Luckily, the market is finding other things to buy/Interesting earnings comments

Another great quarter from Nvidia and a raise in guidance but rather pedestrian for both relative to expectations and another Mag 7 stock losing its juice. Not an indictment of the company, just on the stock with its robust but slowing growth. Luckily, the market has found other stocks to buy.

From Nvidia:

"Post training and model customization are fueling demand for Nvidia infrastructure and software as developers and enterprises leverage techniques such as fine-tuning, reinforcement learning, and distillation to tailor models for domain specific use cases...The scale of post training and model customization is massive and can collectively demand orders of magnitude more compute than pre-training. Our inference demand is accelerating, driven by test time scaling and new reasoning models like Open AI's o3, DeepSeek-R1, and Grok 3."

"From a geographic perspective, sequential growth in our data center revenue was strongest in the US, driven by the initial ramp of Blackwell. Countries across the globe are building their AI ecosystems and demand for compute infrastructure is surging." And, "With respect to geographies, the takeaway is that AI is software, it's modern software, it's incredible modern software, but it's modern software."

I'll add, and why from an AI provider standpoint, the competition will only get more intense, the products will only get more commoditized and the users, like you and me, will end up being the biggest beneficiaries.

Salesforce focused on its agentic product in its call but whose stock is down pre market:

"I really think that we have something incredible to talk about. And, obviously, this was the quarter of Agentforce."

"Agentforce is revolutionizing how our customers work by bringing AI powered insights and actions, directly into the workflow across the customer 360 applications. This is driving strong growth across our portfolio."

Here is the but, "However, the adoption cycle is still early as we focus on deployment with our customers. As a result, we are assuming a modest contribution to revenue in fiscal '26. We expect the momentum to build throughout the year driving a more meaningful contribution in fiscal '27."

Overall revenues grew 9% y/o/y. "From an industry perspective, in Q4, health and life sciences, communications and media both performed well. While tech and manufacturing, automotive and energy were more measured."

They are being negatively impacted, like others, by the stronger dollar. "And even since our last earnings call that movement has driven an incremental $200 million headwind to fiscal '26 revenue."

Away from tech and on to the consumer.