Third-century baths and sanitary facilities at Vindolanda, a Roman stronghold near Hadrian’s Wall in England
Vindolanda Trust
Although the Romans were recognized for their sophisticated sanitation systems, those stationed in major forts in northern England likely endured numerous digestive illnesses caused by parasites.
The Vindolanda Fortress, situated close to Hadrian’s Wall and inhabited by Roman soldiers from the 1st to 4th century AD, was likely not suitable for individuals with sensitive stomachs, as excavations of waste pits at this location indicate.
Piers Mitchell and his team from the University of Cambridge collected and examined nearly 60 sediment samples from the communal toilets believed to have been utilized in the 3rd century.
Utilizing microscopy, they discovered the eggs of two intestinal parasites: roundworms and whipworms. Additionally, they identified a one-celled parasite called duodenal giardia through specific antibodies that bind exclusively to proteins found in this organism.
All three parasites can lead to gastrointestinal issues, which can be particularly severe for children, the elderly, and immunocompromised individuals.
“Even with our efforts to implement Roman conveniences like baths and toilets, we still faced diarrhea and intestinal parasitic diseases,” Mitchell remarked.
Structures such as toilets, baths, aqueducts, and fountains primarily served to enhance air quality and maintain visible cleanliness, he explains. “They lacked microscopes and therefore were unaware of many infections that plagued them.”
Whipworm eggs discovered in a sewer pipe in Vindolanda
Marissa Ledger
Excavations at another nearby fort, occupied in the 1st century AD and believed to have defensive ditches, also revealed roundworms and whipworms.
“The contents of the sewage drains consist of mixed fecal matter from various individuals utilizing the toilets, making it difficult to determine the infection rate among soldiers,” Mitchell states. “However, the presence of parasite eggs along the sewer drains implies that a considerable number of individuals using the facilities were likely infected.”
Roundworms and whipworms are also found throughout the Roman Empire; giardia, however, has only been identified in the Roman contexts in Turkey and Italy, according to Mitchell.
If asked whether he would like a glass of water during the time the fort was operational, he would certainly decline. “They might say, ‘How about a beer instead?'”
Exploring Hadrian’s Wall and Roman Innovations: England
Embark on an immersive walking tour tracing the paths of the Romans along Hadrian’s Wall, one of Britain’s most iconic ancient sites and a UNESCO World Heritage gem.
Concerns about a potential bubble in the artificial intelligence sector emerged again on Thursday as major U.S. stock markets declined, just a day after chipmaker Nvidia’s impressive results had sparked a market rally.
Initially, Wall Street experienced a boost following Nvidia’s reassurance of robust demand for its advanced data center chips. However, this optimism faded as the tech stocks central to the AI boom began to face downward pressure.
In New York, the S&P 500 index ended the day down 1.6%, while the Dow Jones Industrial Average fell by 0.8%. The tech-focused Nasdaq Composite Index dropped by 2.2%.
Earlier in the session, the FTSE 100 rose by 0.2% in London, and the DAX closed 0.5% higher in Frankfurt. The Nikkei Stock Average increased by 2.65% in Tokyo.
Currently valued at approximately $4.4 trillion, Nvidia has seen an extraordinary surge in valuations among AI-related companies in recent months. The escalating concerns about a bubble have arisen as businesses invest heavily in chips and data centers to secure their position in the AI market.
Nvidia continues to experience strong demand, with highly anticipated earnings surpassing expectations on Wednesday. Yet, worries persist that companies utilizing these chips and investing in AI are making substantial expenditures to stimulate demand.
“The sale of semiconductors to support AI doesn’t mitigate fears that some hyperscalers might be overspending on AI infrastructure,” remarked Robert Pavlik, senior portfolio manager at Dakota Wealth. “While certain companies are turning a profit, many are still investing heavily.”
Mixed employment data released Thursday morning highlighted robust labor market growth in September, albeit with a slight uptick in the unemployment rate, reinforcing the expectation that Federal Reserve policymakers may choose to maintain interest rates at their upcoming December meeting.
Nvidia’s stock saw a decline of 3.2%, while the VIX index, which gauges market volatility, increased by 8%.
Global stock markets experienced an upward trend following Nvidia’s impressive third-quarter profits, which surpassed Wall Street forecasts, easing concerns that the AI company’s skyrocketing valuations might have reached their limit.
On Wednesday, all attention turned to Nvidia, the frontrunner in the AI industry and the highest valued publicly traded company globally. Analysts and investors were eager for the chip maker’s third-quarter results, hoping they would dispel worries about an impending bubble in the sector.
Nvidia’s founder and CEO, Jensen Huang, addressed these apprehensions right at the start of the earnings call, emphasizing that a significant transformation is underway in AI, and Nvidia stands at the core of this change.
“Many discuss the AI bubble,” Huang noted. “From our viewpoint, the situation looks quite different. To clarify, Nvidia differs from other accelerators. We shine at every phase of AI, from pre-training through to inference.”
The company consistently exceeded Wall Street’s expectations across multiple metrics, indicating that the substantial AI economic boom is not decelerating. Nvidia announced diluted earnings per share of $1.30 on total revenues of $57.01 billion, which topped investor expectations of $1.26 per share on revenues of $54.9 billion. Sales surged by 62% year over year, with data center revenues reaching $51.2 billion—surpassing the anticipated $49 billion. The company also forecasts fourth-quarter sales to be around $65 billion, exceeding analyst expectations of $61 billion.
