as the most important company earnings report in years. nvidia — which dominates the market for al chips — has been at the centre of an investment frenzy on wall street, based on hopes that artificial intelligence will transform the business world. it's latest set of results were seen as a key test of those hopes. so how did it do? well, yet again nvidia made record sales — it earned just over $30 billion in revenue in the three months to the end ofjune. that was up 122% on the same time last year. but it's slower than the growth nvidia's been seeing in recent quarters. and its forecasts disappointed investors, sending its shares down as much as 7% in late trading. to put that in perspective, though, nvidia shares have risen 300% in the last five years and more than 150% this year alone,

taking the company's stock market value to more than $3 trillion — more than microsoft, and second only to apple. rikita gupta reports from new york. the chip—maker put up a blockbuster quarter in earnings, revenues topped $30 billion, more than double what it reported a year ago and beating the expectations from wall street. earnings per share of 68 cents also came in above expectations. the company authorised another $50 billion in share buy—backs. but after a huge run—up in stocks, expectations were high going into the report, and investors had been looking for an even bigger revenue forecast. the outlook threatens to tamp down ai frenzy that has the stock as had a meteoric rise — the stock as had a meteoric rise so_ the stock as had a meteoric rise so they are expecting a gold — rise so they are expecting a gold medal performance and we -ot gold medal performance and we got that— gold medal performance and we got that from nvidia but you

will see _ got that from nvidia but you will see some sort of reading aftermarket, that is what we see in — aftermarket, that is what we see in terms of the stock—taking there but we do not think_ stock—taking there but we do not think this will be long—lived. i think this is a stock_ long—lived. i think this is a stock that moves higher of these _ stock that moves higher of these numbers that this is the most — these numbers that this is the most watched earnings report in a decade — most watched earnings report in a decade. a lot of focus in terms _ a decade. a lot of focus in terms of— a decade. a lot of focus in terms of investors on nvidia so you will— terms of investors on nvidia so you will see some wild reactions after but overall it was — reactions after but overall it was an— reactions after but overall it was an a+ quarter. it threatens to tamp down _ was an a+ quarter. it threatens to tamp down an _ was an a+ quarter. it threatens to tamp down an ai _ was an a+ quarter. it threatens to tamp down an ai frenzy - was an a+ quarter. it threatens to tamp down an ai frenzy that| to tamp down an ai frenzy that has transformed the company into the world is most valuable company. as anticipated, they gave an update on the production delays and design flaws on its chip, causing market volatility several weeks ago. they acknowledged there were issues with production, saying that it was making changes to the number of functioning chips that come out of factories. at the same time, the company expects to bring in several billion dollars of revenue in the fourth quarter from the product.

let's go to san francisco and speak to andrew chang, technology director at s&p global ratings. thank you forjoining us. some shareholders will be disappointed will this, won't they? i disappointed will this, won't the ? ~ disappointed will this, won't the ? ., ., , disappointed will this, won't the? ., ., they? i think shareholders are expecting _ they? i think shareholders are expecting a — they? i think shareholders are expecting a bit _ they? i think shareholders are expecting a bit more - they? i think shareholders are expecting a bit more on - they? i think shareholders are expecting a bit more on the i expecting a bit more on the third quarter, the guide of billion is strong and meet expectations but i think the whisper numbers are a bit higher, perhaps 33 or 3a billion, so the beat was not as strong as what investors are used to when i think that is the way the investors are interpreting the guard. there is a lot of _ interpreting the guard. there is a lot of hype _ interpreting the guard. there is a lot of hype around - interpreting the guard. there | is a lot of hype around nvidia, people have heard of them but never doubled in stocks on a much about al. is it matter time until that hype sends to go away and the stock—take the toll? go away and the stock-take the toll? ~ ., go away and the stock-take the toll? ~ . , ., , , ., go away and the stock-take the toll? . ., , toll? what investors should be aware of is _

toll? what investors should be aware of is that _ toll? what investors should be aware of is that nvidia - toll? what investors should be aware of is that nvidia is - toll? what investors should be aware of is that nvidia is only. aware of is that nvidia is only aware of is that nvidia is only a high fire but nvidia is a semiconductor design and manufacture, and industry is volatile, and customers other have too much inventory and all of a sudden a surge in demand followed by periods of digestion, so this industry and nvidia at large will face a volatile cycle going forward. every quarter will not be to the up and write and longer term they will grow very robustly, for 2054, and will double to more than 120 billion looking at 2025, it will probably be 30% if not higher. very strong breather have a multiple court as well as not forget that this is a volatile industry and semiconductor investors have never seen this type of hyper growth that nvidia has presented to us over the past few quarters. it

