TechCrunch : Huang and Zuckerberg swapped jackets at SIGGRAPH 2024 and things go

Huang and Zuckerberg swapped jackets at SIGGRAPH 2024 and things got weird

Image Credits: Meta
A fireside chat on Monday between Nvidia CEO Jensen Huang and Meta CEO Mark Zuckerberg at the SIGGRAPH 2024 conference in Colorado took a few unexpected turns.
It started innocently enough, with Huang waxing positive about the capabilities of Nvidia GPUs and Zuckerberg speaking about his vision of an AI chatbot future. But by the end, Huang and Zuckerberg were swapping custom-made jackets — a throwback to the viral meme from earlier in the year.

“It’s black and leather and shearling,” Zuckerberg said, describing the coat he brought for Huang. “It’s a vibe. I mean, get this guy a chain.”
Image Credits: Nvidia
Huang gave Zuckerberg a new leather jacket that he said his wife, Lori, bought him to commemorate this year’s SIGGRAPH. He’d been wearing it for the past two hours.
“This is worth more because it’s used,” Zuckerberg said.
Other surprise highlights in the hour-long exchange included references to the cows Zuckerberg’s raising on his ranch in Hawaii, an F-bomb drop and Zuckerberg’s style makeover. (Zuckerberg described it as “early stage.”) Huang didn’t hold back when it came to roasting Zuckerberg — a privilege of Meta’s dependency on Nvidia for model-training hardware, perhaps.
“He needs an AI that doesn’t judge,” Huang said.

At one point Huang gave an anecdote about Zuckerberg’s tomato slicing habits. While cooking cheesesteak sandwiches together at Huang’s house, Zuckerberg was assigned the job of cutting the tomatoes, Huang recounted.

“And so, Mark, I handed him a knife,” Huang said, “and he cuts the tomatoes. Every single one of them are perfectly sliced, to the exact millimeter. But the really interesting thing is, I was expecting all the tomatoes to be sliced and kind of stacked up, kind of like a deck of cards. But but when I turned around, he said he needed another another plate. And the reason for that was because all of the tomatoes he cut, none of them touched each other. Once he separates one slice of tomato from the other tomato, they shall not touch again.”
Huang playfully chastised Zuckerberg about wanting second helpings of cheesesteak at the dinner. “Make me another cheesesteak, Jensen,” Zuckerberg retorted.
But the interview wrapped up on a more complimentary note. Huang complimented Zuckerberg’s figure.
“I think Mark is pretty buff,” he said. “Look, the guy’s pretty jacked.”
Zuckerberg, wrapping his arms around Jensen, returned the praise. “You too, man.”

>>> Europe : Brokers Upgrades & Downgrades - 30th of July 2024 V2(+)

>>> Up
* ASML Raised to Overweight at Barclays; PT 1,150 euros
* Atea Raised to Buy at Arctic Securities; PT 160 kroner
* BE Semiconductor Raised to Hold at Bank Degroof Petercam (+)
* Citigroup PT Raised to $79 from $66 at Morgan Stanley
* Clariant Raised to Buy at Stifel; PT 16.20 Swiss francs (+)
* ConvaTec Raised to Buy at Investec; PT 307 pence (+)
* Ekinops SAS Raised to Buy at Gilbert Dupont; PT 4.30 euros (+)
* Eni Raised to Buy at HSBC; PT 16.50 euros
* Euronext PT Raised to 117 euros from 113 euros at Morgan Stanley
* Goldman Sachs PT Raised to $561 from $513 at Morgan Stanley
* Hexagon Raised to Accumulate at Inderes; PT 115 kronor
* Knorr-Bremse Raised to Hold at Hauck & Aufhaeuser (+)
* Novavis Group Raised to Buy at Erste Group; PT 3.29 zloty
* Royal Caribbean PT Raised to $180 from $160 at Susquehanna
* Salmar Raised to Buy at SEB Equities; PT 673 kroner
* Sandoz Group PT Raised to 46 Swiss francs at Intron Health (+)
* SGS PT Raised to 106 Swiss francs from 93 Swiss francs at Citi
* SMCP Raised to Outperform at Oddo BHF; PT 5.60 euros
* UCB PT Raised to 200 euros from 150 euros at Deutsche Bank (+)
* Virbac Raised to Buy at TP ICAP Midcap; PT 389 euros (+)
* Volution PT Raised to 600 pence from 510 pence at Jefferies

