Breakfast News: Super-Sized Chip Demand

• "Together we're going to build Japan's largest AI factory": CEO Jensen Huang revealed the plan at the Nvidia AI Summit Japan, with generative AI development one of the new computer's goals.
• No delays: Despite fears that Blackwell chips might not reach the market until into next year, Huang says we'll see billions of dollars worth in Q4 this year.

Oil analysts predict a bearish year ahead for crude, suggesting it could fall to $40 a barrel, or even lower, if OPEC+ fully unwinds its current output cuts.

• "There is more fear about 2025′s oil prices than since the Arab Spring": Tom Kloza of OPIS says we could "get down to $30 or $40 a barrel" if the group doesn't have plans to control production.
• Slow and steady: Most observers expect the oil cartel to gradually unwind its cuts rather than doing anything too drastic.

• Double-digit beats: Excluding Shopify's divested logistics business, revenue has grown by at least 25% for six quarters in a row. Free cash flow in Q3 jumped 53%.
• A fourth consecutive quarter of operating profitability: Fool analyst Yasser El-Shimy highlighted how "Gross Merchandise Volume's persistently robust growth is attributable to merchant sales growing over time, and merchants signing up for more Shopify products and subscriptions."

• Core inflation stubborn: Costs of essentials like housing and medical care mean core CPI is resisting the Federal Reserve's efforts.
• "The last mile of inflation's journey back to target will be the hardest": Jay Bryson at Wells Fargo (WFC -0.03%) believes the battle to reach 2% is not won yet.

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