During a conference call with investors, Huang outlined three pivotal shifts in platforms: the move from general-purpose computing to accelerated computing, the transition toward generative AI, and the development of agential and physical AI, such as robotics and autonomous vehicles.
“When contemplating infrastructure investments, consider three fundamental dynamics,” Huang stated. “Each one adds to the wealth of infrastructure. Nvidia… facilitates all three transitions, and we do so across all types and modalities of AI.”
He further noted that demand for Nvidia’s chips continues to expand.
“AI permeates everywhere and operates on multiple fronts simultaneously.”
According to Thomas Monteiro, Senior Analyst at Investing.com, “This clarifies many uncertainties surrounding the AI revolution; the essence is clear: The AI revolution is far from nearing its peak. Despite investor concerns that rising capital expenditures may compel firms to decelerate their adoption cycles for AI, Nvidia continues to demonstrate that data center growth is not merely an alternative but an essential requirement for every tech company globally.”
Analysts and experts expressed confidence that Nvidia would exceed Wall Street’s forecasts but were keenly awaiting further insights regarding industry demand for the company’s AI chips.
“There’s no denying Nvidia maintains its position as the dominant player in AI-centric chips,” noted David Meyer, a senior analyst at the investment platform Motley Fool. “We anticipate that revenue, margins, and cash flow will align closely with analysts’ predictions. However, invaluable insights are more likely to stem from management’s commentary on their market outlook, whether concerning the AI sector or new markets they are exploring.”
In November, Nvidia’s shares experienced a 7.9% decline amid significant investors offloading their holdings. Peter Thiel’s hedge fund teal macro divested its entire stake in the chipmaker in the last quarter, with estimates of around $100 million in assets, according to Reuters. SoftBank also offloaded $5.8 billion worth of its shares, heightening concerns regarding an AI bubble.
Following the news, Nvidia’s shares, having recently achieved the milestone of being the world’s first $5 trillion company, increased by over 5% in after-hours trading, with S&P 500 and Nasdaq futures also climbing. Asian markets rose on Thursday as well.
However, Stephen Innes of SPI Asset Management cautioned: “NVIDIA’s latest forecast has thus far alleviated some of the most intense apprehensions regarding an AI bubble looming over global markets… Nevertheless, this situation still leaves markets precariously balanced between exuberance over AI and the sobering reality marked by debt.”
“We do not believe Nvidia’s growth can be sustained in the long run,” asserted Alvin Nguyen, senior analyst at Forrester. “Although the demand for AI is unmatched, we anticipate Nvidia’s stock growth may slow if market corrections occur, balancing supply with demand, innovation progresses at a slower pace, or companies become acclimated to the current rate.”
Apple is facing significant challenges this year. While striving to keep pace with other tech giants in the realm of artificial intelligence, it has seen its stock prices decline by double digits since the year began. The recent closure of a Chinese store marks a troubling point, as increasing US tariffs on Beijing pose a threat to its supply chain. On Thursday, the company reported third-quarter fiscal year revenues, inviting scrutiny into its operational improvements.
Despite a bleak forecast, Apple remains valued at over $300 million and exceeded Wall Street’s expectations regarding profit and revenue for this quarter. The tech giant posted a notable 10% year-on-year revenue increase to $94.04 billion, translating to $1.57 per share. This is the most substantial revenue growth Apple has experienced since 2021, surpassing analyst forecasts of over $89.3 billion and more than $1.43 per share.
Revenue from iPhones has also surpassed Wall Street predictions, rising 13% compared to the same quarter last year.
Apple CEO Tim Cook expressed pride in announcing a “June quarter revenue record,” highlighting the growth across its iPhone, Mac, and services sectors. During a revenue call on Thursday, he remarked that the quarterly results were “better than anticipated.”
According to Dipanjan Chatterjee, Vice President and Principal Analyst at Forrester, the growth of services is boosting the company’s revenue streams. “Apple has grown accustomed to enhancing revenue through this service-centric margin business,” he noted.
However, he pointed out some factors contributing to underwhelming product performance, suggesting Apple is trailing in hardware innovation, leading to “consumer indifference,” with its AI rollout experiencing glitches. The AI initiative, dubbed Apple Intelligence, is introducing only incremental features rather than transformative enhancements.
It has been over a year since Apple revealed plans for the AI-enhanced version of Voice Assistant Siri, yet many features remain unreleased.
“This work [on Siri] was discussed during the company’s developer meeting in June,” said Craig Federighi, Apple’s Vice President of Software Engineering.
The imposition of Donald Trump’s tariffs has also complicated matters for the company, as the US president pushes for revitalizing domestic manufacturing. A significant portion of Apple’s products are produced in China, with 90% of iPhones assembled there, despite recent efforts to shift production elsewhere. Cook warned that China’s tariffs could impact revenue by $900 million during the quarterly call.
Apple is actively working to relocate more manufacturing to countries like India and Vietnam. However, this week, Trump announced an increase in tariffs in India set to reach 25% starting August 1st.
During the revenue call on Thursday, Cook reminded analysts that Apple has committed $500 million in the US over the upcoming four years and added, “eventually we’ll do more in the US.” He mentioned that Apple has “made significant progress” with a more personalized Siri, scheduled for release next year.
