Welcome to The Sixth Bureau podcast by Bloomberg and iHeart Media. A transcript of the sixth episode is below. Listen and subscribe to the podcast on Apple , Spotify , iHeart or wherever you get your podcasts, and learn more about the project here . Nothing Is Holy Our transcripts are generated by a combination of software and human editors, and may contain slight differences between the text and ...
Welcome to The Sixth Bureau podcast by Bloomberg and iHeart Media. A transcript of the sixth episode is below. Listen and subscribe to the podcast on Apple , Spotify , iHeart or wherever you get your podcasts, and learn more about the project here . Nothing Is Holy Our transcripts are generated by a combination of software and human editors, and may contain slight differences between the text and audio. Jordan Robertson: Hey everybody, this is the last episode of our show. If you haven’t listened to the first five, you probably wanna go back and start from the beginning. If you are up to speed, thank you so much for listening! We really hope you’re enjoying it. We’ve had such a blast working on this series. Drake Bennett: That’s actually true. And if you like the show, tell your friends about it! Share it. That’s how the show will continue to grow. And of course, rating and reviewing it helps too. So again, thanks. Here’s the final act. Producer: One sec… (Beep) Producer: Let me just last, Xu Yanjun…it might actually be this one. 139… Producer: Yeah, 2-3, yeah this one. Reporter: That’s Xu Yanjun? Producer: Xu Yanjun. (Phone rings 2x) Bennett: Definitely have butterflies a little bit. (Phone rings once) Phone (in Mandarin): This is an empty number… Reporter: “This is an empty number.” Invalid. Bennett: Jordan and I are in Bloomberg’s New York headquarters. It’s late, late enough that it’s mid-morning in Nanjing. We’re here because we’re trying to call Xu Yanjun. And we’re with our producer and a Mandarin speaking colleague to help us with translation. Bloomberg Reporter: The third one is, is invalid. Bennett: We have a bunch of phone numbers we found in the court documents, for Xu and all his aliases, as well as a bunch of his associates. Producer: ….8-8-2-3-1-6-… Bennett: We’ve been going down the list making these calls, and getting nowhere, for over an hour. Robertson: And then, something funny happens with one of the Xu numbers. Instead of getting a recording th...
Mr Justice Hilliard told the jury "all the psychiatrists agreed that so strong was the grip of his mental illness that he simply did not think that he was doing anything wrong. In fact, he believed that he was doing the right thing, that he had to make the disclosure, and that he was justified in what he was doing".
Mr Justice Hilliard told the jury "all the psychiatrists agreed that so strong was the grip of his mental illness that he simply did not think that he was doing anything wrong. In fact, he believed that he was doing the right thing, that he had to make the disclosure, and that he was justified in what he was doing".
MoMo Productions/DigitalVision via Getty Images To be honest with you, the last few months have been a very trying time for shareholders of The Bancorp ( TBBK ). This fintech-oriented bank has rarely seen its share price hit, with the stock trading down 22% since I called it a "Hold" in December 2025 . Over that same period, the S&P 500 is down just 0.4%. Back then, I believed that the stock was t...
MoMo Productions/DigitalVision via Getty Images To be honest with you, the last few months have been a very trying time for shareholders of The Bancorp ( TBBK ). This fintech-oriented bank has rarely seen its share price hit, with the stock trading down 22% since I called it a "Hold" in December 2025 . Over that same period, the S&P 500 is down just 0.4%. Back then, I believed that the stock was too expensive for my liking. But now, it's actually priced at slightly more reasonable levels. Because of certain concerns that I have regarding its business model, specifically regarding certain fintech-oriented losses and declining net interest margin, I am not ready to upgrade it just yet. But it is now becoming more difficult to shy away from when it comes to thinking about a potential upgrade. Taking another look at The Bancorp Most of the banks that I analyze are rather boring financial institutions. They have branches that offer loans, deposit products, and more. However, The Bancorp is different from that. Management specifically describes the enterprise as a leading fintech bank. It operates by partnering up with financial technology firms to offer payment and lending solutions. Through these partners, it provides payment, deposit, and sponsored lending products. Some of these examples include the issuance of debit, credit, and prepaid cards. It also offers payment services, such as real-time end-to-end payment processing activities. Its sponsored lending products, also known as fintech loans, involve short-term loans originated by the institution with proceeds involving secured credit cards and unsecured short-term extensions of credit. This is not all that the company does. It provides certain credit solutions, such as real estate bridge lending activities, institutional banking services such as those involving wealth management clients, small business lending, and even direct lease financing that focuses primarily on vehicle fleet leasing to commercial and govern...