>>> Down
* Abbott Cut to Hold at Edward Jones
* Basic-Fit Cut to Hold at Berenberg; PT 26 euros
* DBT SACA Cut to Speculative Buy at Greensome Finance (+)
* Howden Joinery Cut to Sector Perform at RBC; PT 980 pence
* ING Cut to Market Perform at KBW; PT 18.50 euros
* Man Group Cut to Hold at Deutsche Bank
* Meier Tobler Cut to Hold at Research Partners (+)
* Novavax Cut to Underweight at JPMorgan; PT $8
* Oxford Nanopore Cut to Sell at Stifel; PT 100 pence (+)
* Piaggio Cut to Accumulate at Banca Akros (ESN) (+)
* SThree Cut to Hold at HSBC; PT 445 pence
* Vocento Cut to Underperform at Grupo Santander; PT 75 euro cents (+)
* XSpray Pharma Cut to Hold at Pareto Securities; PT 58 kronor

>>> Initiation
* Andfjord Salmon Group Reinstated Buy at Arctic Securities
* Dialight Rated New Hold at Investec; PT 210 pence (+)
* Givaudan Rated New Neutral at Oddo BHF; PT 4,200 Swiss francs (+)
* Sartorius Rated New Underperform at Bernstein
* Sartorius Stedim Rated New Underperform at Bernstein

>>> Call
* Basic-Fit Cut at Berenberg, Risks Balanced Over Short Term
* Flutter Gets Positive Catalyst Watch at Citi Ahead of Results
* Hedge Funds Selling Industrials at a Record Pace, Goldman Says
* Man Group Downgraded on Weakening Performance: Deutsche Bank (+)
* SMCP Upgraded at Oddo BHF, May Be Light at End of the Tunnel
* Yen Has Scope to Rally to 145/$ on a BOJ ‘Hawkish Pivot’: BofA

>>> Stoxx 600 Pre-Market Indications

  • Fuchs SE (FPE3 TH) +3.7%
    • FUCHS SE 1H Revenue Meets Estimates
  • DSM-Firmenich (ZX6 TH) +2.8%
    • DSM-Firmenich FY Adjusted Ebitda Forecast Beats Estimates
  • Heineken Holding (4H5 TH) +1.9%
  • Reckitt (3RB TH) +1.8%
  • ASML (ASME TH) +1.2%
    • ASML Raised to Overweight at Barclays; PT 1,150 euros
  • BP (BPE5 TH) +1.2%
    • BP Keeps Buyback Steady, Raises Dividend as Profit Stabilizes
  • HSBC (HBC1 TH) +1%
    • StanChart Surprises With 2Q Beat, Record Buyback: Street Wrap
  • Sartorius (SRT3 TH) -1.1%
  • Aurubis (NDA TH) -1.1%
  • Philips (PHI1 TH) -1.2%
  • Ryanair (RY4C TH) -1.5%
  • AstraZeneca (ZEG TH) -1.7%
  • Mowi (PND TH) -1.9%
  • Fresenius Medical Care (FME TH) -2.1%
    • Fresenius Medical Care 2Q Operating Income Beats Estimates
  • Covestro (1COV TH) -2.4%
    • Covestro Narrows FY Ebitda Forecast
  • Heidelberg Materials (HEI TH) -2.9%
    • Heidelberg Materials 2Q Revenue Meets Estimates

