The tech world is abuzz with news from Nvidia, the leader in AI chips, as it prepares to release its fourth-quarter earnings. The company's shares have been trending lower since the emergence of Chinese startup DeepSeek, which claimed to have developed AI models rivaling Western counterparts at a fraction of the cost. Despite this, Nvidia's forecast for first-quarter revenue has exceeded expectations, signaling strong demand for its advanced chips. Meanwhile, the banking sector is embracing AI, with BNY partnering with OpenAI to boost its in-house AI platform. However, concerns about AI's impact on the legal profession have been raised, with reports of AI hallucinations appearing in court filings and legal work product. The Paris Summit has launched a global initiative, the Coalition for Sustainable AI, to align AI development with the SDGs. Emburse has added AI capabilities to its product suite to tackle expense management, and Snowflake has projected better-than-expected revenue growth with a focus on AI adoption.
Nvidia's Earnings Test
Nvidia's earnings are set to dictate whether artificial intelligence can regain its status as the key driver behind Wall Street gains. The company's fourth-quarter earnings due after Wednesday's close may be its most critical yet, coming after the emergence of China-based startup DeepSeek scrambled the outlook for AI infrastructure needs. While Nvidia shares had been trending higher this month, they remain below their pre-DeepSeek levels. Investors have been more reluctant to buy this dip than previous selloffs, and hedge funds have sold tech of late.
Nvidia Forecasts First-Quarter Revenue Above Estimates
Nvidia forecast first-quarter revenue above Wall Street estimates on Wednesday, signaling strong demand for its market-leading artificial intelligence chips. The company expects revenue of $43 billion, plus or minus 2% for the first quarter, compared with analysts' average estimate of $41.78 billion. Demand has grown for Nvidia's advanced chips that can speedily process the large amounts of data used by generative AI applications, as companies race each other to emerge as leaders of the new technology.
BNY Teams With OpenAI to Bring ‘Transformational’ AI to Banking
BNY, the oldest bank in the United States, has partnered with OpenAI to bring ‘transformational’ AI to banking. The partnership gives BNY access to OpenAI artificial intelligence tools like the company's in hopes of boosting the bank's in-house AI platform. For its part, OpenAI hopes to glean insights into how its models do when carrying out complex tasks in real-world situations.
How Smart Lawyers Make Dumb AI Mistakes—And How To Avoid Them
The legal community has been increasingly alarmed by reports of artificial intelligence hallucinations appearing in court filings and legal work product. These fabrications—ranging from non-existent case citations to entirely fictional legal precedents—have embarrassed attorneys, undermined client representation, and in some cases, led to judicial sanctions. Despite these legitimate concerns, the integration of AI into legal practice is unavoidable.
Paris Summit Launches Coalition for Sustainable AI
The Paris Summit has launched a global initiative, the Coalition for Sustainable AI, to build a global community of stakeholders and align AI development with the SDGs. The coalition brings together over 100 partners, including 37 tech companies, 11 countries, and five international organizations. Its goal is to encourage AI initiatives that support environmental policies, such as decarbonizing economies, reducing pollution, and preserving biodiversity.
Emburse Bets on AI to Tackle Expense Management
Travel and expense solutions provider Emburse has added artificial intelligence capabilities to its product suite. Emburse AI is designed to alleviate common frustration in expense and invoice management. The product suite is designed to provide faster and more autonomous expense and invoice submissions, using machine learning to grasp context, predict missing or unclear information and adapt to various formats for more precise data extraction.
Snowflake Gives Strong Sales Outlook With Focus on AI Adoption
Snowflake Inc. projected better-than-expected revenue growth for the fiscal year, sending an optimistic signal about the adoption of its recently launched products for artificial intelligence. The shares jumped in extended trading. Product revenue, which makes up the bulk of Snowflake's business, will increase about 24% to $4.28 billion in the year ending January 2026, the company said Wednesday.
Key Takeaways
- Nvidia's earnings will dictate whether AI can regain its status as the key driver behind Wall Street gains.
- The company's forecast for first-quarter revenue has exceeded expectations, signaling strong demand for its advanced chips.
- BNY has partnered with OpenAI to bring ‘transformational’ AI to banking.
- The legal community has been increasingly alarmed by reports of AI hallucinations appearing in court filings and legal work product.
- The Paris Summit has launched a global initiative, the Coalition for Sustainable AI, to align AI development with the SDGs.
- Emburse has added AI capabilities to its product suite to tackle expense management.
- Snowflake has projected better-than-expected revenue growth with a focus on AI adoption.
Sources
- Nvidia’s Shaken Aura of Invincibility Is Set for Earnings Test
- Nvidia forecasts first-quarter revenue above estimates
- BNY Teams With OpenAI to Bring ‘Transformational’ AI to Banking
- How Smart Lawyers Make Dumb AI Mistakes—And How To Avoid Them
- Elon Musk Is Likely Stealing Your Information Because AI Training Data Is ‘Exhausted’
- Paris Summit Launches Coalition for Sustainable AI
- Live: Nvidia Earnings Analysis
- Emburse Bets on AI to Tackle Expense Management
- Nvidia sales surge in the fourth quarter on demand for AI chips
- Snowflake Gives Strong Sales Outlook With Focus on AI Adoption