The IPO drought could end with some of the historic AI IPO whales that make a big enough splash such that the S&P 500 experiences a big change. Undoubtedly, the cap-weighted index could look vastly different in three years from now after the slew of IPOs (many of which could sport valuations at or north ... The AI IPO I’m Most Excited About (And No, It’s Not OpenAI, Anthropic or xAI)
The IPO drought could end with some of the historic AI IPO whales that make a big enough splash such that the S&P 500 experiences a big change. Undoubtedly, the cap-weighted index could look vastly different in three years from now after the slew of IPOs (many of which could sport valuations at or north ... The AI IPO I’m Most Excited About (And No, It’s Not OpenAI, Anthropic or xAI)
York Space Systems (YSS +24.83%), which held its IPO in January, is getting an enthusiastic welcome to the stock market today as investors bid the shares up 24% through 11:11 a.m. ET. With York not yet profitable, estimates for the 2025 earnings report last night focused on revenue. Analysts forecast the company would collect $383.8 million through the end of the year. York did $386.2 million. Yor...
York Space Systems (YSS +24.83%), which held its IPO in January, is getting an enthusiastic welcome to the stock market today as investors bid the shares up 24% through 11:11 a.m. ET. With York not yet profitable, estimates for the 2025 earnings report last night focused on revenue. Analysts forecast the company would collect $383.8 million through the end of the year. York did $386.2 million. York Space 2025 earnings York's sales surged 52% year over year in 2025, and gross profit more than doubled to $75.5 million. York wasn't profitable on the bottom line, losing $84.5 million, but this was 15% less than it lost in 2024. From a business perspective, York is positioning itself as a "modern mission prime" contractor -- a tier-1 satellite company that wins contracts from NASA and the Space Force, then subcontracts out some of the work, keeping the bulk of the profits. In this, York's marquee project is the Space Force Proliferated Warfighter Space Architecture missile defense program (also called Golden Dome), for which York delivered 21 Tranche 1 Transport Layer satellites (for data relay) in 2025. This is both a plus and a minus for York. A plus, because so long as President Trump remains dedicated to making Golden Dome a reality, York should continue raking in contracts. A minus, because if the program suffers delays and cost overruns, Congress may cancel the project. Expand NYSE : YSS York Space Systems Today's Change ( 24.83 %) $ 4.39 Current Price $ 22.07 Key Data Points Market Cap $2.2B Day's Range $ 18.27 - $ 22.94 52wk Range $ 16.93 - $ 38.47 Volume 2.8M Avg Vol 1.8M What's next for York Space? Near term, York's targeting about $570 million in 2026 revenue (so 48% growth), with higher margins and "positive adjusted EBITDA." No promises of profits, but analysts who follow the company say York could turn profitable in 2027, and earn $0.57 per share -- a 38x forward P/E ratio. Not bad for a stock growing at 48%.
I've long maintained that exchange-traded funds (ETFs) offer investors one of the best ways to make money over the long term. They can provide diversification, allowing you to own a large number of stocks in one basket. They come in all varieties -- whatever your investing style is, you can find an ETF that meets your needs. Income investors have lots of great alternatives. You might even argue th...
I've long maintained that exchange-traded funds (ETFs) offer investors one of the best ways to make money over the long term. They can provide diversification, allowing you to own a large number of stocks in one basket. They come in all varieties -- whatever your investing style is, you can find an ETF that meets your needs. Income investors have lots of great alternatives. You might even argue there are too many choices. I think one ETF, though, especially stands out. Here's my pick for the smartest dividend ETF to buy with $1,000 right now. "High dividend" is in its name I like it when the name of an ETF tells you pretty much what you need to know about it. That's the case with the SPDR Portfolio S&P 500 High Dividend ETF (NYSEMKT: SPYD). This fund has "high dividend" in its name, and that's what it offers. The ETF is managed by State Street, one of the top financial services companies in the U.S. Its 30-day SEC yield (an annualized yield based on income generated by the fund over the last 30 days) is 4.41%. The S&P 500 High Dividend ETF can provide such a high dividend yield because of its investment approach. The fund tries to track the performance of the S&P 500 High Dividend Index, which consists of the 80 stocks in the S&P 500 with the highest yields. Some ETFs with juicy dividend yields don't have great track records of high yields. This fund, though, consistently delivers strong income. Its current yield is even lower than its average over the last five years. Looking beyond the dividend However, the dividend isn't everything. Investors should also consider other advantages that the SPDR Portfolio S&P 500 High Dividend ETF offers. Near the top of the list, in my view, is its low costs. The ETF's annual expense ratio is only 0.07%. You won't have to worry about fees eating up much of your total returns with this State Street fund. Stability isn't a problem, either. The ETF's assets under management total nearly $6.3 billion. It's a big fund managed by a soli...