>>> TradeGate Pre-Market Indications

DAX:
  • Covestro (1COV TH) -2.4%
    • Covestro Narrows FY Ebitda Forecast
  • Heidelberg Materials (HEI TH) -3.4%
    • Heidelberg Materials 2Q Revenue Meets Estimates
MDAX:
  • FUCHS SE (FPE3 TH) +4.5%
    • FUCHS SE 1H Revenue Meets Estimates
  • Redcare Pharmacy NV (RDC TH) -1%
    • Redcare Pharmacy NV 2Q Revenue Meets Estimates
  • Aurubis (NDA TH) -1.1%
  • Fresenius Medical Care (FME TH) -1.3%
    • Fresenius Medical Care 2Q Operating Income Beats Estimates
SDAX:
  • Heidelberger Druck (HDD TH) +1.1%
  • Schaeffler (SHA TH) +1%
  • BayWa (BYW6 TH) -1.8%

>>> What to look at today - 30th of July 2024

Asian stocks fell amid speculation investors are trimming some of their holdings before a rush of events in coming days including major central bank decisions, key economic data and earnings from US megacap companies. The MSCI Asia Pacific Index extended July’s decline to 0.5%, set for its first monthly drop since April. Shares in Hong Kong led losses Tuesday, falling more than 1%, as optimism waned over the Chinese government’s stimulus plans. Australian and Japanese stocks also slipped, and US equity futures inched lower. The yen held near the strongest level in 12 weeks before a Bank of Japan policy decision on Wednesday. The dollar crept higher against most of its major peers as traders positioned for a Federal Reserve review the same day. Treasuries were little changed, heading for a third month of gains.  BOJ Governor Kazuo Ueda will have investors on high alert Wednesday when he lays out a detailed plan for quantitative tightening after years of massive easing. He may also double down by adding an interest-rate hike. The central bank is looking for evidence sustained increases in wages will spur a recovery in consumption and kindle demand-led price growth, allowing authorities to further normalize monetary policy. China’s bonds advanced, with 10-year yields dropping to another record low. The rally in the securities is seen testing the patience of the central bank, which is walking a tightrope between boosting growth with easing measures and reining in potential financial shocks from an overheated bond market.  Investors are also on the lookout for the outcome of a Chinese Politburo meeting — possibly some time this week — for any guidance on potential stimulus measures. Still, sentiment remains bearish after efforts to help growth this year failed to reverse a property downturn and revive subdued consumer demand. The S&P 500 closed a fraction higher Monday with a gauge of the “Magnificent Seven” megacaps rising 1%. The Russell 2000 of smaller firms fell 1.1%. Tesla Inc. jumped on a bullish Morgan Stanley call. McDonald’s Corp. investors shrugged off a sales drop as executives pledged to launch new promotions.  US policymakers, who’ve kept rates at a more than two-decade high for a full year, are widely expected to leave them there again on Wednesday. But investors see officials signaling a move in September as risks grow of imperiling a solid, but moderating job market.  July’s wild ride in stocks has underscored how betting on seven large tech companies is no longer a simple, slam-dunk trade. During most of the month, investors jumped into other corners of the market on speculation Fed cuts will further boost Corporate America. Still, the S&P 500 ended up suffering two straight weeks of losses, dragged down by its most-influential group - technology. In corporate news, BHP Group Ltd. has teamed up with Lundin Mining Corp. to buy Filo Corp., gaining access to South American copper projects. Commodities have erased all of their gains this year as a challenging outlook in China, combined with a selloff in US natural gas and losses in foodstuffs, have weighed on raw materials. Gold edged lower for a second day as the dollar steadied. US After Hours FFIV +14%, SFM +14% among big gainers following earnings; SYM -17.3%, LSCC -11.5% turning significantly lower on quarterly numbers

Nikkei -0.07% Hang Seng -1.40% CSI -1.08% Shanghai -0.65% Shenzen -0.50%

Eur$ 1.0820 CNH 7.2735 CNY 7.2617 JPY 154.75 GBP 1.2848 CHF 0.8873 RUB 86.4111 TRY 33.0708 WTI$ 75.50 Gold 2,388 BTC 66,500 -1.5% ETH 3,310