Both external and internal pressures have significantly impacted Apple this year. Once celebrated as part of the “magnificent 7” industry titans—comprised of the most valuable public tech companies in the US—Apple’s stock is now the second weakest performer, declining seven spots behind Tesla. Since January, Apple’s stock has dropped approximately 15%. Nevertheless, there was a slight uptick in the stock price following Thursday’s after-hours trading, recovering 25%.
Microsoft, currently the second most valuable company in the world, is investing heavily in its artificial intelligence initiatives while simultaneously generating significant revenue. This has led to heightened enthusiasm among investors.
The enterprise software leader announced its fourth-quarter results on Wednesday, surpassing expectations. Investors are closely monitoring the company as it competes for data centers and talent. Microsoft anticipates its capital expenditures for the upcoming fiscal year to exceed $100 billion, representing a 14% increase from the previous year.
In the fifth quarter, Microsoft exceeded Wall Street’s predictions. As the company approaches its 50th anniversary, originally founded by Bill Gates and Paul Allen in Albuquerque, New Mexico, in April 1975, its stock trades near an impressive $513—a 22% rise since the beginning of the year.
Shares of the software titan increased by more than 7% in extended trading on Wednesday.
Microsoft is actively enhancing its data center capabilities to address the growing demand for AI, similar to its competitors Alphabet/Google and Amazon. Recently, Alphabet revealed plans to invest $850 billion on capital expenditures by 2025, while Amazon is contemplating an expenditure of $100 million in the same timeframe.
“Cloud and AI are the primary catalysts for business transformation across all industries and sectors,” stated Satya Nadella, Chairman and CEO of Microsoft. “We are revamping the entire high-tech stack to assist our clients in adapting and thriving in this new era. This year, Azure’s growth has reached 34%, surpassing $750 billion, with an increase in all workload areas,” Nadella noted in a recent statement.
Microsoft reported a revenue of $76.4 billion, outperforming the consensus estimate of $738.1 billion, with earnings per share at $3.65 against an estimate of $3.37. This marks an 18% year-on-year revenue growth, compared to $64.733 billion for the same period last year.
The substantial investments in data centers necessary to support AI products are occurring as businesses increasingly shift their computing demands to the cloud.
Wedbush financial analyst Dan Ives remarked that as Microsoft sees its shares rise to $600,000,000,000,000,000,000, the company is poised to reach a market value of $400 billion and $5 trillion soon, driven by its accelerating adoption of AI technology.
“This was a stellar quarter for MSFT, as cloud and AI become pivotal drivers of major business transformations across all sectors during this AI revolution.”
The escalating costs of attracting top AI talent are also noteworthy. OpenAI CEO Sam Altman revealed that Meta had offered a staggering $100 million signature bonus to recruit talent from his firm. Additionally, Meta reportedly allocated $2 million to senior Apple engineers to join its Superintelligence team.
In response, Microsoft is reportedly compensating high-level engineers with annual salaries of $408,000, as per Business Insider.
Nvidia surpassed Wall Street’s projections in its quarterly revenue report on Wednesday, continuing a streak of financial successes for the technology leader. For the quarter ending in April, revenue reached $44.1 billion, a 69% increase from the previous year.
The company outperformed an investor forecast of $43.3 billion. Adjusted earnings per share were reported at $0.81, falling short of the anticipated 88 cents. Additionally, data center revenue soared to $39.1 billion, marking a 73% growth year-over-year.
Nvidia remains optimistic about the AI sector, both in terms of its advanced hardware and the regulatory challenges on the horizon, which investors are keenly monitoring.
“Nvidia has once again surpassed expectations, but maintaining this lead is growing more challenging,” observed Jacob Bourne, an analyst at Emarketer. “China’s export restrictions highlight immediate geopolitical pressures, but Nvidia also faces competition as rivals like AMD strengthen their positions based on certain cost-effectiveness metrics in AI workloads.”
CEO Jensen Huang stated, “The global demand for Nvidia’s AI infrastructure is remarkably strong. Countries worldwide see AI as a vital utility, comparable to electricity and the Internet.”
The chipmaker anticipates revenues of $45 billion for the second quarter of 2026.
Nvidia’s quarterly reports over the past year reflect explosive growth. However, the company is under increasing pressure from U.S. regulations.
Donald Trump’s announcement in April regarding tightened computer chip export regulations effectively barred Nvidia from selling its primary revenue source, the H20 AI chip, to China.
“H20 products were primarily designed for the Chinese market,” the company’s first quarter revenue report stated. Consequently, Nvidia expects to miss out on $8 billion in revenue for its second quarter.
Despite this setback, Huang expressed optimism about Trump’s intentions to allow companies to export chips with limited capabilities to China.
“The president has a plan and a vision. I trust him,” he noted.
However, Huang cautioned that losing access to China’s potential $50 billion AI market could jeopardize U.S. leadership in the global AI infrastructure race. “China is one of the largest AI markets, serving as a launchpad for global success,” he stated during the revenue call.
“China’s AI will progress with or without U.S. chips,” he remarked. “The issue isn’t whether China has AI—it’s already happening; the real question is if one of the world’s largest AI markets will rely on American chips.”
