A delivery rider passes by a Nike retail store on Dec. 29, 2024, in Chongqing, China.
Cheng Xin | Getty Images News | Getty Images
The Trump administration’s radical overhaul of the federal government and economic policy is bleeding into corporate earnings.
Nike reported earnings Thursday, and cautioned that it expects sales in its current quarter to plunge because of tariffs and sliding consumer sentiment. Accenture, meanwhile, said its revenue has been hit by a reduction in contracts with the U.S. government as the latter reins in spending.
Those are warnings of the economic damage that countries could suffer — on a wider scale — when U.S. President Donald Trump’s reciprocal tariffs come into effect April 2, as he had warned.
Across the Atlantic, the European Union postponed its tariffs on the U.S. as it hopes to negotiate a new deal with Trump — and insulate its economy from the blows already seen in corporate America.
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And finally…
Lisa Su, CEO of AMD, attends the Artificial Intelligence Action Summit at the Grand Palais in Paris, Feb. 10, 2025.
Benoit Tessier | Reuters
AMD’s Lisa Su has already vanquished Intel. Now she’s going after Nvidia
When Lisa Su became CEO of Advanced Micro Devices in late 2014, the company was in dire straits and on the brink of potential bankruptcy.
AMD passed rival Intel in market value in 2022 and is now worth $172 billion, a roughly 85-fold increase during Su’s tenure. Millions of gamers rely on AMD processors every day as they power up their Microsoft Xbox and Sony PlayStation consoles. AMD chips are so important that the U.S. government sees them as critical to national security.
Yet, AMD still views itself as an underdog. That’s because it’s a distant second in artificial intelligence, behind Nvidia. To have a serious role in the future of technology, AMD knows it needs a bigger chunk of the AI market.