m fb777 ph (Bloomberg) -- Nvidia Corp. assured investors that its new product lineup will continue to fuel an artificial intelligence-driven growth run, while also signaling that the rush to get chips out the door is proving costlier than expected. Listen to the Bloomberg Daybreak Europe podcast on Apple, Spotify or anywhere you listen. Speaking after the release of quarterly results, Chief Executive Officer Jensen Huang said that Nvidia’s highly anticipated Blackwell products will ship this quarter amid “very strong” demand. But the production and engineering costs of the chips will weigh on profit margins, and Nvidia’s sales forecast for the current period didn’t match some of Wall Street’s more optimistic projections. That brought a tepid reaction from investors, who had bid up Nvidia shares almost 200% this year heading into the earnings report. After that dizzying rally, which turned the chipmaker into the world’s most valuable company, anything but a blowout quarter was bound to be a disappointment. The shares fell as much as 3.6% on Thursday before rebounding by the afternoon. They closed up 0.5% at $146.67. Nvidia predicted fiscal fourth-quarter sales of about $37.5 billion. While the average analyst estimate was $37.1 billion, projections ranged as high as $41 billion. “The guidance seems to show lower growth, but this may be Nvidia being conservative,” said Alvin Nguyen, an analyst at Forrester Research Inc. “Short term, there is no worry about AI demand. Nvidia is doing everything they should be doing.” The company’s biggest moneymaker is its accelerator chip, which helps develop artificial intelligence models by bombarding them with data. Since OpenAI’s ChatGPT chatbot debuted in 2022, a frenzy of AI services has created insatiable demand for the product. All About Nvidia Chips, AI Hype and What Lies Ahead: QuickTake Wall Street has been closely watching the launch of Blackwell, the latest entry in that category, which is faster and has an improved ability to link up with other semiconductors. Manufacturing challenges have slowed the rollout, and Nvidia warned again of supply constraints on Wednesday. Demand for the products is expected to exceed supply for several quarters. “Critical questions around Blackwell’s production ramp and customer concentration remain key concerns,” Emarketer analyst Jacob Bourne said in a note. “There’s little room for execution missteps in 2025.” Huang said that Blackwell is now in “full production,” and there’s still an appetite for Hopper, the previous design. “Blackwell is now in the hands of all of our major partners,” he said during the conference call. But the switch to Blackwell has taken a toll on profitability. The company’s gross margin, which measures the percentage of sales remaining after deducting the cost of production, will dip to as low as 73% this quarter from 75% in the previous period. The figure is expected to rebound when the new products reach larger-scale production, and the economics are more favorable. When asked whether Nvidia’s gross margin could be back in the mid-70s by the middle of next year, Chief Financial Officer Colette Kress said that’s a reasonable assumption. Nvidia remains far above its peers in this category: Its nearest rival, Advanced Micro Devices Inc., has a gross margin that’s 20 percentage points narrower. Intel Corp.’s isn’t even half of Nvidia’s total. Nvidia’s growth over the past two years has been staggering. Its sales are poised to double for a second year in a row, and it now notches more money in profit than it used to generate in total revenue. Nvidia’s revenue rose 94% to $35.1 billion in the fiscal third quarter, which ended Oct. 27. Excluding certain items, profit was 81 cents a share. Analysts had predicted sales of about $33.25 billion and earnings of 74 cents a share. Nvidia’s biggest division, the data center unit, saw revenue double from a year earlier to $30.8 billion. That beat Wall Street estimates. But networking revenue within that unit declined sequentially, and the business is more dependent than ever on a small group of customers: cloud service providers. That cohort, which includes companies such as Microsoft Corp. and Amazon.com Inc.’s AWS, accounted for 50% of data center revenue, up from 45% in the prior period. Investors want that number to go down, to show that the use of AI is spreading across the economy. Other recent earnings reports have given strong signals for AI. Nvidia customers, including Microsoft, Amazon and Meta Platforms Inc., have reaffirmed their commitment to spend heavily on AI infrastructure. WATCH: Nvidia's Surprising AI Origin Story Nvidia has only missed analysts’ estimates on quarterly revenue once in the past five