Welcome to the TechMeme Right Home for Thursday, May 29th, 2025. I'm Brian McCullough today.

NVIDIA has solid earnings, though they're quite concerned about being boxed out of China.

The apparent hack of Victoria's Secret gave me a dad-joke title for today's episode.

Why Deep Seek's recent R1 update is a bigger deal than even they are letting on,

and why the CEO of Anthropic says we should be more worried about the AI he's unleashing

than people are currently.

Here's what you miss today in the world of tech.

At the time of this writing,

Nvidia is back to being the most valuable company in the world.

That comes after Nvidia reported Q1 revenue was up 69% year over year to $44.06 billion

above the $43.31 billion that was estimated. Their data center revenue was up

73% to $39.1 billion, and their net income was up 26% to $18.78 billion. Quoting CNBC.

Invidia says it expects about $45 billion in sales in the current quarter versus LSEG estimates of

$45.9 billion in sales in the July quarter. The company said its guidance would have been about

$8 billion higher except for lost sales from a recent export restriction on its China-bound H-20 chips.

During the quarter, the U.S. government informed NVIDIA that its previously approved H-20

processor for China would require an export license.

NVIDIA said it incurred $4.5 billion in charges related to excess inventory for the chip

and would have recorded $2.5 billion in extra sales if the chip hadn't been restricted.

NVIDIA said its gross

margin of 61% for the quarter would have been 71.3% if not for the China-related charge.

NVIDIA CEO Jensen Huang told investors on an earnings call that the $50 billion market in China

...