nvidia has presented to us over the past few quarters.— the past few quarters. it feels like nvidia _ the past few quarters. it feels like nvidia is _ the past few quarters. it feels like nvidia is the _ the past few quarters. it feels like nvidia is the only - the past few quarters. it feels like nvidia is the only kid - the past few quarters. it feels like nvidia is the only kid on l like nvidia is the only kid on the block. what other competitors are around? an the block. what other competitors are around? an easy name to mention _ competitors are around? an easy name to mention is _ competitors are around? an easy name to mention is amd, - competitors are around? an easy name to mention is amd, they i name to mention is amd, they have their own product coming out, they have an ai forecast up out, they have an ai forecast up to 4.5 billion which is great when you compare that you nvidia, probably in the hundred billion dollar range, it is just a contest at this point. intel does not have a competing product either. this is nvidia's world and we're just living in. at the same time key customers, the hyper scale is like amazon and google and microsoft, they are spending billions of dollars on nvidia products and frankly they cannot be happy around everything that nvidia has over them, so they are developing their ownerships. for cost reasons and for nvidia reasons and i think that is a big competition that is coming down the line. having said that,

nvidia has 95% of the market share today and i cannot imagine nvidia losing share, perhaps 90 or 80, but they will dominate this landscape for multiple years.— dominate this landscape for multiple years. taking a step back and look— multiple years. taking a step back and look at _ multiple years. taking a step back and look at technology, | multiple years. taking a step i back and look at technology, we have seen a volatility she that you alluded to. will that be sustained going forward to the second half of the year? i second half of the year? i think overall, if you are referring to the semi industry overall, it the second looks brighter than the first half, and within this industry it has been two halves or two stories, one is nvidia and samsung who have done very well for the past few quarters and the traditional analogue controllers, who support industrial order etc, they have not done so well due to inventory issues. now that the inventory issues. now that the inventory issues. now that the inventory is clearing up to a certain level and demand is

picking up on our everything the second half of the year for the second half of the year for the semiconductor industry and frankly. it sector overall looks pretty right. smothering demand is modestly picking up, modestly getting better, both to ai and pc related faults but all in all. it industry overall is looking pretty good for the second half of the year. thank ou for second half of the year. thank you forjoining _ second half of the year. thank you forjoining us. _ second half of the year. thank you forjoining us. not - second half of the year. thank you forjoining us. not long i second half of the year. thank you forjoining us. not long to| you forjoining us. not long to go until the ( you forjoining us. not long to go untilthe ( in you forjoining us. not long to go until the ( in the us, interesting to see how shares fare there. technology analysts bob o'donnell says expectations for nvidia have got way out of hand. it says a lot about the fact that we are still very much in the beginning is an early innings of the ai infrastructure build up. this ai impact is a multi—year

phenomenon on in the market does not how to deal with that. they might think it would happen here now and this will keep building for a long time, and nvidia has positioned themselves quite well here. 0bviously themselves quite well here. obviously a lot of big numbers at some point and we will eventually start to see that but they continue to outperform expectations because there is such a huge demand. what is interesting is the fact that most of the figures up until now has been on the big cloud guys, amazon, microsoft, google, some other players around the world but what we are starting to see is you have sovereign governments but want to have their own ai infrastructure all around the world. you have enterprises and individual companies wanting to build their own ai infrastructure. i have research i'm in the process of getting ready to publish the shows that. there is strong interest in is offering to have these capabilities within their own

data centres. putting all that together and the enthusiasm and eagerness is there and the wall that nvidia has built up thanks to his own software, that is the opportunities is created for itself, give it a long runway. let's stay with tech, because the founder and ceo of messaging app telegram, pavel durov, has been charged in france as part of an investigation into organised crime. the russian—born billionaire was released on bail set at $5.5 million and is not allowed to leave french territory. he faces multiple charges including failing to curb extremist and illegal content on the app, and complicity in the distribution of child pornography. his lawyer has described the allegations as "absurd" and says telegram complies fully with european digital regulations. pierre—antoine denis is following the story for us in singapore.

