Tobias

Nvidia’s recent SEC filing reveals that two major clients comprised 39% of its Q2 revenue, a significant increase year-over-year, raising concerns about customer concentration. While Nvidia names these as ‘Customer A’ and ‘Customer B’, it is not clear if those are cloud providers, but ‘large cloud service providers’ contribute ~50% of data center revenue. Indirect clients contribute significantly via Customers A & B. Nvidia also highlighted revenue from an “AI research and development company” via both direct and indirect channels and anticipates $20 billion in revenue for “sovereign AI” initiatives this year.

Bubble Mart’s new Mini LABUBU blind box collection launched yesterday and sold out almost instantly online. The “Inner Code” series was particularly popular, causing overwhelming traffic and “Sold Out” messages on platforms like Tmall and Douyin. Early sales figures show over 1.078 million units sold across Bubble Mart’s online flagship stores. Founder Wang Ning anticipates the Mini LABUBU, designed as a phone accessory, will be a “super-selling blockbuster,” reflecting the company’s strategy to integrate IPs into daily life.

Gree Electric Appliances reported a slight revenue decrease of 2.46% to ¥97.325 billion in its 2025 H1 report, while net profit rose 1.95% to ¥14.412 billion. The company will not distribute dividends. Livestreaming e-commerce generated over ¥5 billion in sales, contributing to consumer engagement. Gree also highlighted its extensive online and offline sales network. Recently, Gree and Xiaomi engaged in a public dispute over air conditioner sales rankings, underscoring market competition.

Nvidia’s Q2 earnings beat expectations with a 56% revenue surge to $46.74B and EPS of $1.05. Data center revenue, while growing 56% YoY, slightly missed estimates for the second consecutive quarter. Nvidia forecasts $54B in revenue for the next quarter, excluding potential China H20 shipments. CEO Jensen Huang highlighted the immense long-term AI opportunity, projecting infrastructure spending could reach $3-4 trillion by 2030. Analysts maintain a positive outlook, citing solid growth and consistent performance.

A Stanford study reveals generative AI’s disproportionate impact on early career job prospects. Analyzing ADP payroll data, researchers found a 13% employment decline since 2022 for 22-25 year olds in AI-exposed sectors like customer service and software development. Conversely, experienced workers in the same fields and workers in less AI-vulnerable occupations saw stable or growing employment. AI’s ability to replace “codified knowledge” may disadvantage younger workers, while its complementary role in some areas sustains employment.

China’s luxury market is rebounding, driven by Qixi Festival gifting. Apparel, shoes, and handbags are popular choices, with e-commerce platforms seeing increased sales. However, consumers prioritize value, seeking discounts and cost-effectiveness. E-tailers are capitalizing on this trend with sales events, offering luxury goods at significantly reduced prices. This shift reflects a broader consumer behavior, where cost-effectiveness and emotional satisfaction are key drivers, particularly among younger shoppers moving away from purely expensive items. China’s gift economy continues to grow, projected to reach ¥1.6197 trillion by 2027.

Tesla’s European sales plummeted 40% in July, marking the seventh consecutive month of decline despite overall BEV market growth. Chinese competitor BYD surged with a 225% increase. Intensifying competition, potentially coupled with brand impact from Elon Musk’s public persona and ties to the Trump administration, are contributing factors. Tesla’s global performance faces scrutiny, with concerns about its aging vehicle lineup. BYD’s aggressive European expansion, capturing over 5% market share, intensifies the pressure on Tesla and legacy automakers.

Haier Group, via Katai Capital, acquired a 43% controlling stake in Autohome from Ping An Insurance for $1.8 billion. This makes Haier the controlling shareholder, while Ping An retains a 5.1% indirect stake. Concurrently, Wu Tao stepped down as CEO, replaced by Yang Song who assured no layoffs. Yang Song envisions Autohome’s evolution into a comprehensive automotive ecosystem through collaboration with Haier and Ping An. Autohome, founded in 2005, has seen previous ownership transitions involving Telstra and Ping An.

Microsoft fired two employees after a protest at its Redmond headquarters by “No Azure for Apartheid,” a group objecting to the Israeli military’s use of Microsoft software. The company cited serious breaches of policy and unlawful break-ins. The group claims the terminations involved Riki Fameli and Anna Hattle. Microsoft is investigating the protest, which included blocking access to an executive’s office and planting recording devices. This follows earlier protests and accusations that the Israeli military misused Microsoft’s Azure cloud.

Following Wuhan’s pet-friendly hotel trend, a Guangzhou guesthouse is gaining popularity for offering “Cat Cuddling” or “Cat Butler” services. Guests can enjoy the companionship of eight resident cats (Ragdolls, British Shorthairs, and American Shorthairs) in three rooms, with nightly rates ranging from ¥400 to over ¥1000. The guesthouse prioritizes hygiene and safety with vaccinated and groomed cats, 24-hour surveillance, and readily available first aid. They’ve served over 700 customers, offering a private experience distinct from traditional cat cafes.