Jensen Huang at GTC Berlin on why power constraints at one AI data center don't necessarily delay $NVDA's GPU shipments: “Meanwhile, we'll ship the computers to somebody who can use it.” “We're [Nvidia] the only computing platform that is standard for every AI model.”

INFOSYS $INFY Q2’27 EARNINGS HIGHLIGHTS 🔹 Revenue: $5.15B (Est. $5.19B) 🔴; +1.3% YoY 🔹 Diluted EPS: $0.20 (Est. $0.21) 🔴 🔹 Operating Margin: 21.0% 🔹 CC Revenue Growth: +1.5% YoY; +1.2% QoQ FY27 Guide: 🔹 Revenue Growth: 1%-2%; constant currency 🔹 Operating Margin: 20%-22% Other Q2 Metrics: 🔹 Large Deal TCV: $5.2B; 62% net new 🔹 FCF: $928M; 113.3% of net profit 🔹 AI Share of Revenue: 10.5% 🔹 EPS Growth (Rupee Terms): +8.7% YoY Key Updates: 🔹 Interim Dividend: ₹26 per share Comments: 🔸 “Our AI revenue was at 10.5% and grew 29% quarter-on-quarter.”

AMERICAN EXPRESS $AXP Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $20.1B (Est. $20.12B) 🟡; +9% YoY 🔹 GAAP EPS: $5.42; +31% YoY 🔹 Adj. EPS: $4.68 (Est. $4.48) 🟢; +13% YoY 🔹 Pretax Income: $4.53B; +18% YoY 🔹 Net Income: $3.7B; +28% YoY FY26 Guide: 🔹 Adj. EPS: $17.60-$17.90 (Est. $17.63) 🟡 🔹 EPS: $18.30-$18.60 🔹 Revenue Growth: 10% Other Q3 Metrics: 🔹 Billed Business: $454.0B; +8% YoY 🔹 Credit Loss Provisions: $1.0B; vs $1.3B LY 🔹 Net Write-off Rate: 1.8%; vs 1.9% LY 🔹 Expenses: $14.5B; +9% YoY 🔹 Effective Tax Rate: 18.1%; vs 24.1% LY Key Updates: 🔹 GBTG Gain on Sale (pretax): $982M; $751M after tax 🔹 Adjusted EPS excludes the GBTG gain, net of the portion used to fund restructuring Comments: 🔸 “We had another strong quarter, delivering 9 percent revenue growth and EPS of $5.42, or $4.68 adjusted, up 13 percent year-over-year.”

ROGERS COMMUNICATIONS $RCI Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: C$5.44B (Est. C$5.38B) 🟢; +2% YoY 🔹 Adj. EPS: C$1.29 (Est. C$1.22) 🟢; -6% YoY 🔹 Adj. EBITDA: C$2.54B (Est. C$2.53B) 🟢; +1% YoY 🔹 Free Cash Flow: C$1.37B; +65% YoY 🔹 CapEx: C$524M; -46% YoY Affirms FY26 Guide: 🔹 Service Revenue Growth: 2026 outlook 🔹 Adj. EBITDA Growth: 2026 outlook 🔹 CapEx: 2026 outlook 🔹 FCF: 2026 outlook Segment Revenue: 🔹 Wireless: C$2.69B; +1% YoY 🔹 Cable: C$1.99B; flat YoY 🔹 Media: C$821M; +9% YoY Segment Adj. EBITDA: 🔹 Wireless: C$1.38B; +1% YoY 🔹 Cable: C$1.16B; +1% YoY 🔹 Media: C$84M; +12% YoY Announcements: 🔹 MLSE: Minority interest acquisition completed on October 1 🔹 Rogers Sports: Pursuing sale of a minority interest by the first half of 2027 Other Q3 Metrics: 🔹 Service Revenue: C$4.78B; +1% YoY 🔹 Adj. EBITDA Margin: 46.6% 🔹 GAAP EPS: C$0.88 🔹 Capital Intensity: 9.6% 🔹 Postpaid Phone Net Adds: 6 🔹 Postpaid Phone Churn: 1.03% 🔹 Mobile Phone ARPU: C$55.22 🔹 Retail Internet Net Adds: 10 Key Updates: 🔹 Net income attributable to RCI shareholders: C$482M 🔹 Restructuring, acquisition and other: C$104M 🔹 Change in fair value of subsidiary equity derivative instruments: C$38M 🔹 Depreciation and amortization on fair value increment of Shaw Transaction-related assets: C$173M 🔹 Gain on disposition of assets: -C$67M 🔹 Revaluation of subsidiary US dollar-denominated balances: C$19M 🔹 Income tax impact of above items: -C$45M 🔹 Adjusted net income attributable to RCI shareholders: C$704M 🔹 Completed MLSE minority interest acquisition for C$4.35B in cash 🔹 Returned C$270M in dividends; declared a C$0.50/share dividend Comments: 🔸 “Our third quarter results demonstrate strong financial discipline, with margin expansion in Cable and Wireless, record free cash flow, and further deleveraging despite lower market activity”