years. And it has exceeded expectations by as much as 20% in recent periods, creating a high bar for its performance. Its data center division alone now has more revenue than rivals Intel and AMD have in total, combined. Net income this year is on course to exceed revenue at Intel, a business that was the chip industry’s biggest company for decades. Nvidia made its name by selling graphics processors, but discovered that the technology also has applications for AI. Its chips help software models during the training process, when they learn to recognize and respond to real-world inputs. Nvidia’s components are also used in systems that then run the software, a stage known as inference, and help power services such as ChatGPT. The Santa Clara, California-based company has rapidly expanded its product lineup to include networking, software and services, as well as fully built-out computer systems. Huang is traveling the world lobbying for a broader adoption of his technology and trying to spread its use by corporations and government agencies. “The age of AI is upon us and it’s large and diverse,” Huang said. More stories like this are available on bloomberg.com ©2024 Bloomberg L.P.Installation view of the immersive multimedia exhibition, "Lee Ungno: A Great Artistic Journey, Seoul-Paris," at the Theatre des Lumieres at Grand Walkerhill Seoul / Courtesy of Tmonet, Lee Ungno Museum, Lee Ungno / ADAGP, Paris – SACK, Seoul, 2024 By Park Han-sol Room-filling immersive media art, once a groundbreaking sensation in the art world, has shed its novelty. As projection-based exhibitions featuring icons like Gustav Klimt, Vincent van Gogh and Claude Monet pop up seemingly everywhere, the sheer experiential spectacle alone is no longer enough to guarantee a boost in ticket sales. That said, these Instagrammable, technology-driven shows aren’t going anywhere anytime soon. Their format does indeed make art viewing far less intimidating; no prior knowledge of the artist is necessary to enjoy the whole experience. And when done right, they can cast a light on a painter’s work in unexpected ways, drawing the attention of even the most unlikely audiences to their oeuvre long after the curtain comes down. “Lee Ungno: A Great Artistic Journey, Seoul-Paris” at the Theatre des Lumieres in Grand Walkerhill Seoul is one of them. Read More How Lee Ung-no pioneered East-West fusion through brushstrokes Salvador Dali's dreamlike art illuminates Seoul's once-forgotten luxury hotel cabaret Former luxury hotel cabaret awash with Klimt's golden art "Lee Ungno: A Great Artistic Journey, Seoul-Paris" at the Theatre des Lumieres marks the first time the fervent brushwork of Korean modernist Lee Ung-no has come alive digitally on such a scale. Courtesy of Tmonet, Lee Ungno Museum, Lee Ungno / ADAGP, Paris – SACK, Seoul, 2024 This 14-minute segment, part of an hourlong program, follows a 35-minute showcase of Dutch masters ranging from Vermeer to van Gogh. Yet, despite its shorter duration, it carries far greater impact than its much-celebrated counterpart. First, there’s a sense of freshness to it. This marks the first time the fervent brushwork of Korean modernist Lee Ung-no (1904-89) has come alive digitally on such a scale. Over 100 of his paintings and calligraphic pieces, sourced from the Lee Ungno Museum’s collection, are animated lavishly across the floors and walls of the former luxury cabaret rising up to 21 meters high. The painter’s dynamic ink brushstrokes, which blend Eastern and Western artistic traditions in a myriad of unexpected visual experiments, are a perfect match for the spectacle of immersive media art — a format designed to captivate every wandering eye and ear, leaving no room for a moment of boredom. Installation view of "Lee Ungno: A Great Artistic Journey, Seoul-Paris" at the Theatre des Lumieres / Korea Times photo by Park Han-sol In Lee Ung-no's innovative "Abstract Letter" series, ancient Chinese characters and Hangeul were deconstructed into purely geometric, aesthetic building blocks, without retaining any association with their original meaning. Korea Times photo by Park Han-sol The psychedelic sensorium brings Lee’s creative odyssey to life against popping soundscapes. While his artistic journey began with Korean literati brushwork, his move to France in 1958 at the age of 54 ignited a bold exploration of the European Art Informel style — but infused with his distinct Eastern calligraphic sensibilities. He embraced both the calligraphic heritage of Korea and the energy of Western abstraction — spanning from semi-3D paper collages, crafted with crumpled “hanji” (traditional Korean mulberry paper) and newspapers, to the groundbreaking “Abstract Letter” series. In