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Nvidia’s data center unit had sales of $2.37 billion in the quarter, up 35% from a year earlier. Gaming-related revenue jumped 85% to $3.06 billion. So-called CMP chips -- designed specifically for cryptocurrency miners -- generated revenue of $266 million in the quarter, lower than the company had forecast. Nvidia is one of the pioneers of outsourcing production and has never owned its own factories. Like its peers and rivals, the company depends on Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co. to build its chips. Source: Bloomberg

Component shortages at the level Cisco is currently facing would have wiped out revenue growth if the company was still as reliant as it once was on hardware sales,  but the company’s shift to software and services has allowed it to continue expanding. Source: Bloomberg

It seems that we have a new value pick from Berkshire Hathaway. The company estimated that not only Kroger is cheaply priced relative to earnings estimates, but also that the company is ramping up online sales with a 16% increase in their first fiscal quarter ending May 22. Berkshire bought 11 million shares of Kroger in the second quarter, bringing up their purchases to 61.8 million shares or 8.3% of shares outstanding. Source: MarketWatch

The Chinese auto maker XPeng plans to produce 200,000 units annually, up from 100,000. When all new capacity is in place, annual production could hit 400,000. Source: Barron's

When compared to last summer, when the Covid-19 outbreak upended buying habits, Target Corp. reported increased revenue in the second quarter as more consumers returned to shops and online spending moderated. Comparable sales, which include in-store and online purchases, rose 8.9% from a year ago, when they jumped 24.3% as shoppers stocked up on groceries and many other retail chains were temporarily shuttered. Store and online traffic rose 12.7%. Source: The Wall Street Journal