Nvidia launches AI chips; Google acquires Wiz Inc

Nvidia had a big week after revealing its latest chip, the Blackwell Ultra, at its annual event in San Jose, California. This new chip is said to be 1.5 times better than its predecessor and boasts significant potential for increasing revenue in data centers. The company is focusing on fulfilling the needs of large customers like Amazon, Microsoft, and Meta Platforms. The Blackwell Ultra chip will allow for faster AI processing and is being produced at a rapid pace. In its last quarter, Nvidia reported that the Blackwell line generated $11 billion in revenue from a total of $39.3 billion. Meanwhile, the US Federal Reserve held its latest meeting and decided to keep interest rates steady for the second consecutive time. This choice came amid concerns about persistent inflation. Chairman Jerome Powell noted that tariffs from the Trump administration might be contributing to inflation rates. The Fed’s current benchmark rate remains between 4.25% and 4.5%. Although officials predict two interest rate cuts later this year, they are taking a cautious approach before making any changes. In another major move, Alphabet, the parent company of Google, announced it will acquire cybersecurity firm Wiz Inc. for $32 billion in cash. This deal comes after previous negotiations fell through. The acquisition is Alphabet's largest and is intended to enhance its cloud security offerings to better compete with Microsoft and Amazon. Wiz had initially planned to go public but is now becoming part of Google. The acquisition may face regulatory scrutiny, despite industry changes that could favor such deals.