The company revealed that the recent SEC claims could cost them $5.5 billion. They noted only $4.6 billion in claims in the first quarter tied to H20 excess inventory and purchase obligations. Some materials may also be reused, affecting forecasts.
In an interview with Ben Thompson, Huang described the loss as “deeply painful.” Reports suggest a revenue loss of $15 billion. In the first quarter alone, the company could not ship an additional $2.5 billion in H20 revenue.
“We have never written off so much inventory in history,” Huang remarked. “We’re not just losing $5.5 billion; we’ve also missed out on $15 billion in sales… and potentially… $3 billion in taxes.”
The tightened export regulations pose challenges: a committee within the U.S. Congress indicated that Nvidia is seeking feedback on China’s groundbreaking AI model, especially regarding Deepseek, an AI firm that mirrors products from U.S. AI companies without the same computational power.
The committee’s report alleges that Deepseek “secretly leaked American user data to the Chinese Communist Party, manipulated information to align with CCP propaganda, and trained on materials unlawfully acquired from the company.”
Despite the tightening export restrictions, analysts believe Nvidia has shown remarkable resilience this quarter.
“Amid industry integration and rising competition, geopolitical tensions have created a tougher business landscape. Nevertheless, the company has effectively focused on its operational core,” Investing.com commented.
“We’ve effectively managed supply and demand dynamics within data centers. Thus, the $4.5 billion impact from H20 during the quarter underscores NVIDIA’s ability to adapt to market changes,” they added.
Analysts also speculate that U.S.-China negotiations “might yield positive outcomes for Nvidia,” according to Wedbush analyst Dan Ives.
“Nvidia is the sole chipmaker propelling the AI revolution. This narrative is underscored by their results and Jensen’s optimistic remarks,” Ives stated. “This indicates a significant lead in the broader tech landscape, suggesting the AI revolution is poised for further growth, despite the tariff challenges posed by Trump.”
Though Nvidia’s Chinese operations remain uncertain, analysts note a surge in demand for Nvidia chips in Saudi Arabia and the UAE. The company has benefited from AI opportunities arising from Trump’s visit, which secured $600 million for U.S. businesses.
Nvidia announced plans to sell hundreds of thousands of AI chips to Saudi Arabia, including to a startup supported by the nation’s sovereign wealth fund, employing 18,000 individuals with the latest technology.
Excavation of Mongolia’s medieval wall system by archaeologists
Gideon Shelach-Lavi et al. 2025
Long before the construction of the Great Wall of China, other significant walls were erected on the Eurasian steppes, not with the intent of safeguarding the Mongolian army. Recent diggings indicate that they were established to regulate movement and to showcase power, similar to modern boundary walls.
The Great Wall of China spans thousands of kilometers, with its longest segment measuring approximately 8,850 kilometers. This section originates from the Ming Dynasty (1368-1644 AD) and served as a physical barrier against Mongol incursions.
In contrast to large fortifications, the earlier systems consist of a network of trenches, walls, and enclosures approximately 4,000 km wide across northern China, Mongolia, and Russia.
This infrastructure was developed between the 10th and 12th centuries by various dynasties, primarily the Jin Dynasty (1115-1234 AD). It was primarily constructed by the people of Siberia and the Zurchen from northeastern China, who were herders.
Gideon Shelach-Lavi from The Hebrew University of Jerusalem, along with his team, has utilized satellite imagery and drones to explore and map these ancient walls. They are now investigating a 405 km section excavated in Mongolia, including one of the enclosures.
The structure features a trench about 1 meter deep and 3 meters wide, with the earth piled on one side, forming a compact earth wall that stands 1-2 meters tall. At intervals, a thick square stone enclosure approximately 30 meters wide was added along the wall.
The purpose of these walls is still unclear, as historical records are scarce, and they were not built at natural geographical divides, according to Shelach-Lavi.
Many historians believed they were constructed to thwart Genghis Khan’s army, which reigned over the Mongol Empire from 1206 to 1227. However, Sherach Ravi asserts that these structures would not have been particularly effective for defense. “They were not designed to repel military invasions,” he states.
Instead, he theorizes that the walls were primarily a demonstration of power — showing that the region was under the control of the Jin Dynasty. The walls allowed for the regulation of people through the enclosure gates, managing the flow of people, goods, and animals. He suggests that even though they may not have stopped armies, the walls might have been effective in preventing smaller attacks.
“The objective seems to be guiding individuals towards these enclosures, allowing for control and taxation,” he explains. “It’s all about monitoring movement, which is not so different from what we observe today.”
The findings at the enclosure also illuminate the lifestyle of the inhabitants. “This is a picturesque area,” remarks Sherach Ravi. “We have uncovered extensive evidence of livestock grazing, hunting, and fishing.”
Moreover, within the enclosure, researchers discovered stone platforms or benches that could have served as stoves or beds for the Han Chinese during the Song Dynasty, who were in conflict with the Jin Dynasty.
This suggests that significant resources went into building and maintaining garrisons, indicating that people lived there year-round and engaged in agriculture. “This is remarkable, as even today, farming activities are minimal in this region,” he notes.
Apple’s financial results for the second quarter exceeded Wall Street predictions on Thursday.
