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Nvidia forecast third-quarter revenue above Wall Street estimates on Wednesday, helped by robust demand for its artificial intelligence chips from cloud providers expanding infrastructure to power generative AI technology. The AI market bellwether expects revenue of $54 billion, plus or minus 2%, in the third quarter, compared with analysts’ average estimate of $53.14 billion, according to data compiled by LSEG. The company said it has not assumed any shipments of its H20 chips to China in the outlook. Shares of the world’s most valuable firm fell 2.5% in extended trading. Nvidia shares have gained more than a third so far in 2025, outpacing the benchmark S&P 500 Index’s year-to-date rise of nearly 10%. But the company has been caught in the crossfire of the trade war between Washington and Beijing, as the world’s two largest economies claw for dominance of generative AI technology. The company said it had not assumed any H20 chip shipments to China in the outlook and that there were no H20 sales to China-based customers in the second quarter. Still, demand has surged for Nvidia’s advanced chips that can speedily process the large amounts of data used by generative AI applications as businesses race each other to dominate the new technology. Big Tech companies including Meta Platforms and Microsoft have been spending liberally to support their AI ambitions, and Nvidia is the biggest beneficiary, with a significant chunk of this spending funneled toward its chips. The company said that about half of its $41 billion in data center revenue came from large cloud service providers during its fiscal second quarter. Enthusiasm for AI stocks, centered around Nvidia as Wall Street engaged in picks-and-shovels trading, has been the dominating force behind the rally of the S&P 500 Index over the last two years. In an unprecedented deal with U.S. President Donald Trump, Nvidia has agreed to pay the government 15% of some of its revenue in China in exchange for a reversal of restrictions that curbed sales of its H20 chips to China. But Beijing has cautioned domestic companies about imports and sources said that Nvidia has halted production of H20 chips. Nvidia had in May expected the curbs to shave off $8 billion in sales from the July quarter. The company reported revenue of $46.74 billion for the second quarter, beating estimates of $46.06 billion. Arsheeya Bajwa, Max A. Cherney, and Stephen Nellis, Reuters
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For years, discussion of how AI might replace tasks, the office, and even employees themselves has dominated the cultural zeitgeist. But until now, there hasnt been much overarching data on how AI is actually changing the workforce. On August 26, researchers at Stanford published what theyre calling the largest scale, most real-time effort to calculate that impactand it includes some bad news for Gen Zers. The study was conducted by Erik Brynjolfsson, Bharat Chandar, and Ruyu Chen, all researchers at Stanfords Institute for Human-Centered AI. They used an administrative dataset from ADP, the largest payroll software provider in the U.S., to track monthly payroll records across tens of thousands of firms from late 2022 to July 2025. That data was supplemented by a calculation of occupational AI exposure in a diverse array of fieldsessentially using data from prior studies (see here and here) to categorize how much various professions are being impacted by AI technology. Based on this analysis, the researchers reached six key conclusions on how AI is changing the workforce. Here are the most important findings for employees to understand. Bad news for Gen Zers in AI-exposed fields The study shows that, for some early career professionals, AI may indeed be making it harder to find a jobdespite the fact that, overall, employment continues to grow robustly. Among workers aged 22 to 25, the researchers uncovered a 13% decline in employment in occupations most exposed to AI, like software developers and customer service representatives, even after controlling for firm-level impacts. For example, by July 2025, employment for software developers aged 22 to 25 declined by nearly 20% compared to its peak in late 2022. In an interview with Fast Company, Brynjolfsson clarified that his team cant necessarily draw a hard causal line between companies AI exposure and this decline in employment. However, he says, the pattern did remain consistent even when testing against a range of variables, which suggests a likely connection. We didn’t do an experiment where we gave some companies LLMs and not other companies, so we’re just observing what happened, Brynjolfsson says. But we could rule out some of the main alternative hypotheses. Even if you take out the entire tech industry, for instance, you still see this phenomenon: Its something going on beyond just tech. Or if you take away all remote work and just look at jobs that are not remote, you see the same thing. Good news for older workers While jobs for young workers in AI-exposed fields have been declining, older workers have been largely shielded from those negative impacts. Employment for mid-level and senior employees in AI-exposed fields has actually increased by 6 to 9 percent from 2022 to 2025, consistent with the growth across the job market at large. I think one of the things that the senior people may have had an advantage in is they had a lot of on-the-job learning tips and tricks about how to use AI that aren’t necessarily taught in school, Brynjolfsson says. That was something that gave them a differentiation from what the LLMs were able to do. But for all of themmid-level, senior, juniorI think you have to keep an eye on the rapidly evolving capabilities. This is not the end of AI advances. Good news for everyone in an occupation that doesnt rely on AI (yet) In jobs that are less exposed to the impacts of AI techlike nursing aides, maintenance workers, and taxi driversemployment remained stable or continued to grow. In fact, young workers in these kinds of professions actually saw higher employment growth than their older counterparts. Not all AI use is created equal According to the researchers, not all uses of AI are associated with declines in employment. Employment declined for young workers in occupations that largely rely on AI to automate tasks (i.e. complete them in their entirety), whereas employment actually grew in occupations where AI was primarily augmentative (i.e. helping the user complete a task or learn a new skill). The reality is that there are a lot more benefits in augmenting and allowing people to do new things, Brynjolfsson says. [Automating and augmenting] can be productive, but I think complementing workers, rather than substituting for workers, has been underrated. It was striking to see the data show the same thing.
