Welcome to Markets Desk, here's what's moving the tape this afternoon.
Amazon delivered a complicated quarter — AWS cloud revenue surged nearly forty percent, its fastest growth in five years, pushing net profit above twenty billion dollars. But the company still missed Wall Street's overall revenue and earnings per share targets, leaving investors with a mixed picture heading into the holiday stretch.
Intel told a sharper story, and not a good one. Shares cratered sixteen percent after the company issued a sales forecast roughly one billion dollars below analyst expectations. That kind of miss signals deeper structural pressure on Intel's core business at a moment when the chip landscape is being redrawn in real time.
And on that front, Nvidia is moving aggressively to own the AI development stack. The company has proposed a nearly thirteen billion dollar acquisition of Hugging Face, the platform where more than eighteen million developers find, test, and deploy AI models. If it closes, Nvidia wouldn't just be selling the hardware powering AI — it would control a critical gateway to the models themselves.
That's the tape. Markets Desk, signing off the floor.
