It’s not just federal workers experiencing layoffs
Marketplace Morning Report
Marketplace
4.5 • 927 Ratings
🗓️ 27 February 2025
⏱️ 7 minutes
🧾️ Download transcript
Summary
Job cuts appear to be picking up in the private sector, too. Over the last two months, companies including Chevron, Meta, Starbucks and Southwest Airlines have all laid off 1.000 employees or more. While unemployment remains low, more layoffs could be on the way. Plus, bosses at Nvidia think there’s still plenty of room for business to grow, and an immigrant day laborer reflects on volunteering to help clear debris after the LA fires.
Transcript
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| 0:00.0 | The AI world, according to NVIDIA. |
| 0:05.0 | I'm David Brancaccio. Invidia is a key company at the heart of this emerging artificial intelligence revolution. |
| 0:10.9 | It made microprocessors for computer gaming that turned out to be great to grind out AI. |
| 0:17.0 | Its quarterly results are in, the first that reflect the realization that Deep Seek of China had come up with a workable AI system that uses a lot fewer microchips. But Invidia is insisting there's still plenty of room for its business to grow. Marketplace's Nova Saffo reports. |
| 0:33.8 | Nvidia is forecasting that its sales will increase in the next quarter to about $43 billion. |
| 0:39.3 | The company also has profit margins of more than 70%, although it expects them to narrow slightly, |
| 0:45.3 | as it spends more to produce its new advanced chips called Blackwell. |
| 0:49.5 | Those chips are selling briskly, despite China showing AI efficiency advancements through a model called |
| 0:55.1 | Deep Seek. That's because more advanced AI systems are coming, and they'll need computing power. |
| 1:00.8 | Still, the news about profit margins and profit and sales numbers that were not as stellar as previous |
| 1:05.5 | results left investors somewhat lukewarm. That's because NvidiaVIDIA has set a huge standard for itself. |
| 1:12.0 | A primary beneficiary of the AI boom, its shares |
| 1:14.5 | have risen nearly 2,000% in five years. |
| 1:17.9 | Its stock price took a tumble after DeepSeek came |
| 1:20.6 | out and has yet to recover to its previous high. |
| 1:23.8 | I'm Navasophe for Marketplace. |
| 1:25.8 | In pre-market trading now, |
| 1:27.6 | Nvidia's stock is up some 9 tenths of a percent. |
| 1:30.7 | Rival ASML of the Netherlands is down 2 tenths percent. |
| 1:34.4 | Intel up more than 1 percent now at pre-market. |
| 1:37.5 | Dow and NASDAQ futures are up 6 tenths of a percent. |
| 1:41.2 | S&P futures up 3 tenths percent. |
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