what we know now of course is that he is not entirely guilty, at leastjust that he is not entirely guilty, at least just yet but what we know is the paris prosecutors think there may be a case against pavel durov in the charges that you said earlier. in that sense that he will have two answer more questions to reporting to the french police because there are different aspects of this case. he is complicit for running a platform that enables the child pornography distribution of sexual images of children and organised gangs. the lawyers arguing against it. as he discussed with authorities and try to find their way to combat this with the european authorities, this is where there may be more questions to answerfor there may be more questions to answer for pavel durov and his lawyers. time and time again the european commissioner has tried to ask pavel durov to try

to fight together against this telegram situation but it has never really happened. the reason why telegram is popular yet controversial is because only telegram in social media, you can have channels that are subject to 100,000 people which will allow you to share messages that could be across—the—board and may not be entirely moderated. moderation is the word that is creating quite some backlash, with some people on social media, including elon musk, the ceo of x, c moderation isjust another word for propaganda and asked for the immediate release of pavel durov.— pavel durov. thank you very much for — pavel durov. thank you very much forjoining _ pavel durov. thank you very much forjoining us - pavel durov. thank you very much forjoining us there i pavel durov. thank you very i much forjoining us there from singapore. let's continue the tech theme, because lawmakers in california have passed a controversial bill that would put safety restrictions on advanced artificial intelligence models. if signed into law by governor gavin newsom, the ai safety legislation — called sb 1047 — would require safety testing for

any large ai system. developers would also need to outline how they would turn it 0ff if it goes wrong — a so—called �*kill switch�*. the legislation has the support of elon musk, who said on monday it was a "tough call" but that al's risk to the publicjustifies regulation. but it has been widely opposed by big tech companies, many of whom are based in california dr keegan mcbride is lecturer in al, government & policy at the oxford internet institute — part of the university of oxford. thank you forjoining us. tell us a bit about this legislation and what it does differently? sb 1047 is interesting bill that passed a couple of hours ago and now what its way to governor newsome who will or will not be, depending on who you ask, and this is an interesting bill because california is where a lot of

the us tech capabilities are based, so it becomes a de facto four regulations just because of how much tech is raised within the same. it has been one of the most controversial as well, i am not sure if i have the more rebus resistance to an ai regulatory proposal at least in the most recent time frame. you have nancy pelosi see it is a bad deal, you have democrats and republicans and big and small take academics across the us, lots people think it is horrible but then have the other side, lake elon musk who say this is great. haifa musk who say this is great. how does this affect _ musk who say this is great. how does this affect ordinary people? how was it meaningful? it depends on how you are so basically what the bill is trying to do is if you are training a new ai based system they cost more than $100 million to train that you need to have a safety testing in a place that shows that your ai

will not be used to cause some catastrophic risk, someone could use it to create a new biological weapon or launch a cyber attack that takes down the power grid, and this is where a lot of debate comes, whether the regulation is needed and should be focusing on these fears or threats or risks that may or may not be possible at the moment or should we focus on more tangible moments from al lake deepfake or merely pure elation, nonconsensual imagery. is it at risk of becoming out of date quickly because ai is evolving at a rapid pace? there is certainly _ evolving at a rapid pace? there is certainly a — evolving at a rapid pace? there is certainly a risk _ evolving at a rapid pace? there is certainly a risk that - evolving at a rapid pace? there is certainly a risk that if- evolving at a rapid pace? there is certainly a risk that if you - is certainly a risk that if you have some measure written into law, the systems cost so much, that you are subject to the regulation, the people will train more capable systems over time that it either smaller survey do not fall within those restrictions orjust use less and less money obviously, that

is their goal anyway, so they will have to constantly keep it updated, which the bill has acute abilities to do. thank ou for acute abilities to do. thank you forjoining _ acute abilities to do. thank you forjoining us. - acute abilities to do. thank you forjoining us. from . acute abilities to do. thank| you forjoining us. from the oxford is a shoot which is part of the university of oxford. let's get some of the day's other news now. the new boss of qantas airways — vanessa hudson — says restoring "trust and pride" in the airline is her priority as the company reported a 16% slide in annual profits. qantas has been trying to fix its reputation after criticism over its service, soaring ticket prices, and treatment of staff and the departure of previous ceo allan joyce. the us federal aviation administration has grounded spacex's falcon 9 rocket after its failed attempt to land back on earth. the rocket successfully launched a batch of starlink internet satellites into orbit early on wednesday morning from florida. its reusable first stage booster returned to earth and attempted to land on a barge as usual, but toppled over and exploded

coming up — flower power: why the food industry is waking up to nature—friendly �*regenerative' farming. around the world and across the uk. this is bbc news.

