If anyone was waiting for the AI ​​bubble to burst, NVIDIA’s results have a message: sit tight

NVIDIA just published your results of the fourth quarter of its last fiscal year and has left Wall Street speechless. Revenues of $68.1 billion, a net profit that almost doubles that of the same period of the previous year, and a forecast for the following quarter that has far exceeded analysts’ expectations. And all this in a turbulent context where more efficient models and other alternatives are beginning to appear. The crash of DeepSeek is far away, and the demand for chips does not slow down. We tell you the numbers in detail. In case your position was not clear. Only a handful of companies in history have exceeded $100 billion in annual profit. Alphabet, Microsoft and Apple are in that club. NVIDIA has just joined them, with $120 billion in profits in the last twelve months, according to the report. The difference is speed: just three years ago, its annual profit was 4.4 billion. We can say with certainty that no technology company has ever grown so quickly on that scale. AI, and more AI. The engine that has driven these profits is its data center business, which generated $62.3 billion in the quarter, 71% more than a year ago. Within that segment, if we focus on their Blackwell chips, they have gone from entering 32.6 billion to 51.3 billion, while the networks (NVLink, Spectrum-X and InfiniBand) grow from 3,000 to 11,000 million. Gross margin is 75%, and earnings per share nearly double to $1.76 in GAAP terms (which is the official rulebook that companies follow to demonstrate transparent accounting). What Jensen Huang says. “Without computing, there is no way to generate tokens. Without tokens, there is no way to grow revenue.”, counted directly the CEO of NVIDIA in the meeting with investors. Their thesis is that in the new AI economy, computing power directly equates to revenue for their customers. That is why the large cloud service providers (Google, Amazon, Microsoft, Meta) continue increasing your capex budgetswhich together will exceed 500,000 million dollars in 2026 to build AI data centers. And NVIDIA is the main beneficiary of that expense. What DeepSeek has not broken, but accelerated. At the beginning of 2025, the emergence of the Chinese DeepSeek model generated an unprecedented tremor in the markets, leaving a simple question in our minds: if AI becomes more efficient, why do we need so many chips? The answer from NVIDIA’s results is that efficiency does not reduce infrastructure demand, it multiplies it. Every improvement in inference efficiency lowers the cost per token, encouraging more companies to deploy more AI applications, which in turn requires more compute. It’s like Jevons’ paradox, but applied to AI: efficiency expands the market instead of contracting it. Agentic AI as the next catalyst. On the same call with investors and analysts, Huang stood out that “enterprise adoption of agents is skyrocketing.” AI agentsthese systems that make decisions and execute tasks autonomously, require many more inference cycles than chatbots. They are the next step in the AI ​​value chain, and NVIDIA is once again in a privileged position. Colette Kress, CFO of the company, confirmed In addition, the first samples of Vera Rubin, the next generation of chips that will arrive later this year, have already been sent. China and the competition. Not everything is green. NVIDIA acknowledged that its forecast for the next quarter ($78 billion) does not include computing revenue in China. The company has generated just about $60 million from H20 chips since the Trump administration reapproved some sales in August 2025, according to SEC filings, and has yet to earn revenue from the most recently approved H200. Regulatory uncertainty with Beijing remains a small China in Huang’s shoe. In parallel, competitors such as AMD, Broadcom or Google’s own custom chips (TPUs) are gaining ground. But the NVIDIA CEO remains focused on his vision. And according to pointed at the meeting: “Every company depends on software, and all software will depend on AI.” As long as this is fulfilled, everything indicates that NVIDIA will continue selling the blades and picks. Cover image | NVIDIA In Xataka | NVIDIA was founded by three engineers, but only Jensen Huang remains CEO: “I wish I had kept some shares”

We have been waiting for years for 8K TVs to take over the world. It is evident that we are going to sit and wait

