| Nvidia (NVDA) continues its march to dominance. | The stock was up another 4% after it closed at an all-time high at $487.84. | The stock is now up more than 240% YTD. | The company is clearly the most important one in the AI Revolution. | Now, it's formed an AI agreement with Google… which is almost dystopian in its potential for control over the marketplace. | "Our expanded collaboration with Google Cloud will help developers accelerate their work with infrastructure, software and services that supercharge energy efficiency and reduce costs," said CEO Jensen Huang. | (Well, that and conquer the world, like some "Pinky and the Brain" level stuff.) | The key is Graphic Processing Units, GPUs, which NVDA actually invented. | They are critical to AI (and just about everything else) because once you take processing to a certain level, it essentially all focuses on graphics. | There's a lesson here… every economy has certain choke points. They can be raw materials that are essential to something, or a technology that only a few companies control, or even just a way of doing something. | NVDA now has a dominant position in one of those choke points. | AI faces big problems and NVDA is not invincible. Trade restrictions on China could pose a major problem for the company's growth. | But 300% YTD in 2023 is no longer out of the question. | When you talk about the companies of the future, like Apple and Microsoft, don't forget Nvidia. | Get What's Yours, | Jeff Bishop | | WORD ON THE STREET | New Coup Just Dropped - It's coup season in Africa - first Niger, now Gabon. Military officers have seized power after denying the legitimacy of a recent election. Incumbent president Ali Bongo claimed a third term with over 64% of the vote, but some international observers said there were problems. It would be the eighth coup in west and central Africa since 2020.
| First One Bites The Dust - Miami Mayor Francis Suarez has cut short his challenge for the GOP nomination. "Running for President of the United States has been one of the greatest honors of my life," he said, though he noted that the failure to make the debate was an insurmountable obstacle. The pro-Bitcoin mayor failed to gain ground despite some initial donor enthusiasm.
| Another SEC Defeat? - The SEC has to be getting annoyed now. The regulator suffered a court defeat against Grayscale, meaning that the agency will now have to examine an application to turn a bitcoin trust into an ETF. "The denial of Grayscale's proposal was arbitrary and capricious because the Commission failed to explain its different treatment of similar products," said Judge Neomi Rao.
LEGO Conquers All - The overall toy market is declining but that isn't stopping LEGO from building a bigger market share. Consumer sales were up by 3% in the first six months of the year even as toy sales overall were down by 7%. I for one blame adults who keep buying LEGO toys meant for kids. (All right, I admit it, I do that too.)
| | HOT SPOTS: What's Going on in Geopolitics | Hurricane Idalia About To Storm Into Florida- The Category 2 hurricane (as of this writing) has forced an evacuation in key Florida costal communities as it builds in power. Authorities warn a "catastrophic storm surge and destructive wins" are on the way. Florida Governor Ron DeSantis has assembled thousands to begin repairing power as soon as possible, telling residents "you really gotta go now, now is the time," but telling them not to forget their pets.
| Ukraine Takes Out Military Transport Aircraft In Drone Attack - Ukraine launched its largest drone attack in months, causing explosions at the airport in Pskov. Moscow claimed that drones were shot down over other regions in Russia. Russia struck back with its own missile and drone attack against Kyiv.
USA Scores Naval Agreement With Palau - The U.S. Coast Guard has won the right to unilaterally enforce maritime regulations in the Pacific nation of Palau. It doesn't sound like much, but it is a key American concession as the USA tries to contain China in the Pacific. Palau is a small nation but one of the few that recognizes Taiwan - which doesn't make China very happy.
| | CUTTING EDGE: What's Happening In Tech | Next iPhone Drops On September 15 - Get hype (and get money). The iPhone 15 will be unveiled on 9/15/23, along with the Apple Watch Series 9. The event featured the word "Wonderlust," so we'll have to see if this is a revolutionary new step for Apple… or just more marketing nonsense.
Digital Watermark To Detect AI Images - All right, we've all wondered this. If AI gets really good at making images (meaning no more six fingers on hands), couldn't people just fake images about news events? What does that mean for journalism? Google is trying out a "digital watermark" that can supposedly tell the difference. If it works, it will be a big deal in fighting misinformation - if it doesn't, well, we can take comfort in knowing that truth is stranger than fiction anyway these days.
| Seattle Still Tech Mecca - The decline of Seattle has been exaggerated. A new study from CBRE finds that the city is the number one destination for recent tech graduates, attracting 15.2%. Austin was in second - and despite stories about its decline, San Francisco is in third.
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