The tech leader announced a revenue of $95.4 billion, marking an increase of over 4% compared to last year, with earnings surpassing $1.65 per share, up more than 7%. Analysts had anticipated a revenue of $94.5 billion and a profit of $1.62. The company’s market value stands at $3.2 trillion, consistently surpassing Wall Street forecasts for the last four quarters.
Investors remain focused on Apple’s impending financial disclosures. The tech giant has worked diligently to ease the concerns of anxious analysts following Donald Trump’s extensive tariffs that could disrupt the supply chain for appliances. Since the start of the year, Apple’s stock has decreased by 16%.
During a call with investors on Thursday, CEO Tim Cook indicated that he expects tariffs to escalate expenses by $900 million for the quarter ending in June, provided global tariff rates remain unchanged. Cook declined to make further predictions about the future, stating, “We don’t know what will happen with tariffs… it’s very challenging to predict post-June.”
In after-hours trading, the company’s shares dropped more than 4%, despite last year’s growth, due to tariff impacts and revenues that fell short of Wall Street’s expectations, particularly in its services sector, which includes iCloud subscriptions and various licensing revenues. Sales in China also did not meet estimates.
Nevertheless, the company remains optimistic, stating that it reported “strong post-quarter results” and is “actively engaged in the tariff discussion.”
iPhone manufacturers are heavily reliant on production in China for their mobile phones, tablets, and laptops. Following Trump’s implementation of tariffs that reached over approximately 245%, the president indicated he would allow an exception for household appliances.
During this period, Cook communicated with a senior White House official, as reported by the Washington Post. After these discussions, Trump declared an exemption for appliances. Following this announcement, Apple’s shares increased by 7% in subsequent days.
However, the duration of this exemption remains uncertain. U.S. Secretary of Commerce Howard Lutnick described it as “temporary”, and Trump later stated on social media that there would be no “exceptions”.
The president has consistently expressed a desire to see increased manufacturing in the United States. In February, he and Cook met to discuss investments in U.S. manufacturing. “He’s about to start a building,” Trump remarked after their meeting. “A very significant number – you have to tell him. I believe they’ll announce it soon.”
JPMorgan predicts that relocating production to the U.S. will lead to a substantial increase in prices. In this week’s memo, they noted, “Assuming a 20% tariff on China, we could witness a 30% price hike in the short term.” JPMorgan and other analysts assert that Apple may continue to shift more manufacturing to India, where tariffs are only 10%.
Earlier this month, Apple transported around $2 billion worth of iPhones from India to the U.S. to boost its inventory in anticipation of rising prices due to Trump’s tariffs and panic buying by concerned consumers. Investors are increasingly worried about a drop in iPhone sales in China, the largest smartphone market globally. In its latest revenue report in January, Apple disclosed that iPhone sales in China fell by 11.1% in the first quarter, missing Wall Street revenue expectations.
Cook mentioned during a call with investors that while China remains the primary manufacturing hub for the company, India is expected to produce more iPhones along with Vietnam in the June quarter. “The tariffs currently imposed on Apple are contingent upon the origin of the product,” he noted, emphasizing that tariffs in India and Vietnam are less than those in China.
In the immediate term, analysts suggest that tariff-related disruptions could work in Apple’s favor as consumers rush to buy more products fearing price hikes. “Dipanjangchatterjee, principal analyst at Forester, stated: [consumers] absorb these price increases as they seek out Apple products.
Apple has built its reputation on innovation, but recently, it has leaned more towards diplomatic solutions.
Tim Cook, Apple’s CEO, recently secured a tariff exemption for exporting iPhones manufactured in China. This strategic move allowed Apple to focus on business and maintain a strong position.
It facilitated the company’s launch of new budget-friendly iPhones in February, alongside boosting app and service sales. Apple stated that quarterly profits increased by 4.8% from last year, totaling $24.78 billion. Meanwhile, company sales rose5% to $953.6 billion.
These results surpassed Wall Street Analysts’ expectations of $24.37 billion in profits and $943.5 billion in sales.However, stocks fell by more than 2% in after-hours trading.
Apple’s consistent performance emerged amidst various challenges. Within months, the company faced both internal and external struggles, including setbacks with its highly anticipated artificial intelligence system and the tough tariff policies enforced by the Trump administration on overseas products.
Last month, Apple’s stock took a dive following President Trump’s announcement of a 145% tariff on exports from China, where 80% of iPhones are produced. This measure also affected other countries that manufacture iPads and Macs, such as Vietnam, resulting in a loss of approximately $770 billion in market value over four days.
Wall Street analysts anticipate that Apple may need to raise the iPhone price from $1,000 to $1,600. In response, some customers rushed to purchase iPhones before the potential price hike, leading to a temporary sales boost.
However, three months after donating $1 million to Trump’s inauguration, Tim Cook sought to persuade the White House to ease the tariff restrictions.
Last Thursday, Apple reported that iPhone sales, its primary revenue source, increased by 2% to $46.841 billion compared to the previous quarter. There was over a 10% rise in iPhone sales in Japan, India, and the Middle East, leading Apple to secure the largest share of smartphone sales globally in three months, according to Counterpoint Research.
Nevertheless, the company continues to struggle in China, posting a sales decline for the sixth consecutive quarter, with total revenue from the region at $16 billion, down 2% year-over-year.