In the 80s you guessed that Indiana Jones had a four-day beard, but that’s all. You couldn’t really see it, because on your VHS tapes it was more of a shadow than anything else. Those of us who have gray hair are lucky (or unlucky) to have lived in past times in which image resolution It was something arcane and mysterious. I was content with the video quality of the VHS tapes of ‘The Goonies’ or ‘Indiana Jones and the Lost Ark’ and I was happy with my C64 and its 320×200 pixels and those matches of ‘Match Day II’ with my brother in which we both enjoyed (and fought) as if we were playing the last game. FIFA EA Sports FC. Then, of course, everything improved and we began to realize that the resolution was important. We discovered that DVDs and their 720×576 resolution (in the PAL system used in Spain, in the US the NTSC only reached 720 x480) was like seeing the future until that future became the past with the arrival of HD Ready (720p) and especially Full HD (1080p) resolutions. Suddenly it was absolutely obvious that Harrison Ford hadn’t shaved.

headphones that sit behind the ears

OpenAI has confirmed that it will launch its first physical device in the second half of this year. Chris Lehane, head of global affairs for the company, announced it at the World Economic Forum in Davos as one of the “top priorities” of the year. The leaks they point to headphones codenamed “Sweetpea.” Foxconn will manufacture them in Vietnam. The sales goal for the first year is quite ambitious: between 40 and 50 million units, approximately. half of the AirPods that Apple sells at the end of the year. Why is it important. OpenAI has more than 800 million weekly ChatGPT users, but relies on third-party devices and platforms to reach them. With their own hardware, they begin to control the entire chain: development, distribution and user experience. It is also a play against Apple. AirPods dominate the wireless headphone market followed by Xiaomi, and now OpenAI enters its field with a proposal based on conversational AI and cloud processing. The audio would be only part of the product, the difference is in the integrated conversational intelligence. The design. The headphones will have a different shape than conventional models. According to leaks from Economic Daily News (UDN)they will be placed behind the ears, closer to what we usually see in headphones than in AirPods-style headphones. The charging case will be shaped like a smooth stone and will house two metal capsules. All this according to the first leaks: it is confirmed that the OpenAI device will arrive, the details are not yet. Jony Ive, the former Apple design chief whose company acquired OpenAI in 2024, is supervising the project. His presence raises expectations regarding the aesthetics of these headphones: Ive was the father of many of Apple’s iconic designs during the first decade of this century. The technology. The headset will use a 2-nanometer chip for basic local processing (the simplest queries), but most of the AI ​​work will be done in the cloud, following the usual OpenAI model. There will be adapted language models that will work on the device for light tasks and more complex ones will require an Internet connection and will run on OpenAI servers. Between the lines. OpenAI initially ruled out Luxshare as a manufacturer due to its location in China. The decision to produce in Vietnam seeks to avoid suspicions in the United States and avoid tariff problems. Yes, but. The history of native AI devices is full of failures: He Humane AI Pin It ended up being sold to HP and its owners were left with a paperweight. He Rabbit R1 It had a lot of initial hype but was soon forgotten. Replacing headphones that people already use daily requires a brutal value proposition, and without deep integration with iOS or Android, the device will have to prove that it justifies changing ecosystems. Nothing launched a headset with ChatGPT integration a while ago and beyond the initial hype, they have not shown any signs of being a special success either. Smart glasses have a similar approach and being able to use them to take photos and videos at any time without using your hands is winning them over. In Xataka | ChatGPT has been a tool. If you start remembering all our conversations, it’s going to be something else: a relationship. Featured image | Dima Solomin, Hostaphoto

