(AI) chip off the old block… Nvidia shares neared a record high last week ahead of the chipmaker’s earnings Wednesday, and have more than 2X’d this year. In Nvidia’s last report, sales were down 21% on the year as gaming demand slowed and it shipped fewer chips for consoles like Nintendo's Switch. But sales for its AI-centered GPUs are taking off as biggies like Microsoft, Alphabet, and Meta pour $$ into the emerging tech. Despite the future-focused bot buzz, analysts expect Nvidia to report more earnings declines as broader chip demand sags.
Prepare for memorial delays… This Memorial Day weekend is gearing up to be one of the busiest ever for travel. AAA predicts 42M+ Americans will go out of town instead of BBQ’ing in the backyard, up 7% from last year. Beyond traffic jams, air travel is expected to surpass prepandemic levels, with more folks extending trips beyond the long weekend (s/o #WFH). It’s a boost for airlines, but could also be a delay nightmare: carriers are struggling to meet demand with staff shortages and jet-delivery delays (better pack your Kindle).