In other news, Reddit revealed more details about its plans to go public, Google's AI model Gemini faced backlash for perceived bias, and Rivian's CEO avoided questions about the company's financial health. In business, Wayfair's CEO credited layoffs for increased efficiency, Vice is shutting down its website and laying off staff, and customers of homebuilding startup Boxabl are requesting refunds due to long waits and poor communication.
Key takeaways:
- Nvidia's earnings beat expectations, causing its stock to skyrocket and boosting the entire market. This success is seen as a validation of the hype around AI technology.
- Despite the AI boom, there are still many unknowns and potential issues, including bias in AI tools and potential lawsuits over copyright laws.
- Reddit has revealed more details about its plans to go public, including the amount of karma users will need to buy shares ahead of its stock-market debut.
- Wayfair's CEO has claimed that the company is more efficient following several rounds of layoffs last year.