S&P -0.03% Nasdaq -0.06% EuroStoxx +0.21% FTSE -0.09% Dax +0.10% SMI +0.26%

Macro :
- France’s Economic Growth Beats Forecasts in Boost for Euro Area
- Crypto Stocks Slump With Bitcoin, Reversing Trump-Fueled Rally
- Chinese EVs Seize Record 11% Share in Europe Ahead of Tariffs
- UK Housing Market Signaling Revival as Deals Jump, Zoopla Says
- Yen Has Scope to Rally to 145/$ on a BOJ ‘Hawkish Pivot’: BofA
- Hedge Funds Selling Industrials at a Record Pace, Goldman Says
- Airline Industry Gets Win After Court Stalls Fee Disclosure Rule
- BOJ May Matter More Than Fed After Yen’s Wild Ride: Macro View
- US IPO Market to Slow After Lineage, With Quiet Summer Ahead
- IMF Agrees to $3.4 Billion Funding Program for Ethiopia

Keep an eye on :
- ANA SM : Acciona 1H Net Income Beats Estimates
- ANE SM : Acciona Energia 1H Ebit Beats Estimates
- AC FP : Olympic Fever Drives Surge of Chinese, Japanese Fans in Paris
- ADBE US : Canva to Buy AI Startup in Second Deal This Year to Catch Adobe
- ALLFG NA : Allfunds 1H Adjusted Ebitda EU210.3M Vs. EU171.8M Y/y
- Armani : Armani Group 2023 Revenue at €2.45b, +6% at Const. Exch. Rates
- AMKR US : *AMKOR SHARES FALL 6% POSTMARKET AFTER PROVIDING 3Q REV FORECAST
- AVOL SW : Avolta AG 1H Sales Matches Estimates
- BAC US : Buffett Cuts BofA Stake Again, Unloading $3 Billion This Month
- BYON US : Beyond Inc 2Q Adjusted Loss per Share 76C, Est. Loss/Shr 85C --> +17% In After Hours
- BHP AU : BHP to Get Access to South America Copper in $3 Billion Deal
- BP/ LN : BP 2Q Adjusted Ebit Misses Estimates
- ALCLS FP : Cellectis Granted FDA Orphan Drug Status for Alemtuzumab
- CHK US : Chesapeake Energy 2Q Adjusted EPS Beats Estimates
- CLN SW : Clariant 1H Adjusted Ebitda Meets Estimates
- COR PL : Corticeira Amorim 1H Net Income Falls 29% to EU36.5m Y/y
- 1COV GY : Covestro Narrows FY Ebitda Forecast
- CRDA LN : Croda 1H Consumer Care Sales Misses Estimates
- CTT PL : CTT 1H Net Income EU19.8M Vs. EU26M Y/y
- DSFIR NA : DSM-Firmenich FY Adjusted Ebitda Forecast Beats Estimates
- EBOX LN : Brookfield’s Deadline for Tritax EuroBox Offer Now Aug. 26
- EMEIS FP : Emeis to Buy 8 Buildings That It Had Leased for EU185 Million
- FAE SM : Faes Farma 1H Net Income EU58.4M Vs. EU53M Y/y
- FFIV US : F5 SHARES JUMP 15% POSTMARKET AS 4Q ADJ. EPS VIEW TOPS ESTIMATE
- FORTUM FH : Fortum Seeks to Sell India Renewable, EV Charging Stakes: Mint
- FRAS LN : Frasers Raises Voting Rights in Boohoo From 24.05% to 25.02%
- FME GY : Fresenius Medical’s Cost Cuts Help Results Beat Estimates
- FPE GY : FUCHS SE 1H Revenue Meets Estimates
- GALD SW : Galderma’s Relfydess Gets Positive Decision for Use in Europe