all this week we've been looking at the challenge of ageing populaitons across the world. today we are in singapore, where people are both living longer than ever and having fewer children than ever. soon, a shrinking young workforce will have to prop up an ever—expanding group of retirees, who also now live alone in record numbers. faced with a potential social and economic crisis, singapore's government has a simple solution for its senior citizens — keep working. nick marsh reports. madame goh is well known in this part of town. it's herjob to deliver lunch and dinner to people who struggle

to leave their homes. living alone, she signed up to a scheme that uses government money to offer retirees paid odd jobs in their community. i do nothing at home. sweeping, mopping. so when this chance comes by, ijust grab to make my life more fulfilling and more purposeful. loneliness is starting to be an issue in singapore. by 2026, the country is on track to become a super aged society, with one in 5 people being over 65. naturally, people want to retire at an early age and enjoy their life. but from an economic perspective, this is not sustainable and that is going to become a very heavy burden for the government. working into old age would solve a lot of problems, but for many, it's not exactly the most thrilling prospect. back into work. it depends on — i don't

like to work any more. no use. who is going to employ you? nobody. they are looking for young guys, young young people, youngsters and all this. singapore's government knows this. and it's paying companies to hire over 60 by offsetting part of their wages. the older they are, the more subsidies a firm receives. persuading the people here to return to work is one thing, but getting employers to actually hire them... well, that's arguably an even bigger challenge. you can keep throwing public money at the problem, but only for so long. what the government really needs is for the private sector to start thinking very differently about age. before retiring, edna worked at one of singapore's biggest banks for 50 years. now she's back after signing up for a temporary work scheme, it means that when projects or part time vacancies pop up,

managers have a ready made pool of experienced workers to draw from. it might help me, i will continue, you know, if they need me or they need my help, i will still continue. madame goh, meanwhile, was working double duty the day we met her, taking attendance at her local exercise class. she also says that she'll carry on as long as she physically can. in singapore, as in other countries, it's a scenario that workers and employers will find increasingly common. nick marsh, bbc news, singapore. finally, a question about the food we all eat. is it possible to balance the growing need for food production with protection for the countryside and the climate? that�*s the idea of �*regenerative farming�* — a concept that is gaining support with farmers, scientists and the food and retail industry. regenerative farms grow crops alongside wildflowers and grasses — and avoid

using pesticides, herbicides, or fungicides — to support biodiversity and soil health. but acccording to new research from reading university, the public need more education about the benefits of sustainable farming. edd lees is the founder of wildfarmed a farming group whose regenerative flour is used by over 400 uk brands and restaurants, including nandos and franco manca. thank you forjoining us. tell us a bit about what this means? people have probably not heard of it, explain what regenerative farming is about? regenerative farming is a silver bullet for when it done well for the twin challenges of human and planetary health. what does that mean? coming out of the second world war there

was a very fast growing population and a shortage of food and it is one of the great miracles of the 20th century, up miracles of the 20th century, up there with the discovery of electricity and the internet in my opinion, that mass starvation was avoided you a complete total focus on growing yield at all costs, growing food to feed the growing population. as with many things when you focus on one element, the yields, there are unintended consequences and the unintended consequences and the unintended consequences and the unintended consequences of this chemical focused farming has been heavily degraded soil. in terms of farmers, from a farmer point of view, will they be concerned about the cost of doing this? it feels like a more complex process, so how do farmers feel about it? we more complex process, so how do farmers feel about it?— farmers feel about it? we work with 110 farmers _ farmers feel about it? we work with 110 farmers in _ farmers feel about it? we work with 110 farmers in the - farmers feel about it? we work with 110 farmers in the uk - farmers feel about it? we work with 110 farmers in the uk and | with 110 farmers in the uk and the role delighted to be part

of this journey because the incumbent system is not working for farmers either, incumbent system is not working forfarmers either, they incumbent system is not working for farmers either, they have been encouraged or forced to grow cheap food for decades, with higher and higher input costs, and more extreme weather events that have led to a much higher risk, a business proposition for them than previously. d0 proposition for them than previously-— proposition for them than previously. do you need to compete — previously. do you need to compete with _ previously. do you need to compete with organic- previously. do you need to i compete with organic farming and food? he will know about organic food and the potential benefits of that. how will regenerative food mp with that? it is not about competing, we share a common goal with the organic movement and i think we often see we have the same destination but on different paths. certainly at our organisation we are interested in making rapid change at pace because it is our core belief that if we carry on farming in