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After unveiling her upcoming new studio album, The Life of a Showgirl, just two weeks ago, Taylor Swift has broken the internet once againthis time, with news of her engagement to Travis Kelce. The pair’s love story reached new heights on August 26 with the public announcement on Instagram that Swift said yes after a picture perfect proposal amongst the roses.In theory, the future nuptials of this power couple will consolidate a big sum of money, because whats mine is yours and such (unless contracts to the contrary are signed). Lets take a look at the pop singer and football star’s individual net worths, and how they stack up against other wealthy dynamic duos. Taylor Swifts net worth The Blank Space singer began her professional singing career at just 14 years old when she signed a publishing deal with Sony/ATV. She was then signed by Scott Borchetta to Big Machine Records. Her self-titled debut album dropped on October 24, 2006and the pop star hasnt stopped creating, touring, and dropping Easter eggs for her fans since. With 14 Grammys and 11 studio albums (with number 12 set to drop in October), Swift’s non-stop style has certainly paid off. A 2025 Forbes article listed her net worth at $1.6 billion. In 2023, the Eras Tour pushed her from the millionaire category to billionaire status, making Swift the first woman to achieve her wealth through mainly performing, songwriting, and her extensive music catalog. Travis Kelces net worth While Swift significantly out-earns her man, Kelces income is nothing to turn your nose up at. According to a 2024 Forbes report, the Kansas City Chiefs tight end brings $52 million to the upcoming marriage. In April of 2024, he signed a two-year contract extension with the Chiefs, worth $34.25 million. His popular podcast with brother Jason Kelce, New Heights, is reportedly under a three-year-minimum contract worth $105 million. And let’s not forget Travis’ multiple endorsement deals, which might make the 2024 figure even higher. What is Taylor Swift and Travis Kelce’s combined net worth? By simply adding up both Forbes estimates, which are probably on the conservative side, this power couple will be worth a combined total of $1.652 billion. Kelce’s contribution to this is around 3.25%. How does Taylor Swift and Travis Kelces net worth compare to other power couples? One power couple that has Swift and Kelce beat: Beyonce and Jay-Z. According to Forbes, Queen Bey is worth $780 million, while Jay-Z brings $2.6 billion to the table. That makes their grand total out to be $3.38 billion. So if the power couples double date, the hip-hop stars should pick up the bill. Another more cinematic power couple who outranks Swift and Kelce is director extraordinaire Steven Spielberg and former actress Kate Capshaw. The Jaws director is worth $5.3 billion, and while Forbes doesnt directly list Capshaws net worth because she has decided to pursue a more private life, she brings some wealth to the picture as well. A more sporty power couple, Victoria and David Beckham, rank lower than Swift and Kelce. The former Spice Girl and soccer player are worth a combined sum of $514 million, according to the 2023 Sunday Times Rich List. But even though fans know Swift is very into numerology, we can assume shes probably not thinking as much about dollars and figures since the proposalbecause after years of writing about heartbreak and failed relationships, shes finally found the love of her life.
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