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Good Morning!
Hello everyone! It is the last market day of 2023!
👉 Nvidia releases new product
👉 Huawei’s revenue explodes in growth
👉 Boeing planes need immediate inspection
NVIDIA: New Product Release
Nvidia is gearing up to release a tailored version of its gaming processor in China. This version is specifically designed with decreased performance to align with the export limitations set by the United States.
On Nvidia's website, dedicated to its Chinese market, there's a listing for the new Nvidia RTX 4090D. A spokesperson mentioned to Reuters that this model is slated for a January launch. Notably, it contains 11% fewer "CUDA" (Compute Unified Device Architecture) cores than its counterparts available in other markets. The RTX line is Nvidia's premium range of gaming GPUs (graphics processing units), and the CUDA architecture in these units is akin to the CPU cores found in traditional processors.
Source: Business Insider
This strategic adjustment by Nvidia is a direct response to the U.S. government's export restrictions. These rules prevent Chinese firms from acquiring some of the most advanced chip technology from American entities.
🎯GRIT TAKE: If you are a Nvidia shareholder…upgrade to VIP to read the full GRIT Take.
HUAWEI: Revenue Growth Explodes
Chinese technology leader Huawei Technologies is on track to announce impressive 2023 revenues, expected to top 700 billion yuan (around $98.5 billion), as revealed in an internal new year message from rotating chairman Ken Hu, reported by Reuters. This marks about a 9% increase from 2022's 642.3 billion yuan, signaling Huawei's robust recovery following the setbacks from U.S. sanctions initiated in 2019, which had restricted its access to crucial global technologies like advanced chips.
Source; Huawei
In a strategic move, Huawei launched the Mate60 smartphone series in August, believed to be powered by a locally developed chipset. This release is seen as a pivotal moment in Huawei's resurgence in the high-end smartphone market after years of challenges due to U.S. sanctions. This comeback is underscored by a significant 83% surge in Huawei's smartphone shipments in October year-on-year, contributing to an 11% growth in China's overall smartphone market, according to Counterpoint.
BOEING: Inspections Needed Immediately
Boeing is advising airlines to conduct checks on their 737 Max aircraft due to concerns over a "possible loose bolt" in the rudder control mechanism, marking yet another quality concern for the company's top-selling jetliner.
The call for inspections came after "an international operator discovered a bolt with a missing nut while performing routine maintenance on a mechanism in the rudder-control linkage," as noted in a statement from the Federal Aviation Administration released on Thursday. Furthermore, the FAA revealed, "The company discovered an additional undelivered aircraft with a nut that was not properly tightened."
Source: Wikipedia
Boeing estimates that the inspection process will require approximately two hours for each aircraft. Additionally, the company has committed to ensuring that all new 737 Max planes will be subjected to this inspection before being delivered to customers.
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Elon Musk and SpaceX
The story of SpaceX begins with its founder, Elon Musk. After achieving success with ventures like PayPal and Zip2, Musk envisioned a future where humanity could explore and inhabit other planets. In 2002, Musk founded Space Exploration Technologies Corp., known as SpaceX, with the goal of reducing space transportation costs, thereby embarking on an ambitious journey to revolutionize space travel.
The road to success was fraught with challenges. The early years saw failed launches and financial strains, pushing SpaceX to the brink of collapse. However, perseverance and innovation were key to overcoming these hurdles. A significant turning point came in 2008 with the successful launch of the Falcon 1, establishing SpaceX as a formidable player in the aerospace industry.
Source: 21st Century Chronicle
Over the years, SpaceX introduced groundbreaking technology like the Falcon 9 and the Dragon spacecraft, reshaping space travel with reusable rockets and commercial spaceflights. Today, SpaceX stands at the forefront of interplanetary travel, with its eyes set on Mars. The dream of colonizing other planets is closer than ever, demonstrating that SpaceX's journey from a bold vision to a beacon of innovation is a testament to the power of dreaming big and defying the impossible.
Chart of the Day
📊 TikTok’s Yearly Consumer Spend
Source: Data.AI
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Source: @wallstreetoasis
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