the way we are today we will run out of healthy soil that is required to feed us because it is the basis on which all life on earth exists.— on earth exists. you have a famous _ on earth exists. you have a famous business _ on earth exists. you have a famous business partner. on earth exists. you have a - famous business partner humour help branded? i famous business partner humour help branded?— help branded? i have two. we are role from unusual- are role from unusual backgrounds are one of my business partners andy kato was previously a musician in the banned groove armada and george lang was a tv presenter on bbc. my lang was a tv presenter on bbc. my background was finance and i think sometimes having an outside review is helpful because we came to look at the incumbent system and is simply was not fairfor the incumbent system and is simply was not fair for the farmers, not providing nutrients for food, and it was not solving the problems of today, it was solving the problems of 80 years ago. amongst many other groups in the country, we are not the only one that we set

about trying to create a system where farmers and food businesses and consumers can all come together.— all come together. sorry, i will have — all come together. sorry, i will have to _ all come together. sorry, i will have to interrupt. - all come together. sorry, i will have to interrupt. you | will have to interrupt. you very much for coming on to talk to us. see with us here in bbc news. hello again. wednesday brought us some big contrasts in the weather across the uk. now, for the north and west of the country, we did have a lot of cloud, and that brought some outbreaks of rain at times. you can see that on the combined satellite and radar picture. some of the heaviest rain went into western scotland, where we also had some of the lowest temperatures. for example, in harris, we only had temperatures of 14 degrees. in sharp contrast to that, skipping across these various weather fronts, we actually had plenty of sunshine and quite hot weather across east anglia and south east england, with temperatures peaking at 30 degrees in cambridge.

confirmation, then, that the weather did indeed look a lot cheerier for some. now, looking at the weather picture over the next few hours, we�*ve got a cold front whizzing its way eastwards across the country. what that�*s essentially doing is it�*s bringing cooler and fresher air in across the uk, so it won�*t be so hot across eastern areas of england as we look at the forecast in detail for thursday. and for many of us, it�*s going to be quite a fresh start to the day. temperatures even in single figures across parts of eastern scotland. now for scotland and northern ireland, this weather front will bring a zone of thicker cloud, outbreaks of rain for a time, followed by some showers into the afternoon. there could be a few showers at times across the northwest of england, maybe across parts of wales, but these few and far between, i think across the midlands, east anglia, southern england, it�*s a largely dry day. still warm in the sunshine, 23 degrees. not bad, but it�*s not going to be as hot as it was. we�*re not going to see temperatures of 30, for example. then for friday and the weekend, this area of high pressure is set to move across the uk. the other thing we�*ve got to watch out for is the risk

of a few showers coming up from france, but for the time being, it looks like they�*ll stay away. so friday, plenty of sunshine, just a few showers for 0rkney and shetland, where it will continue to be quite breezy. 0therwise, temperatures generally in the high teens to low 20s for scotland and northern ireland, and about 20 to 23 widely across england and wales. it then starts to get a bit warmer for scotland and northern ireland as we start to get a southerly drift, so temperatures more widely will reach the 20s as we go through the weekend. there�*ll still be a lot of dry and sunny weather for england and wales. just an outside chance of a shower working in to the coast of southern england. 0ur temperatures, well, coming up to about 22 in glasgow, so feeling quite a bit warmer here. and a fine weekend, sunday looks good as well. could see 25 across parts of eastern england, but then some showers around next week.

good morning, welcome to breakfast with naga munchetty and charlie stayt. 0ur headlines today... the paralympic games got underway with a spectacular ceremony taking place on the streets of paris. paralympic athletes are not here to participate, no sir. they are not playing games. they are here to

compete, win and smash world records! smoking could be banned in outdoor spaces such as beer gardens, and outside hospitals and sports grounds as part of a drive to phase out tobacco. drivers are warned to expect a rise in fuel duty in this autumn�*s budget — i�*ll be looking at how a hike in the tax on petrol and diesel sales could impact you. in sport, league two wimbledon stun premier league new boys ipswich town on penalties to reach round three of the league cup. and they�*ll now face another premier league side in newcastle after they beat nottingham forest, also on penalties. yesterday cambridge reached 30 degrees. today is a fresh start, sunshine and showers, most of which will be in scotland, northern ireland and northern england. all the details shortly. it�*s thursday the 29th of august. our main story... tens of thousands of people have lined the streets of paris to watch

the opening ceremony of the paralympic games.