The Transcript

Next week in earnings:

$UBER COO: "“Brazil is our second largest mobility market by bookings, by dollars, and our largest mobility market by trips volume and meaningfully so.”"

$HSBC CEO: HSBC remains the dominant transaction bank in Asia “We're more than twice larger in revenue terms than our second best competitor. We're more than 2.5x larger than the average of our next 3 competitors.”

The $NVDA roadmap

$NVDA CEO: Software isn't dead "And we're working with so many companies: Cadence and CrowdStrike, and also Palantir, SAP, and ServiceNow. People always said, 'Jensen, the agents are going to disrupt these markets.' I said completely the opposite. And you can now see it. Agents are going to create the largest opportunity ever for my partners and friends."

$NVDA CEO: "Ladies and gentlemen, NVIDIA's RTX Spark laptops" $MSFT

$NVDA CEO: AI factory capex intensity is rising dramatically "Each one of these, at the one-gigawatt level, started at $20 to $30 billion. It's now at $50 to $60 billion. And soon, it will be $80 to $100 billion per gigawatt. $100 billion into an AI factory. It must work the first time, and it must work right away. The cost of capital is incredible. The complexity is incredible."

$NVDA CEO: "This is GitHub. The pull request is when they download software, they modify it & commit is when they push it back up. And so, if you could look at this: in 2023, the number of commits was 300M; in 2024, 400M; in 2025, 500M commits. In the first few months of 2026, it has nearly tripled."

$LSCC Lattice Semiconductor CEO: "The latest numbers that we've seen for CapEx were just the hyperscaler for next year in '27 is going to be over $1 trillion, over $1 trillion. This number continues to grow, and this is just the hyperscalers."

$CRM Salesforce

Berkshire Hathaway to acquire Taylor Morrison for $8.5B EV. —Deal price: $72.50/share in cash. —Premium: 24% to Taylor Morrison’s last close. —Berkshire says it plans to unify its site-built homebuilding operations over time. $BRK.A $BRK.B $TMHC

$CPRT Copart CEO: "Many consumers… have pulled back on their insurance coverage in one way or the other, meaning they've moved from collision to liability only or they have increased their deductibles.”"

$VRT Vertiv Holdings CEO: "A snapshot of our mix in 2025. But let's start a little bit looking at this year. We are guiding $13.75 billion revenue, that's our guide certainly a lot of growth, a total 34% growth, and you see this growth represented in a number of employees in Field Services, importantly, Field Service employees in total employees. "

Huawei Chairman: U.S. restrictions accelerated China's semiconductor self-sufficiency efforts “If the United States hadn’t forced our country, our companies, and our industry, we wouldn’t have done something like this. But we are also grateful to the US for enabling our country’s semiconductor industry chain to truly grow. Now the momentum is very good, and everyone recognizes and supports it.

$CSU.TO Constellation Software Business Leader David Wilkes: AI-driven product development cycle compressed from months to hours "At the outset, we came back in May, and we were going faster. If you think of a cycle time from concept through to production software, typically for us, that was measured in months. When we came back in May, we already started measuring that in weeks. And as we went through last year, we turned that from weeks into days. And today, our cycle time is measured in hours

Universal Music Group CFO on AI-generated music: "They've seen the same data as every other DSP that the actual listenership of pure AI-generated music is less than 1% and some part of that is actually fraudulent. So real listenership is like even smaller percentage of that."

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$JPM CEO this week: "I think asset prices are high, including JPMorgan stock. I'm not that fond of buying stock at these prices, or companies. We're quite patient with capital. It's not burning a hole in our pocket at all. It's just there for a while, no problem."