They sit at the table of the giants

He BYD test track in Zhengzhou It has a 29-meter interior dune certified by Guinness, a 70-meter pool for its amphibious cars, layouts off-road and an impeccable asphalt circuit to step on the accelerator. All designed to impress. And it works. More than a hundred journalists from America, Europe, the Middle East and Africa were summoned to witness an exhibition of strength. There were no big product announcements. The message was different: BYD no longer plays in the league of aspirants. He sits at the table of the giants, he knows it and enjoys it calmly. If the circuit was the muscle, Stella Li was the brain exposed to the media. During the session with three dozen international journalists, the Xataka Legend 2025 He responded bluntly about tariffs, global strategy, competition with Tesla and the future of the combustion engine. And it did so from a position of unprecedented confidence: BYD has sold more than 3.7 million “new energy” vehicles (NEV) as of October 2025. It is the world’s number one in BEV and PHEV combined. In September, it reached third place in global automobile sales – all technologies included –, only behind Toyota and Volkswagen. “Our growth is not a coincidence. We are a technology company that manufactures cars, not the other way around“Li emphasized during his previous speech. BYD employs more than 120,000 engineers and files dozens of patent applications every day. Europe, tariffs and the factory that changes everything When asked about European tariffs – which penalize Chinese electric companies – Li was direct: “The Hungarian factory will be operational at the end of this year. The impact of the tariffs will be zero in the short term. We will be a European manufacturer.” It was a response loaded with symbolism. BYD does not avoid the trade conflict but neutralizes it with local investment. And it is not the only front. Li confirmed that after Hungary will come plants in Brazil, Türkiye and other strategic markets. The lesson is clear: BYD builds where it sells. But Europe will not be just battery and volume. Li announced that YangWang, BYD’s luxury brand, will arrive in 2026, although without specifying models. “We want to bring premium PHEV technology to the market,” he said. “We are still defining which model will be first, but it will be something that the competition cannot ignore.” The veiled reference to the German BMW-Mercedes-Audi trident did not go unnoticed. One of the most interesting revelations of the session was BYD’s dual strategy in Europe. The brand started with a 100% electric bet (BEV), but now openly embraces PHEV technology as a workhorse. “In China, more than 50% of NEV vehicle sales are PHEVs,” Li said. “In some cities, it exceeds 60%. Consumers choose technology DMi because it is better: electric autonomy for everyday life, a combustion engine for long trips, and lower fuel consumption than any conventional hybrid.” The technology that changes the rules DMi 5.0 technology allows consumption of 2.6 liters per 100 km and combined ranges of up to 2,100 km with a single tank and one charge. In Europe, the Signal 6 DMi offers 1,500 km. “It is the perfect solution for markets where charging infrastructure is still limited,” he added. Is the combustion engine going to disappear? “Not in the next few years,” he answered without hesitation. “But in the future. Once more people experience DMi or BEV, the fate will be clear.” Asked about Tesla and the race for world number one, Li avoided the confrontation: “We are not obsessed with rankings. Tesla focuses on pure BEVs, we offer more options. “We believe in coexistence, even cooperation.” In fact, BYD already supplies batteries to other manufacturers. “We are not just a car brand,” Li recalled. “We produce batteries for energy storage, electronic components… You use BYD products in your daily life without knowing it.” That diversification is your secret weapon. The usual thing is to depend on external suppliers, but BYD controls the entire value chain: Blade batteries, motors, electronic platforms, semiconductors… Vertical integration as immunity to supply interruptions. Regarding the brutal price war in China, Li was cautious but realistic: “The competition is bloody. But BYD does not compete only on price. We compete on technology, experience, ecosystem.” How many Chinese brands will survive? “Too many are competing now. I don’t know how many will be left. But I know that competition makes us better.” The issue of national competition is not trivial: there are a brutal number of brands and it seems unlikely that all of them will have a place in a future that points to consolidation thanks to mergers, acquisitions of smaller ones and perhaps others that cannot survive directly. The record that is not just marketing If there were any doubts about BYD’s ambitions in the premium segment, the YangWang U9 Xtreme put them to rest. The electric supercar reached 496.22 km/h on the ATP Automotive Testing Circuit Papenburg (Germany) in September, becoming the fastest production car on the planetdisplacing Bugatti. Driving it in Zhengzhou, although limited to a maximum peak of 160 km/h for safety, was brutal. Total silence, instant thrust, space launch feeling. It is a car that It has a profit above its own sales: It serves to demonstrate that BYD can manufacture whatever it sets its mind to. A few years ago BYD manufactured cheap cars of dubious quality, today they are behind that missile called YangWang U9 and its record: it is the fastest production car in the world thanks to its 496.22 km/h. Image: Xataka. Among all the technologies on display, one stood out for its potential impact: Flash Charging, BYD’s ultra-fast charging infrastructure. With a voltage of 1,000 V and batteries integrated into the stations, the system promises up to 2 km of autonomy per second of charging. And in five minutes, 400 km. “Recharging will be as fast as refueling,” Li promised. Of course, with double hose. And here comes the play: BYD will install … Read more

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