“We are eager to see the developments at the company’s high-tech research firm,” said Ben Bajarin, principal analyst at Creative Strategies. “The question remains, what if additional tariffs are implemented?”
The company’s services division, which includes app sales, Apple Music, and Apple Pay, has outperformed device sales, generating $26.65 billion in revenue, reflecting an 11.6% increase from the previous year.
However, the future stability of Apple’s services division is in question. Recently, a federal judge criticized the company’s business practices under antitrust laws, ruling that Apple could not impose a 27% fee on selling apps outside its app store, undermining a key revenue stream.
In another antitrust matter, Apple risks losing the $2 billion in service revenue derived from Google’s payment for being the default search engine on iPhone web browsers. A federal ruling last year determined that Google maintained an illegal search monopoly, with hearings planned to address these activities.
The device division also faces uncertainties. Last year, Apple unveiled a generational AI system aimed at enhancing email, summarizing notifications, and upgrading Siri, its virtual assistant. This system was marketed as a primary reason to purchase a new iPhone. However, in March, the company announced it would be delayed until this fall.
On Wednesday, Meta announced its revenues, exceeding Wall Street’s forecasts for yet another quarter, while simultaneously generating billions with artificial intelligence.
In the first quarter of 2025, Meta reported a revenue of $423.2 billion, surpassing both its own projected high of $41.8 billion and the Wall Street expectation of $413.8 billion.
The company also disclosed earnings per share of $6.43, significantly exceeding Wall Street’s prediction of $5.27, leading to a surge in stock prices after market hours.
“This is a strong start to what is set to be a pivotal year for us. Our community continues to expand, and our business model is performing effectively,” stated Mark Zuckerberg, Meta’s CEO. “We are making notable advancements in AI glasses and Meta AI, with approximately 1 billion active monthly users.”
Zuckerberg conveyed in a discussion with investors that the company is performing well, its platform is expanding, and it is prepared to navigate the prevailing macroeconomic uncertainties.
“We maintain the belief that this year will be crucial in our industry,” he remarked.
This marks a continuation of Meta’s succesful track record in surpassing Wall Street expectations over recent quarters. However, it remains uncertain whether this will alleviate investor apprehensions. Analysts expressed dissatisfaction regarding the company’s first-quarter revenue outlook shared at the end of 2024. The firm plans to allocate between $64 million and $72 billion for capital expenditures, focusing on building AI infrastructure, a revision from the previous estimate of $65 billion. Total expenses for the first quarter had already reached $24.76 billion, marking a 9% year-over-year increase. The unpredictable nature of Donald Trump’s tariffs could still disrupt the advertising market and cloud the company’s financial forecast for the upcoming quarters.
Senior analyst Minda Smiley from eMarketer noted that the company’s “optimistic second quarter guidance indicates a lack of expectation for a significant decline in advertising revenue due to tariffs.” However, she expressed doubt about Meta’s ability to avoid long-term recession effects.
“Conversely, companies may take advantage of economic instability. Advertisers are likely to shift their spending towards established platforms like Facebook and Instagram while avoiding smaller social media networks,” added Smiley. “Nevertheless, a significant portion of Meta’s revenue is relying on advertising from Chinese retailers such as Temu and Shein targeting US consumers, whose spending is decreasing due to changing trade conditions and tariffs.”
Meta’s continued spending also “remains a concern for investors,” according to Debra Aho Williamson, founder and chief analyst at Sonata Insights. “Despite this, Meta has stayed away from directly monetizing AI this year, instead focusing on enhancing AI engagement amongst developers, app users, and advertisers,” remarked Williamson.
In the lead-up to the revenue report, Meta has made headlines with mixed AI-related developments, including the release of a standalone AI application intended to compete with ChatGPT. A WSJ Report highlighted that existing chatbots integrated into various products, such as Facebook and Instagram, have enabled teenagers to engage in “romantic role-plays.” Meta executives have consistently emphasized the approximately 1 billion users of their AI chatbots. However, many of these users access chatbots through complex paths within WhatsApp, Instagram, and Facebook. The company has not disclosed specifics about user interactions with chatbots or the depth of these engagements necessary to classify as AI chatbot users.
Alongside ongoing antitrust trials—where the company faces allegations of establishing an illegal social media monopoly through the acquisition of Instagram and WhatsApp—additional concerns loom for analysts regarding Meta’s financial stability, despite the seemingly positive figures.
“Meta’s revenue announcements arrive during a turbulent period, as the company faces potential changes to its future. As discussed in court, the outcomes could fundamentally reshape the social media landscape,” observed Forrester VP Mike Pulx. “Focusing more resources on enhancing Threads and Facebook might be crucial, as these could be the last remaining platforms of value for the company. Additionally, it’s noteworthy that Meta has significantly reduced its workforce within the Reality Labs division, which is struggling and ongoing.”
Alphabet, Google’s parent company, saw a drop of over 6% following the release of its quarterly results on Tuesday. The company reported revenue of $96.5 billion, slightly below analysts’ expectations of $96.67 billion. While Alphabet exceeded investors’ earnings per share (EPS) expectation of $2.13 by reporting $2.15, the company highlighted a strong fourth quarter led by AI advancements and overall business momentum.
Revenue breakdown included $84 billion from Google Search and services, with $12 billion from YouTube advertising and cloud revenue. Analysts are closely watching Alphabet’s competitive position in AI search and cloud revenues amidst growing competition from players like Chinese DeepSeek and OpenAI.