NVIDIA (NVDA) says DLSS 5 takes a 2D frame plus motion vectors as input NVIDIA has provided the latest clarification on how DLSS 5 works. NVIDIA’s DLSS 5 reveal was met with strong backlash after audiences criticized the way it altered in-game visuals, specifically pertaining to character designs. In a new follow up, a NVIDIA spokesperson has confirmed that DLSS 5 works by taking 2D frames and usi...
NVIDIA (NVDA) says DLSS 5 takes a 2D frame plus motion vectors as input NVIDIA has provided the latest clarification on how DLSS 5 works. NVIDIA’s DLSS 5 reveal was met with strong backlash after audiences criticized the way it altered in-game visuals, specifically pertaining to character designs. In a new follow up, a NVIDIA spokesperson has confirmed that DLSS 5 works by taking 2D frames and using motion vectors as inputs. YouTuber Daniel Owen revealed in a new video that an NVIDIA spokesperson responded to his email inquiry about DLSS 5’s internal process. “Yes, DLSS 5 takes a 2D frame plus motion vectors as input,” wrote NVIDIA’s Jacob Freeman. Owen went on to say that this clarification seemingly confirms some of the worst fears about the software. “The accusation that DLSS 5 is essentially doing is taking a screenshot of the game and running it through generative AI to enhance it—yeah that’s what it’s doing. I don’t think I’m misinterpreting that,” he said. In the much talked-about DLSS 5 demo video, we see the software alter the appearance of characters in Resident Evil Requiem, Starfield, and Hogwarts Legacy. In the case of Resident Evil’s Grace Ashcroft, DLSS 5 showed her with darker hair roots and makeup on her face. Other characters can be seen with additional hair or facial features not present in the original game. Following the backlash to DLSS 5, NVIDIA CEO Jensen Huang said that the detractors were “completely wrong” about how the technology works. However, the latest clarification has led to even more questions about how DLSS 5 actually interacts with the games it’s applied to. Bookmark our NVIDIA tag for future updates on the matter. Shacknews staff does not use generative artificial intelligence (AI) in their content. Shacknews strictly prohibits the use of its content for AI training or to generate text, including text in the style or format used for this publication. Shacknews reserves all rights to this work.
Shares of Nebius Group (NASDAQ:NBIS) have been wildly volatile since the start of October, and while the technicals paint a horrifying picture, especially if you see a double-top pattern potentially in the works, I’d argue that the AI up-and-comers breakout moment may still be buying into the recent wave of weakness. Either way, it’s been ... Nebius Is a High‑Risk Swing—But Could the Payoff Justif...
Shares of Nebius Group (NASDAQ:NBIS) have been wildly volatile since the start of October, and while the technicals paint a horrifying picture, especially if you see a double-top pattern potentially in the works, I’d argue that the AI up-and-comers breakout moment may still be buying into the recent wave of weakness. Either way, it’s been ... Nebius Is a High‑Risk Swing—But Could the Payoff Justify the Volatility?
As the world remains mired in geopolitical tensions, it seems like we were in a different era when uncertainties in the market meant skirmishes between President Trump and Tesla (TSLA) CEO Elon Musk on X. Every reaction and response to the same was watched by hawk-eyed market observers who had any interest in the EV giant's stock. But can Tesla be kept out of the news cycle for long? Not really, a...
