Table of Contents

• Bumble

• Nvidia

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Bumble

Bumble’s stock surged 25% after the company disclosed plans to eliminate roughly 240 positions, about 30% of its staff, as part of a broader reorganization aimed at sharpening its strategic focus. The restructuring is projected to incur $13 million to $18 million in expenses this year but is expected to yield annual savings of around $40 million. Management emphasized that the reductions were carefully considered and will free up funds to accelerate product innovation and technology enhancements. After a steep decline in its market valuation since going public in 2021, the dating app also raised its guidance for second-quarter revenue to $244 million–$249 million and adjusted EBITDA to $88 million–$93 million, up from prior estimates.

Nvidia

Nvidia’s stock climbed over 4% on Wednesday, closing at an all-time high of $154.31 as investors shrugged off the impact of tightened U.S. export rules on sales to China. The chipmaker’s valuation now stands at $3.77 trillion, surpassing Microsoft to become the world’s most valuable company. Despite being shut out of the Chinese market and writing down $4.5 billion of unsold inventory after new restrictions on its H20 AI processor, Nvidia posted a 69% year-over-year jump in revenue for its data center division and is on track for roughly 53% revenue growth to nearly $200 billion in the fiscal year. CEO Jensen Huang told shareholders that, beyond artificial intelligence, robotics represents the company’s next major expansion area.

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