The company’s deceleration reflects a challenging year for Google, raising concerns about its future competitiveness. Alphabet plans to invest $750 billion in capital spending in the coming year to further develop AI and infrastructure.
Despite ongoing AI development efforts across the industry, Alphabet remains focused on AI innovation with a significant investment plan. The company aims to leverage its AI capabilities for monetization in the coming years.
Concerns about rising AI costs and their impact on Alphabet’s AI advertising strategy have emerged in light of recent developments. Analysts are closely monitoring how these developments will shape Alphabet’s future AI initiatives and competitiveness.
Additionally, Alphabet remains committed to responsible AI development practices, emphasizing the importance of democracy, human rights, and global cooperation in AI leadership. The company reaffirms its commitment to using AI for positive impact and national security.
Legal challenges, including antitrust investigations, pose further uncertainties for Alphabet’s future. The Ministry of Justice’s case against a major search company raises concerns about potential regulatory actions that could affect the tech industry.
In light of geopolitical tensions, particularly with China, Alphabet faces additional challenges as regulatory scrutiny intensifies. China’s response to tariff announcements and antitrust investigations adds to the uncertain outlook for Google.
Apple exceeded analysts’ expectations in the first quarter of the 2025 fiscal year on Thursday. The company’s revenue increased by 4% to $124.3 billion, slightly higher than the projected $124.2 billion. Earnings per share were $2.40, beating the forecast of $2.35.
Following CEO Tim Cook’s announcement of the revenue, Apple’s shares surged by more than 8% in after-hours trading as the company is on track for revenue growth next year.
Investors expressed concerns about declining iPhone sales in China, the world’s largest smartphone market, with domestic competitors like HUAWEI gaining ground. Apple confirmed this on Thursday, reporting an 11.1% drop in iPhone sales in China, missing Wall Street’s revenue expectations.
During the earnings call, Cook mentioned Apple’s active device base of 2.35 billion.
Despite the mixed reviews, Cook hailed it as the company’s “best quarter” with a 4% profit increase. Cook highlighted the introduction of Apple Intelligence, which debuted for English-speaking iPhone users in late October. The AI feature has seen strong sales and impacted numbers positively, including in China.
Investors have closely monitored Apple’s progress in AI, which has been slower compared to competitors and has garnered a range of reviews. Despite initial anticipation, the technology has been criticized for inaccuracies and glitches.
During the earnings call, Cook assured analysts that AI technology would become mainstream. Apple Intelligence is currently exclusive to new devices in a limited number of countries, and adoption has been gradual. Cook emphasized the transformative nature of the feature once users experience it.
Apple’s earnings report came amidst a challenging week for high-tech stocks in the US. Following the presence of a Chinese AI company’s app on Apple’s App Store, several tech companies experienced declines. Despite initial setbacks, recoveries were observed in subsequent trading days.
Apple seems to be shielded from the recent stock market turbulence, with its stock rising earlier in the week. Analysts believe Apple’s focus on integrating AI into its products enables cost efficiency compared to developing cutting-edge models.
Despite initial struggles in 2025, Apple’s stock had dropped by about 8% in the first three weeks of the year, primarily due to concerns about declining smartphone sales in China.
Apple Intelligence had faced glitches and generated inaccurate push notifications. In response to feedback, Apple ceased the feature earlier this month. A recent iOS update now explicitly states when notifications are AI-generated.
Archaeologists have discovered a 2.7-kilometer (1.7-mile) long Roman defensive wall and moat in the southern Italian region of Calabria that was originally built by Roman general Marcus Licinius Crassus to contain Spartacus, a Thracian gladiator and leader of a slave revolt, and his forces.
A 2,070-year-old Roman wall in the Dossone della Meria Forest in south-central Calabria, Italy. Image courtesy of the University of Kentucky.
Spartacus He was a Thracian gladiator who became one of the most famous leaders of a major slave revolt against the Roman Republic known as the Third Servile War (73-71 BC).
Born around 103 BC in what is now Bulgaria, he initially served in the Roman army before being captured and sold into slavery.
In 73 BC, Spartacus and about 70 fellow gladiators Run away They escaped from the gladiator training school in Capua and took refuge on Mount Vesuvius, where they were soon joined by other fugitive slaves.
Spartacus proved to be a skilled leader and tactician, defeating the Roman armies multiple times. Military expansion to an estimated 70,000 slaves and others.
He was not the only leader of the rebellion: two other fugitive gladiators, Crixus and Oenomaus, formed the remaining two factions of the Slave Triumvirate.
This rebellion posed a great threat to Rome, and the Senate sent several legions to put it down.
Despite initial success, Spartacus and his forces were eventually cornered by the Roman general Marcus Licinius Crassus.
In 71 BC, Spartacus' forces were defeated in a final battle in Lucania and he was killed, although his body was never found.
Although the Spartacus rebellion was not intended to be a social revolution, it has served as an inspiration to many throughout history as a symbol of resistance against oppression.
“We believe that Spartacus attacked the newly discovered wall to escape a trap set by Crassus,” said archaeologist Paolo Visona of the University of Kentucky.
The Dossone della Meria forest in south-central Calabria, Italy, is home to 2.7 km of ancient stone walls and earthworks.