As the world remains mired in geopolitical tensions, it seems like we were in a different era when uncertainties in the market meant skirmishes between President Trump and Tesla (TSLA) CEO Elon Musk on X. Every reaction and response to the same was watched by hawk-eyed market observers who had any interest in the EV giant's stock. But can Tesla be kept out of the news cycle for long? Not really, after the company's shares saw a sharp correction of more than 3% when it was revealed that the National Highway Traffic Safety Administration (NHTSA) had launched an investigation into its Full Self-Driving (FSD) (Supervised) system following several crashes. Tesla and NHTSA have been battling each other for a few years now, irrespective of the administration at the helm in Washington, with the first prominent case dating back to phantom braking in February 2022. Skeptics might say that the stock is up just 33% since then, yet Tesla's dismal share price performance cannot be entirely attributed to government institutions. Instead, intense competition from Chinese low-cost players like BYD (BYDDY) and Musk's political plunge are the primary culprits. Having said that, the market reacted negatively to the recent development, and the $1.47 trillion market cap company's stock is under scrutiny again. How should investors make a play at it? Let's find out. Financials Not a Cause for Worry (Yet) Tesla has posted impressive long-term results, with revenue and earnings compounding at annual rates of 24.63% and 34.93% over the past five years. That said, a return to those levels of growth now looks challenging, as the results for the most recent quarter demonstrate. In Q4 2025, the company beat both revenue and earnings estimates, but the broader picture was weaker. Total revenue fell 3% year-over-year (YoY) to $24.9 billion, with automotive revenue dropping 11% to $17.7 billion. Earnings per share declined 17% to $0.50, though it edged past the $0.45 consensus. EPS has now fallen o...
thitimon toyai/iStock via Getty Images Nomura strategist Charlie McElligott says markets are waking up to the possibility that Middle East conflict may not resolve quickly — and the implications for inflation, rates and growth are uncomfortable. "The 'Oh snap, this thing might not end by April?!' realization is beginning to sink in over the past week," McElligott wrote. (H/T Neil Sethi) He notes s...
thitimon toyai/iStock via Getty Images Nomura strategist Charlie McElligott says markets are waking up to the possibility that Middle East conflict may not resolve quickly — and the implications for inflation, rates and growth are uncomfortable. "The 'Oh snap, this thing might not end by April?!' realization is beginning to sink in over the past week," McElligott wrote. (H/T Neil Sethi) He notes strikes on Iranian gas facilities have kept global energy supply tight and prices elevated, and the threat of Iranian retaliation against refinery and gas assets in Qatar, Saudi Arabia and the UAE is adding a new layer of uncertainty that markets are only beginning to price in. Coming from a "world where previously we didn’t even have 'Higher Rates' as part of the implied distribution, the surge in 'tightening' likelihood at a precarious time for Growth feels icky," he added. Inflation and rates channel The critical transmission mechanism is energy into inflation and inflation into central bank policy. Higher and more volatile energy prices mean higher and more volatile inflation — and that reopens a door markets had recently closed: the possibility of interest rate increases rather than cuts. For central banks in energy-importing economies with a single inflation mandate — think the European Central Bank or the Bank of England, which are required to target inflation and nothing else — the calculus becomes particularly uncomfortable. Rising energy costs could force their hand toward tightening monetary policy even as economic growth weakens. McElligott flags this as "hike risk," the prospect of rate increases arriving at precisely the wrong moment for the global economy. For the Federal Reserve, the picture is slightly different but still problematic. The Fed had been expected to cut rates this year; persistent energy-driven inflation argues for fewer cuts, or none at all — a meaningful shift in the implied interest rate outlook. The slow-burning risk Beyond the immediate ra...
On February 17, 2026, Clearline Capital LP disclosed a significant buy of 2,410,410 shares of Primo Brands (NYSE:PRMB) , an estimated $44.55 million trade based on quarterly average pricing. According to a February 17, 2026, SEC filing , Clearline Capital LP bought 2,410,410 additional shares of Primo Brands during the fourth quarter. The estimated value of the trade was $44.55 million based on th...
On February 17, 2026, Clearline Capital LP disclosed a significant buy of 2,410,410 shares of Primo Brands (NYSE:PRMB) , an estimated $44.55 million trade based on quarterly average pricing. According to a February 17, 2026, SEC filing , Clearline Capital LP bought 2,410,410 additional shares of Primo Brands during the fourth quarter. The estimated value of the trade was $44.55 million based on the average closing price over the quarter. As a result, the fund’s position value increased by $38.93 million at quarter-end, reflecting both the purchase and changes in share price. Primo Brands delivers bottled water and filtration services across North America and Europe, serving both consumers and businesses. It operates at scale in the non-alcoholic beverage sector, focusing on water and related services with a diverse brand portfolio. The company leverages direct distribution and recurring service models to drive stable revenue streams. Its broad customer base and established market presence provide a competitive edge in the consumer defensive sector. Continue reading
robtek/iStock Editorial via Getty Images Introduction The last time I covered The Hershey Company ( HSY ), I highlighted how despite some improvements and solid fundamentals, the valuation remained fair, which is not enough to justify buying it from my point of view given the potential risks. Although the company remains in a solid financial position and could benefit from a potential macro recove...