this series, ancient Chinese characters and Hangeul (Korean alphabets) were deconstructed into purely geometric, aesthetic building blocks, without retaining any association with their original meaning. Among the feverishly dancing letters in the exhibition is “Composition” (late 1970s), a brightly-colored, abstract family portrait of three, whose shape is inspired by the Chinese character for “good” (好). In Lee Ung-no's tour de force "Gunsang" (People) series, swarms of inky, faceless humans fill the entire room, their arms stretched toward the sky, torsos arched, leaping and running in a chaotic dance of movement. Courtesy of Tmonet, Lee Ungno Museum, Lee Ungno / ADAGP, Paris – SACK, Seoul, 2024 Created in response to the 1980 pro-democracy Gwangju Uprising, human figures in Lee Ung-no's "Gunsang" series seem locked in a perpetual state of angst, fury or joy. Korea Times photo by Park Han-sol The climax of the all-engrossing, synesthetic show unfolds with Lee’s tour de force “Gunsang” (People) series. Swarms of inky, faceless humans fill the entire room, their arms stretched toward the sky, torsos arched, leaping and running in a chaotic dance of movement. Created in response to the 1980 pro-democracy Gwangju Uprising — a tragic chapter of Korea’s modern history that deeply affected the painter, who himself endured political persecution during an era of ideological polarization — his figures seem locked in a perpetual state of angst, fury or joy. “My paintings changed drastically at one point,” he once remarked. “People started pouring into my art. From then on, I dedicated the last decade of my life solely to painting people.” Overall, “A Great Artistic Journey, Seoul-Paris” can be a striking and intuitive overture to a deeper dive into Lee’s oeuvre — an overture, not an epilogue. For those whose curiosity has been piqued, the next recommended destination is the Lee Ungno Museum in Daejeon.

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Whole Of Govt Approach Should Be Adopted To Achieve Socio-Economic Goals: LG Pays tribute to Vajpayee, Malaviya JAMMU: Lieutenant Governor Manoj Sinha today paid tribute to former Prime Minister Shri Atal Bihari Vajpayee and Mahamana Pandit Madan Mohan Malaviya on the occasion of their birth anniversary. Addressing a commemorative event at Pt. Madan Mohan Malaviya Inter College in Ghazipur, the Lieutenant Governor said, Mahamana Pandit Madan Mohan Malaviya and Shri Atal Bihari Vajpayee represent the conscience of Bharat. He said the vision of the two giant leaders paved the way for socio-economic transformation of the nation. “Mahamana’s relentless pursuit to public welfare and nation building had shaped the idea of self-reliant, modern and united India. The vision of Mahamana had opened up new frontiers in education, technology and industrial development of the country,” the Lieutenant Governor said. Paying homage to Shri Atal Bihari Vajpayee, the Lieutenant Governor spoke on the lifelong campaigns of the former Prime Minister dedicated to nation building and public welfare. “Nation should be supreme for an individual. To ensure this Atal Ji gave us the principles of ‘Indianization’ and ‘Nation-First’. Every section of society should work together to make the country self-reliant with undivided loyalty,” he said. The Lieutenant Governor called upon the people, especially the youth to rededicate themselves to the ideals of Mahamana and Shri Atal Bihari Vajpayee and strive to build a progressive society and work unitedly to realise the vision of Viksit Bharat. “We do not have to live in the past but we must take inspiration from history to build a brighter future,” he said. He highlighted that the Youth have a very important role to play in taking public services to the grassroots levels. To achieve this, we need to start shaping a new framework for Jan-Bhagidari and use new technologies for transparency and accountability at all levels, he added. “Unity is our greatest strength. Young generation must unite the society with determination. I want to see every hand working like a skilled sculptor to create a beautiful, victorious and prosperous India. I want to see a sense of responsibility, steadfastness towards duties and steely determination in every youth towards nation-building,” the Lieutenant Governor said. The Lieutenant Governor emphasised that our cultural ideals and values should be paramount for the new political and economic system. “Today is the opportunity for us to build a brighter tomorrow for the country and to ensure that societal attitude is changed towards responsibilities. Whole of Government Approach should be adopted to achieve socio-economic goals,” the Lieutenant Governor observed.