Nvidia addresses concerns of an AI bubble during Q3 earnings call, CEO and CFO defend company’s position. Nvidia beats Wall Street expectations, projects strong fourth-quarter revenue. Company has visibility toward $500 billion in AI chip revenue through 2026. Stock rises before market downturn. CFO Colette Kress disputes AI bubble claims, touts longevity and versatility of CUDA GPUs. Nvidia’s deals with Microsoft, Anthropic, and others raise concerns about artificial demand for GPUs, fears of AI bubble persist. Nvidia and AMD optimistic about future of GPU market, total addressable market for data centers could top $1 trillion by 2030. Nvidia’s statements may quell AI market fears temporarily, but challenges may resurface. 1. The US economy added 559,000 jobs in May, exceeding expectations. Unemployment rate decreased to 5.8%, down from 6.1% in April. Job growth was seen in leisure and hospitality, education, and healthcare sectors.

2. CDC reports over 50% of US adults are fully vaccinated against COVID-19. Vaccination rates are slowing down, prompting health officials to encourage more Americans to get vaccinated to achieve herd immunity.

3. Colonial Pipeline resumes operations after cyberattack caused shutdown. Gas shortages reported in several states as panic buying ensued. President Biden signs executive order to strengthen cybersecurity measures for critical infrastructure.

4. Supreme Court rules in favor of student athlete compensation. NCAA loses antitrust case, allowing student athletes to receive education-related benefits. Decision could have far-reaching implications for college sports and amateurism rules.

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