robtek/iStock Editorial via Getty Images Introduction The last time I covered The Hershey Company ( HSY ), I highlighted how despite some improvements and solid fundamentals, the valuation remained fair, which is not enough to justify buying it from my point of view given the potential risks. Although the company remains in a solid financial position and could benefit from a potential macro recovery, the ongoing pressure and long-term fundamental threats shouldn’t be ignored, which is why HSY remains a Hold, as a better margin of safety is needed. Fundamentals Remain Solid The Hershey Company IR HSY reported a solid Q4 and 2025 overall, beating the market's top- and bottom-line estimates significantly and offering better guidance than expected, with the growth in pricing helping to more than offset the volume/mix. The free cash flow reached a solid $1.82 billion (slightly below the $1.93 billion seen in 2024), as the drop in CAPEX helped offset the macro pressure to some degree, while the year also came with the major acquisition of LesserEvil , growing their exposure to the high-growth better-for-you snack category. HSY also announced unifying its sweet, salty and protein portfolios into ONE , which they say would help bring more innovation, flavors, variety, etc., combining the execution of their commercial activity and centralizing their global brand marketing. The Hershey Company IR As for the guidance, the company expects a solid 4% to 5% growth in net sales (with about 150 b.p. coming from the LesserEvil acquisition), with the Adjusted EPS growing by 30% to 35% (mostly thanks to a mark-to-market loss unwinding, margin recovery and a normalization of tax effects), while CAPEX would reach between $425 million to $475 million, similar to last year's $454.62 million. The Hershey Company IR Financially, based on HSY's latest report , they remain in a solid position, with the current assets covering their current liabilities, and even though the debt is growing to f...
Key Points Diameter Capital acquired 850,000 shares of Caesars Entertainment in the fourth quarter. The quarter-end position value increased by $19.88 million as a result. Caesars position is outside the fund’s top five holdings. 10 stocks we like better than Caesars Entertainment › On February 17, 2026, Diameter Capital Partners LP disclosed a new position in Caesars Entertainment (NASDAQ:CZR), a...
Key Points Diameter Capital acquired 850,000 shares of Caesars Entertainment in the fourth quarter. The quarter-end position value increased by $19.88 million as a result. Caesars position is outside the fund’s top five holdings. 10 stocks we like better than Caesars Entertainment › On February 17, 2026, Diameter Capital Partners LP disclosed a new position in Caesars Entertainment (NASDAQ:CZR), acquiring 850,000 shares in an estimated $19.88 million trade based on quarterly average pricing. What happened According to an SEC filing dated February 17, 2026, Diameter Capital Partners LP established a new stake in Caesars Entertainment (NASDAQ:CZR), buying 850,000 shares. The estimated value of this trade is approximately $19.88 million, based on the average price of Caesars shares during the fourth quarter. The new position’s quarter-end value also totaled $19.88 million, reflecting both the purchase and any intervening price movement. What else to know Top holdings after the filing: NASDAQ: SATS: $409.57 million (45.8% of AUM) NYSE: MBC: $66.35 million (7.4% of AUM) NYSE: TDS: $43.76 million (4.9% of AUM) NYSE: SILA: $40.79 million (4.6% of AUM) NYSE: FSK: $33.65 million (3.8% of AUM) As of Friday, shares were priced at $27.17, down 4% over the past year, compared to a 16% gain for the S&P 500. Company overview Metric Value Revenue (TTM) $11.5 billion Net income (TTM) ($502 million) Market capitalization $5.5 billion Price (as of Friday) $27.17 Company snapshot Caesars Entertainment offers casino gaming, hotel accommodations, dining, entertainment venues, and online sports betting and iGaming services across a portfolio of domestic properties. The firm generates revenue primarily from gaming operations, complemented by hospitality, food and beverage, and digital gaming segments. It targets leisure travelers, gaming enthusiasts, and sports bettors in the United States, with a focus on both on-property and online customer experiences. Caesars Entertainment is a leading...
