Good morning, Broadsheet readers! Abercrombie & Fitch chief executive officer Fran Horowitz called the economy "uncertain," Citigroup is looking to open its doors to smaller businesses, and Colette Kress helps lead Nvidia to record earnings. Have a great Thursday!
- Big gains. Investors have been looking forward to Nvidia’s second quarter earnings report with the breathless anticipation typically reserved for your home team’s long-shot Super Bowl victory.
And the company didn’t disappoint. In what some called the “most important tech earnings in years,” it beat expectations, reporting revenue of $30 billion—more than double what it reported this time last year. Though the company’s stock fell on the news of minor production snags, it is up more than 150% year-to-date, and its market value is only bested by the likes of Microsoft and Apple. Investors and analysts watched closely for a signal of the health of the broader AI market.