- GLEN LN : Glencore 1H Own-Source Copper Production Beats Estimates
- GRF SM : Grifols Gets Expanded Xembify Label For Treatment Naive
- HEI GY : Heidelberg Materials 2Q Revenue Meets Estimates
- HLAN US : German American to Buy Heartland Banccorp
- HOLX US : HOLOGIC SHARES DROP 8.3% AS 4Q REVENUE FORECAST MISSES ESTIMATE
- NK FP : Imerys 2Q Revenue Beats Estimates
- INA PL : Inapa Submits Initial Insolvency Petition to Court in Lisbon
- IDR SM : Indra Boosts FY Ebit Forecast
- INTRUM SS : Intrum to Extend Early-Bird Consent Fee for Bondholder Talks
- IPCO SS : IPC 2Q Revenue Misses Estimates
- IRE IM : Iren’s Board Starts Examining Audits Tied to Signorini’s Role
- KARN SW : Kardex 1H Revenue Beats Estimates (1)
- LSCC US : Lattice Semi 3Q Revenue Forecast Misses Estimates --> -8% In After Hours
- LTMC IM : Lottomatica 1H Adjusted Ebitda Meets Estimates, Lottomatica Lifts Guidance; Co. Refinanced Notes
- MUSTI FH : Musti Group 3Q Operating Profit EU1.74M
- NOVN SW : Novartis Scemblix Gets FDA Priority Review for CML
- OCDO LN : Ocado Launches Offering of £350m of 2029 Senior Unsecured Notes
- OHLA SM : OHLA Reports €35 Million Loss, Aims Capital Increase End of Year
- ON US : --> +12% In After Hours
- PSH NA : Baupost Opts Out of IPO for Bill Ackman’s Pershing Square Fund
- PST IM : Poste Italiane Boosts FY Ebit Forecast, Beats Estimates
- RBI AV : Raiffeisen 2Q Net Income Beats Estimates
- RDC GY : Redcare Pharmacy NV 2Q Revenue Meets Estimates
- RXL FP : Rexel 1H Adjusted Ebita Misses Estimates
- RIO LN : Rio Tinto’s Copper Output, Capital Expenditure in Focus: Preview
- ROG SW : Roche’s Vabysmo Gets EU Approval for Retinal Vein Occlusion
- SCYR SM : Sacyr Hires Santander, Deutsche Bank to Find Partner: Reuters
- 005930 KS : Samsung Begins Closing Gap in Making AI Memory Chips for Nvidia
- SCR FP : Scor 2Q Net Loss EU308M, Est. Loss EU207M
- SIGN SW : SIG Group Cuts FY Adjusted Ebitda Margin Forecast
- SIKA SW : Sika 1H Ebitda Beats Estimates
- STAN LN : Standard Chartered 2Q Adjusted Pretax Profit Beats Estimates
- STLA US : Chinese EVs Seize Record 11% Share in Europe Ahead of Tariffs
- TSLA US : Tesla Analyst Nearly Crashes While Testing ‘Full Self-Driving’
- UNI SM : Unicaja 2Q Net Income Misses Estimates
- VWS DC : Vestas Secures 795 MW Order for Oranjewind Offshore Wind Farm
- VFS US : VinFast to Restate 2023, 1Q Results Due to Accounting Issues
- VOW GY : Chinese EVs Seize Record 11% Share in Europe Ahead of Tariffs
- WBD US : Warner Bros Discovery in talks with UK streamers over HBO programmes
- WEIR LN : Weir 1H Adjusted Pretax Profit Beats Estimates
- WPP LN : WPP Set to Pick Former BT Chief Philip Jansen as New Chair: FT