$SLB Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $9.45B (Est. $9.3B) 🟢; +2% pro forma 🔹 Adj. EPS: $0.64 (Est. $0.62) 🟢; -7% YoY 🔹 Adj. EBITDA: $2.07B (Est. $2.03B) 🟢 FY26 Guide: 🔹 Capital Investment: ~$2.5B Cash Flow: 🔹 Operating Cash Flow: $1.51B 🔹 Free Cash Flow: $828M Segment Revenue: 🔹 Production Systems: $4.0B; +6% pro forma 🔹 Well Construction: $2.89B; -3% YoY 🔹 Reservoir Performance: $1.63B; -3% YoY 🔹 Digital: $693M; +5% YoY 🔹 All Other: $544M; +37% YoY Revenue by Geography: 🔹 International: $6.99B; flat pro forma 🔹 North America: $2.40B; +13% pro forma Announcements: 🔹 Signed agreement to acquire Kelvion for ~$3.4B in cash and assume ~$0.7B of debt; expected to close in 1H27 Other Q3 Metrics: 🔹 Adj. EBITDA Margin: 21.9%; -121 bps YoY 🔹 Pretax Segment Op. Margin: 16.7%; -153 bps YoY 🔹 GAAP EPS: $0.49; -2% YoY 🔹 Net Income: $735M; -1% YoY 🔹 Digital Division ARR: $1.04B; +13% YoY 🔹 Data Center Solutions Revenue: $230M; +76% YoY Key Updates: 🔹 Reported revenue +6% YoY; Q3'25 included two months of ChampionX ($579M revenue); pro forma rates assume ChampionX from January 1, 2025 🔹 Charges & credits: $242M pre-tax 🔹 Pension settlement charge: $187M 🔹 Merger and integration: $55M Capital Return: 🔹 Share Repurchases: $656M (12.9M shares) Comments: 🔸 “SLB delivered solid third-quarter results with all regions growing sequentially — led by a gradual recovery in the Middle East, growth in North America land and broadening international activity in deepwater offshore basins.”

FIRST CITIZENS BANCSHARES $FCNCA Q3’26 EARNINGS HIGHLIGHTS 🔹 Adj. EPS: $55.37 (Est. $46.02) 🟢 🔹 GAAP EPS: $51.23 🔹 Net Interest Income: $1.70B 🔹 Noninterest Income: $734M Other Q3 Metrics: 🔹 Net Interest Margin: 3.07% 🔹 Loans & Leases: $157.19B 🔹 Deposits: $185.26B 🔹 Net Income: $606M 🔹 Provision for Credit Losses: $55M 🔹 Net Charge-offs: 0.27% 🔹 CET1 Ratio: 10.24% Capital Return: 🔹 Share Repurchases: $600M 🔹 Dividend: $2.10/share Key Updates: 🔸 BMO Branch Acquisition: 138 branches, ~$4.9B deposits, ~$650M loans 🔸 Purchase Money Note Prepayment: $8.0B 🔸 Reserve release: $48M 🔸 New Share Repurchase Plan: Up to $1.2B through 2027 Comments: 🔸 “Third quarter performance exceeded our expectations, fueled by strong, high quality top-line growth, accelerated loan and deposit growth, highly resilient credit quality, and expense discipline.”

$NVDA CEO Jensen Huang says “software licensing will become increasingly a major part of our company’s business.” He said it could cost “about $2,000 per GPU per year” to run NVIDIA’s software for AI agents in these AI factories. So, some napkin math at that price, before discounts: 500K licensed GPUs = $1B in annual revenue. 1 million licensed GPUs = $2B 5 million licensed GPUs = $10B So, hypothetically, NVIDIA could earn billions a year from GPUs it has already sold by selling enterprise software and support to the companies using them. Note: These are illustrative revenue scenarios using Jensen’s pricing example, not NVIDIA guidance or profit estimates.

SK HYNIX SCRAPS SOLIDIGM U.S. IPO AMID CAPITAL MARKET VOLATILITY & DUPLICATE-LISTING CONCERNS The company also halted a planned pre-IPO funding round, per Bloomberg. South Korean regulators had raised concerns that separately listing its flash-memory subsidiary could undermine existing shareholder value. The proposal also faced strong shareholder opposition. Goldman Sachs and Morgan Stanley had reportedly been selected to lead the potential offering. SK hynix says Solidigm will explore alternative financing options to expand production capacity.

OPENAI NEARS $30 BILLION FUNDING ROUND AT $1.25 TRILLION VALUATION: CNBC UAE investors and Coatue are leading the financing, which is being positioned as a bridge ahead of a potential IPO in 2027. OpenAI is targeting investor signatures by the end of next week, although the final amount has not been determined. The company is also negotiating a separate agreement to secure additional AI computing capacity from the UAE. Source: CNBC