Robert Way/iStock Editorial via Getty Images Nvidia Corporation ( NVDA ) has roughly matched the market and flatlined since we recommended it as a Strong Sell. The scale of the company is such that surprised articles were written when the share price didn't move for a $1 trillion revenue forecast. Despite the $1 trillion forecast on March 17 , our view is that the forecast represents a "peak" and ...
Robert Way/iStock Editorial via Getty Images Nvidia Corporation ( NVDA ) has roughly matched the market and flatlined since we recommended it as a Strong Sell. The scale of the company is such that surprised articles were written when the share price didn't move for a $1 trillion revenue forecast. Despite the $1 trillion forecast on March 17 , our view is that the forecast represents a "peak" and the company remains overvalued. Nvidia Revenue Forecast Nvidia's forecast through 2027 is at least $1 trillion in revenue from Blackwell and Rubin. "I see through 2027 at least trillion," noting that AI infrastructure investment is accelerating rapidly. Now, this wasn't broken up quarter by quarter or anything like that. The company had $51.3 billion in compute revenue in the most recent quarter based on "sustained strength in Blackwell and Blackwell Ultra." The company has guided for +$10 billion in Q1 FY27 revenue, which we expect to primarily come from datacenter compute. We're going to assume this $1 trillion guidance is for calendar years 2026-2027. Nvidia doesn't reveal the breakdown, and its quarters are offset slightly, but its Q1 FY27 guidance implies $20 billion in monthly compute revenue. For the two-year period, that's $480 billion. Another way to look at it, is Nvidia's networking-to-compute ratio is 1:5, and together the two make 91% of the company's quarterly revenue. The other remaining $6 billion in revenue is relatively fixed and not growing the same (gaming, etc.). At the end of the day, let's presume this is compute revenue, with a linear increase that finishes the period at ~$40 billion/month. That implies a 2027 exit rate of $150 billion/quarter in revenue. Nvidia Investor Presentation Modeling the quarterly results from this is difficult. It's just under 2 years from the present day, implying ~50% YoY growth for the next 2 years. Margins have sat in the mid-70s for a while now, so we'll assume 75% gross margins. This could actually decrease with skyro...
Robert Way/iStock Editorial via Getty Images Nvidia Corporation ( NVDA ) has roughly matched the market and flatlined since we recommended it as a Strong Sell. The scale of the company is such that surprised articles were written when the share price didn't move for a $1 trillion revenue forecast. Despite the $1 trillion forecast on March 17 , our view is that the forecast represents a "peak" and ...
Robert Way/iStock Editorial via Getty Images Nvidia Corporation ( NVDA ) has roughly matched the market and flatlined since we recommended it as a Strong Sell. The scale of the company is such that surprised articles were written when the share price didn't move for a $1 trillion revenue forecast. Despite the $1 trillion forecast on March 17 , our view is that the forecast represents a "peak" and the company remains overvalued. Nvidia Revenue Forecast Nvidia's forecast through 2027 is at least $1 trillion in revenue from Blackwell and Rubin. "I see through 2027 at least trillion," noting that AI infrastructure investment is accelerating rapidly. Now, this wasn't broken up quarter by quarter or anything like that. The company had $51.3 billion in compute revenue in the most recent quarter based on "sustained strength in Blackwell and Blackwell Ultra." The company has guided for +$10 billion in Q1 FY27 revenue, which we expect to primarily come from datacenter compute. We're going to assume this $1 trillion guidance is for calendar years 2026-2027. Nvidia doesn't reveal the breakdown, and its quarters are offset slightly, but its Q1 FY27 guidance implies $20 billion in monthly compute revenue. For the two-year period, that's $480 billion. Another way to look at it, is Nvidia's networking-to-compute ratio is 1:5, and together the two make 91% of the company's quarterly revenue. The other remaining $6 billion in revenue is relatively fixed and not growing the same (gaming, etc.). At the end of the day, let's presume this is compute revenue, with a linear increase that finishes the period at ~$40 billion/month. That implies a 2027 exit rate of $150 billion/quarter in revenue. Nvidia Investor Presentation Modeling the quarterly results from this is difficult. It's just under 2 years from the present day, implying ~50% YoY growth for the next 2 years. Margins have sat in the mid-70s for a while now, so we'll assume 75% gross margins. This could actually decrease with skyro...