>>> Europe : Brokers Upgrades & Downgrades - 30th of July 2024

>>> Up
* ASML Raised to Overweight at Barclays; PT 1,150 euros
* Atea Raised to Buy at Arctic Securities; PT 160 kroner
* Citigroup PT Raised to $79 from $66 at Morgan Stanley
* Eni Raised to Buy at HSBC; PT 16.50 euros
* Euronext PT Raised to 117 euros from 113 euros at Morgan Stanley
* Goldman Sachs PT Raised to $561 from $513 at Morgan Stanley
* Hexagon Raised to Accumulate at Inderes; PT 115 kronor
* Novavis Group Raised to Buy at Erste Group; PT 3.29 zloty
* Royal Caribbean PT Raised to $180 from $160 at Susquehanna
* Salmar Raised to Buy at SEB Equities; PT 673 kroner
* SGS PT Raised to 106 Swiss francs from 93 Swiss francs at Citi
* SMCP Raised to Outperform at Oddo BHF; PT 5.60 euros
* Volution PT Raised to 600 pence from 510 pence at Jefferies

>>> Down
* Abbott Cut to Hold at Edward Jones
* Basic-Fit Cut to Hold at Berenberg; PT 26 euros
* Howden Joinery Cut to Sector Perform at RBC; PT 980 pence
* ING Cut to Market Perform at KBW; PT 18.50 euros
* Man Group Cut to Hold at Deutsche Bank
* Novavax Cut to Underweight at JPMorgan; PT $8
* SThree Cut to Hold at HSBC; PT 445 pence
* XSpray Pharma Cut to Hold at Pareto Securities; PT 58 kronor

>>> Initiation
* Andfjord Salmon Group Reinstated Buy at Arctic Securities
* Sartorius Rated New Underperform at Bernstein
* Sartorius Stedim Rated New Underperform at Bernstein

>>> Call
* Basic-Fit Cut at Berenberg, Risks Balanced Over Short Term
* Flutter Gets Positive Catalyst Watch at Citi Ahead of Results
* Hedge Funds Selling Industrials at a Record Pace, Goldman Says
* SMCP Upgraded at Oddo BHF, May Be Light at End of the Tunnel
* Yen Has Scope to Rally to 145/$ on a BOJ ‘Hawkish Pivot’: BofA

>>> US After Hours Summary: FFIV +14%, SFM +14% among big gainers following earn

After Hours Summary: FFIV +14%, SFM +14% among big gainers following earnings; SYM -17.3%, LSCC -11.5% turning significantly lower on quarterly numbers

After Hours Gainers:

Companies trading higher in after hours in reaction to earnings/guidance: FFIV +14%, SFM +14%, HLIT +10.8%, TLRY +9.8%, VRNS +9.1%, BYON +8.3%, CORT +5.3%, EQR +1.7%, NEO +1.1%, CVI +0.7%, PCH +0.4%, WELL +0.2%, FLS +0.2%, ESI +0.1%

Companies trading higher in after hours in reaction to news: VSTM +4.7% (FDA orphan drug designation for avutometinib and defactinib), PH +2.2% (to divest North America Composites and Fuel Containment Division), SD +1.5% (to acquire assets in Western Anadarko basin for $144 mln), LDOS +1.1% (awarded $823 mln contract from Defense Information Systems Agency), IBP +0.1% (acquires Euroview Enterprises), HESM +0.1% (increases dividend)

After Hours Losers:

Companies trading lower in after hours in reaction to earnings/guidance: SYM -17.3%, LSCC -11.5%, RMBS -9.6% (also expands memory interface chip offering), WWD -8.8%, HOLX -8.3%, AMKR -7.4%, SANM -6.9%, SBAC -3.9%, SAFE -2.6%, CWK -2%, BRX -1.4%, CR -1%, TRNS -0.9%, CHK -0.7%, ST -0.4%, NTST -0.2% (increases dividend), LTC -0.1%

Companies trading lower in after hours in reaction to news: CLDX -13.8% (topline results from Barzolvolimab Phase 2 study), TERN -4.3% (CFO to depart), AVXL -1.3% (files $150 mln stock offering), RNST -1.2% (to acquire The First Bancshares; files $200 mln stock offering)