I think both sides of the ball and special teams picked each other up all game. I think it was a full team effort. Finally picking each other up like we’re supposed to.” ___ AP NFL:

HNB PLC yesterday announced the official appointment of Damith Pallewatte as Managing Director/Chief Executive Officer, effective from 22 November 2024, following on his previous appointment as Acting CEO in April this year. A veteran Banking and Risk Management Professional with over 28 years of experience, including over 14 years in Senior and Corporate Management positions, Pallewatte brings a wealth of diverse experience to his new role. His career has spanned the full spectrum of banking operations, including Strategy and Risk Management, Credit, Branch Banking and Operations, and most recently as Deputy General Manager of HNB’s Wholesale Banking Group, prior to being appointed as Acting CEO. “For generations HNB has served as a crucial lynchpin of the national economy, and a partner in progress to all Sri Lankans. We have steadily established a reputation for trust, integrity, and innovation, by providing best-in-class banking and financial services, and continuously enhancing the capabilities of our people, and our technological infrastructure. These investments have uniquely positioned HNB to serve as a catalyst for a robust, grassroots-led economic recovery, and I am honoured to have been entrusted with the job of leading this remarkable institution through this critical moment in our nation’s history. Moving forward, we remain focused on rebuilding Sri Lankan enterprise – from SMEs to large corporates, while supporting the aspirations of our valued retail customers,” Pallewatte said. Prior to his appointment as MD/CEO Pallewatte served as Acting CEO effective from April 2024, following a remarkable track record of success at the helm of HNB’s fast growing Wholesale Banking Group (WBG). Under his custodian leadership, HNB Group has successfully consolidated its strong growth momentum, recording Rs. 38.7 billion in PBT for the 9 months of FY24, showcasing substantial capital and liquidity levels. Elaborating on the bank’s top priorities over the coming year, Pallewatte explained how HNB would continue to focus on inclusive growth, MSME revival, trade and export facilitation, digital banking innovation, disciplined risk management, and strategic partnerships that foster maximum value for customers and the nation. “Exemplified by endeavours such as obtaining an Authorised Person License for the Colombo Port City SEZ to take by offering world-class integrated banking solutions to the world, we’re positioning HNB and Sri Lanka as a key South Asian hub for global services exports, shaping the future of finance. As we navigate this transformative period, we remain committed to driving sustainable growth and innovation, reinforcing our role as a critical player in the nation’s economic resurgence,” Pallewatte asserted. Commenting on the ongoing effort to expanding HNB’s value proposition beyond the borders of Sri Lanka, he noted that current discussions with regard to the potential acquisition of Bank Alfalah’s Bangladesh operation would also play a critical role in HNB’s next chapter of growth. In addition to his leadership roles at HNB, Pallewatte also serves as Chairman at Acuity Partners Ltd, Acuity Securities Ltd. and Director of Lanka Financial Services Bureau Ltd. Further enriching his profile, Pallewatte also serves as Chairman of Lanka Ventures PLC and LVL Energy Fund PLC showcasing his expertise in venture capital and renewable energy investments across Sri Lanka, Bangladesh, and Nepal. He was recently appointed as Vice President/Director of the International Chamber of Commerce in Sri Lanka. Pallewatte holds an MBA from PIM-SJP, a BSc. Management (Hons.) from the London School of Economics (LSE) and is a Fellow of the Chartered Institute of Management Accountants (UK), a Chartered Global Management Accountant, and a Certified Financial Risk Manager from the Global Association of Risk Professionals (GARP). He is also an ACI Operations Certificate holder of the Financial Markets Association—France and holds a Sustainability and Climate Risk Certificate (SCR) from GARP, underscoring his dedication to advancing financial, social, and environmental sustainability practices.Croatia's president faces conservative rival in election run-offCCT chairman: The missteps of lawmakers and lawyers