Tech Industry Developments: NVIDIA Earnings Exceed Expectations, OpenAI Prepares IPO

NVIDIA has reported its Q1 FY2027 revenue, exceeding consensus estimates at $8.16 billion. This growth is largely driven by data center spending, which shows no signs of slowing down. NVIDIA also announced an $8 billion share repurchase program and increased its quarterly cash dividend.

OpenAI is preparing to file for its initial public offering (IPO) with the help of investment banks including Goldman Sachs and Morgan Stanley. The company aims to begin its listing process as soon as September this year, although timelines remain subject to change.

SpaceX's S-1 filing has disclosed that it holds 18,712 bitcoins, with a cost basis of approximately $661 million. This implies an average acquisition price of roughly $35,300 per bitcoin, and the fair market value of these holdings is around $1.293 billion.