Nvidia’s second quarter revenue exceeded expectations, providing record support to the artificial intelligence industry

‘Nvidia’‘s earnings report did not disappoint expectations; CFO Colette Kress announced that second-quarter revenues were $30 billion, two billion dollars higher than previous estimates. In its second-quarter earnings announcement on August 28, Nvidia marked a “Turning Day” of great importance for the artificial intelligence industry.

This figure exceeded estimates by nearly seven percent. Nvidia continued its record-breaking quarterly performance and received many positive reactions on social media. Another factor that made investors even more hopeful was the expectation of record revenue of $32.4 billion in the third quarter. CFO Kress stated that the company’s next earnings announcement will be made on November 20.

Kress attributed this growth to GPU sales, excitement for the company’s upcoming Blackwell chips, and success in data services both domestically and internationally, with particularly positive performance in the Chinese market. Speaking about the upcoming “Blackwell” platform, Kress said that the new hardware and software package will hit the market with strong demand. “Blackwell production is scheduled to begin in the fourth quarter and continue through 2026.” He stated that they expect revenues to increase.

“Demand far exceeds supply and we anticipate this situation will continue next year.” he said. Although Nvidia announced a profit above expectations, there was a 6% decline in the company’s shares due to the news about the production disruption in Blackwell chips.

Spot Ethereum ETFs nine-day outflow streak ends with net inflow of $5.8 million

Yesterday, spot Ethereum ETFs in the US recorded net inflows of $5.84 million, ending a nine-day streak of outflows. Grayscale Ethereum Trust (ETHE) had a net outflow of $3.81 million, while BlackRock’s spot ether fund had an inflow of $8.4 million and Fidelity’s FETH fund $1.26 million. This data was announced by SoSoValue. Nine spot ether ETFs traded $151.57 million in trading volume yesterday.

That figure was well below the $900 million in volumes seen when they began trading in late July. The funds experienced a total net outflow of $475.48 million. On the same day, spot Bitcoin ETFs in the US reported net outflows of $105.19 million. Ark and 21Shares’ ARKB fund led the way with outflows of $59.27 million.

Fidelity’s FBTC recorded an outflow of $10.37 million and VanEck’s fund recorded an outflow of $10.07 million. Bitwise’s BITB, Grayscale’s mini Bitcoin trust, and Grayscale’s GBTC also reported net outflows of approximately $8 million. BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, and five other Bitcoin ETFs did not record any inflows or outflows for the day. Yesterday, spot Bitcoin ETFs in the US had a trading volume of $2.18 billion. They have had a total net inflow of $17.85 billion since January.

Hong Kong’s Project Ensemble explores tokenization in banking with new CBDC sandbox

Hong Kong has launched a sandbox (experimental testbed) for a wholesale central bank digital currency (CBDC) project called Project Ensemble to test tokenization in the traditional financial sector. Wholesale CBDCs are designed to be used in large-scale payments and interbank settlements between financial institutions.

The Hong Kong Monetary Authority (HKMA) announced four main focus areas of the sandbox: fixed income and investment funds, liquidity management, green and sustainable finance, trade and supply chain finance. Major participants in this test environment include Bank of China, HSBC, Standard Chartered Bank, Ant Digital and Microsoft. Asset management companies also plan to participate in the project.

HKMA launched Project Ensemble in March as part of the second phase of the e-HKD pilot. HKMA CEO Eddie Yue stated that testing sandbox tokenization use cases is an important step in exploring the application of tokenization in real business scenarios in the industry. While Ant Digital Technologies aims to improve financing efficiency, Longshine Technology has secured cross-border financing in Hong Kong by digitizing charging stations through Ant Digital. HashKey Group plans to test the tokenization of carbon credits and green assets.