Archaeologists also unearthed numerous broken iron weapons, including sword hilts, large curved blades, spear tips, spearheads and other metal fragments.
“The discovery was made possible thanks to a tip-off from local environmental groups who knew the wall existed but had no idea what it was,” Prof Visonagh said.
“We surveyed the walls and trenches using ground-penetrating radar, LIDAR, magnetic measurements and soil core sampling.”
Nvidia, the chipmaker, revealed its latest financial statements on Wednesday, with revenue reaching $30.04 billion in the last three months. This is a significant increase of 122% compared to the previous year, indicating sustained growth in their artificial intelligence investments.
Despite analysts’ projections of $28.7 billion in sales, the company’s shares dropped more than 3% in after-hours trading.
Nvidia’s founder and CEO, Jensen Huang, announced plans to ship a greater number of chips and hardware next year than in the company’s 31-year history during an earnings call.
Huang highlighted the importance of fast development due to the increasing complexity of their models. He stated that the company aims to lower costs while scaling AI models to unprecedented levels for the next industrial revolution.
Analysts, while optimistic about the results, acknowledged signs that Nvidia’s exceptional revenue growth might be slowing down. Major tech companies’ aggressive AI investments are driving demand for Nvidia chips, but these companies are also investing in their own silicon development.
The company informed customers about a delay in the launch of their next-generation AI chip, known as Blackwell. Early samples have already been sent to a limited number of customers. Despite this, the current graphics processing unit, Hopper, continues to sell well according to CEO Jensen Huang.
Nvidia reported record revenue with a 154% increase in data center revenue year over year, amounting to $26.3 billion, reflecting the demand for accelerated computing and generative AI in data centers globally.
Nvidia’s earnings results hold great significance on Wall Street, as the company accounts for 6% of the total value of the S&P 500 and is the third-largest company globally with a market capitalization of $3.1 trillion.
Recent reports from major tech customers such as Microsoft, Amazon, Meta, and Google, show increased capital spending as they utilize Nvidia chips to develop and train their AI models.
The company’s earnings per share were $0.68, and they announced a $50 billion share repurchase. Profit is expected to rise to $15.1 billion, up from approximately $6.2 billion in the same period last year.
Ives, a Wedbush analyst, emphasized the importance of Nvidia’s earnings report on the stock market, estimating that every dollar spent on Nvidia’s GPU chips contributes $8 to $10 to profits across the tech sector.
The market’s focus on Nvidia’s performance stems from the belief that AI advancements will boost global productivity for years to come.
Comparisons to the Internet bubble of the late 1990s have emerged, with concerns that the AI boom might peak if Nvidia’s results disappoint investors.
Regulators are closely monitoring Nvidia, following an antitrust investigation launched by the Department of Justice after allegations from rival chipmakers. The investigation claims Nvidia is using its market power to monopolize markets and compel customers to continue buying its products.
A wall with a zigzag pattern can stay up to 3°C (5.4°F) cooler than a normal wall, without using any energy. This approach reduces the energy used by cooling systems and helps to curb global warming.
“Such designs can lead to cooler buildings,” says Qilong Cheng of Columbia University in New York, “and therefore reduce the energy consumption for cooling.”
As global temperatures rise and more people can afford air conditioners, their use is skyrocketing. Greenhouse gas emissions from cooling could increase more than threefold by 2050. As a result, many teams are working to develop passive cooling solutions that don't require any energy.
For example, simply painting roofs white can help keep buildings and cities cooler by allowing them to reflect more sunlight.
This method works even better if the roof is coated with a material that reflects most of the sunlight but emits infrared light within the transparency of the atmosphere — a range of wavelengths that aren't absorbed by atmospheric molecules such as carbon dioxide.
“Infrared light in this band can pass through the atmosphere and potentially reach space,” Chen said.
Materials with these properties have a great cooling effect on an upward-facing roof, but are less effective on walls. The problem is that materials that emit infrared light tend to absorb it, and surfaces close to walls, such as concrete pavements, can emit large amounts of infrared light.
The solution proposed by Chen and his team is to create a wall that has a series of projections that run parallel to the ground, forming a zigzag shape when viewed from the side. To visualize this, think of a staircase sloping upward at angles between 45 and 90 degrees.
The key is that the upward-facing zigzag surfaces (the treads in the staircase analogy) are atmospheric transparency windows that radiate large amounts of heat, while the downward-facing, outward-facing zigzag surfaces (the risers) reflect infrared heat rather than absorbing it.
To test the idea, the team built a 1-metre-tall model with both a zigzag and flat surface.When they placed it outside in New Jersey during the summer, the zigzag surface was 2°C cooler than the flat surface over a 24-hour average, and 3°C cooler between 1pm and 2pm.
Chen says there are plenty of inexpensive materials with the necessary properties. Existing buildings could be retrofitted by adding corrugated panels. The cooling effect inside a building varies depending on other factors, such as the size of the building's windows, but simulations suggest it could reduce temperatures by up to 2°C and cut the energy needed for cooling by up to a quarter.
The zigzag cooling wall is only suitable for hot climates, as colder regions would need more heating in winter. But Chen and his colleagues say They proposed a design with hinged “fins.” It can be raised in the winter to increase heat absorption and lowered in the summer to minimize heat absorption.
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