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Thursday, 22 February 2024

First Mining Drc-Zambia's biggest news from the week

Copper 360 records significant discovery at its Tweefontein mine; set to further position South Africa as a major copper-producing market

Nababeep, Northern Cape, South Africa: Copper 360 (JSE: CPR) has announced a significant discovery at its Tweefontein mine. Drilling and surface sampling confirmed a potentially large, on-surface, high-grade copper deposit at the first of four Magnetic Drone delineated anomalies at the historically mined site.

SLIDING THROUGH TIME: Lubrication from stone age to modern age

In part one of Lubrication from Stone Age to Modern Age (WearCheck Technical Bulletin 88), we slid through 5,000 years of lubrication history and left off at the end of the age of enlightenment in the early 1700s. The next leg of our journey finds us smack bang in the middle of the age of revolution, and a cascading series of events that led to the birth of the modern petroleum industry.

New Technologies Available to Solve Africa's Energy Crisis

Rapid advancements related to technology have certainly rendered life easier than ever before. However, such progression is driven by energy and many regions in the world are quickly running low on means to generate it. With over 600 million people devoid of access to electricity, Africa is a region amid an energy crisis.

Embedding ESG in Mining

The mining industry's consistent focus on environmental, social, and governance (ESG) risks, once again a central theme at the Investing in African Mining Indaba, heightened the complexity in evaluating both mineral assets and the companies themselves.

Africa Finance Corporation Unveils Strategic Partnerships to Boost Africa's Mining Sector

Africa Finance Corporation (AFC) , the continent's leading instrumental infrastructure solutions provider, has announced several strategic partnerships on the sidelines of the recently concluded 2024 Mining Indaba conference in Cape Town to boost Africa's mining sector, ushering the continent into a new era of growth and prosperity.

Kenya signs Sh4.8 billion deal with UK firm to revive fluorspar mining in the East African country

Kenya has signed Sh4.8 billion deal with the United Kingdom's Soy-Fujax Mining Company for the revival of fluorspar mining in the East African nation.

New clear arc flash visor for maximum safety and protection

Integrated workplace safety solutions provider BBF Safety Group has added a new clear arc flash visor to its BOVA ARC range to be used in conjunction with its Nikki hard hat for a complete face protection system.

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First Mining DRC-Zambia is a journal that focuses on creating a networking forum for the decision makers in businesses and Governments across Africa's Copper belt region, who are either directly or indirectly involved in mining Developments. We inform ,educate and create business and networking opportunities for all Companies that are interested in expanding their business across DRC, Zambia and beyond. FMDZ is a bi-monthly magazine for the mining industry.

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Nvidia continues to power AI and the market

Web Version

Thursday, Feb 22

Hi there and welcome to this week's edition of the Yahoo Finance Tech newsletter. This week we're talking all things Nvidia after the AI giant reported another blow-out quarter, driving up shares over 16% Thursday and giving Wall Street a shot in the arm.

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💰 Nvidia is now reporting a full year of results in a single quarter: Nvidia recorded another quarter of wild revenue growth and, as our Head of News Myles Udland explains, it's difficult to understate just how impressive the company's results are. In fact, Nvidia is now bringing in nearly as much revenue per quarter as it did in all of 2022.

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Let's break it down. Last year, Nvidia reported revenue of $27 billion. For Q4 2023, the chip giant saw revenue of $22.1 billion. That's 82% of the company's prior-year earnings in a single quarter. And Nvidia is poised to do it again in Q1 when it expects to report revenue of $24 billion plus or minus 2%.

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It's an incredible feat for a company that started out selling graphics cards for PC gaming, a segment that accounted for just 13% of the overall revenue in Q4.

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🐂 Wall Street grows more bullish on the 'AI ecosystem of choice': Investors aren't the only ones singing Nvidia's praises. As Josh Schafer points out, Wall Street analysts are also riding high on the company's latest results:

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Goldman Sachs' Toshiya Hari called for a greater than two times year-over-year revenue increase in Nvidia's fiscal 2025.

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UBS's Timothy Arcuri, meanwhile, said that we're "still in such early stages of what is possible with AI … and Nvidia is the de-facto global AI platform."

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Ruben Roy at Stifel said he believes increased diversification among AI customers will help feed Nvidia's growth moving forward.

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Ananda Baruah, who has a $1,200 price target on Nvidia's stock, said Nvidia could be staring down a $150 billion GPU opportunity this year.

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Still, not everyone shares the same starry-eyed outlook. Gil Luria at D.A. Davidson wrote in a note that Nvidia could begin to see a slowdown in its Data Center business in the next four to six quarters.

🏛️ Nvidia's AI mania adds new urgency to Biden's goal of boosting US chipmakers: The first funds from the Biden Administration's CHIPS Act have begun flowing to a handful of companies including GlobalFoundries, but as Ben Werschkul explains, Nvidia's latest results prove the money needs to start moving faster.

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The world's most advanced semiconductors are primarily made overseas. And as demand for AI chips continues to increase, the US will need to find a way to ensure it has access to those chips in the event of another global slowdown in semiconductor manufacturing.

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The only way to do that: build them in America.

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But Intel and TSMC, which are expected to benefit handsomely from the CHIPS Act, are already running into trouble with their own new factories, which has impacted construction and, as a result, delayed when their machines can start making chips.

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👑 Nvidia says future growth will come from 'sovereign AI': CEO Jensen Huang isn't just banking on selling AI chips to companies. He's also looking at selling to entire countries as part of a concept known as sovereign AI.

"The language, the knowledge, the history, the culture of each region are different," Huang said during Nvidia's earnings call. "And they own their own data. They would like to use their data, train it to create their own digital intelligence, and provision it to harness that raw material themselves."

Sovereign AI boils down to a single country or region setting up its own AI capabilities, allowing its AI to meet its own needs. According to Huang, Japan, Canada, France, and a number of other regions are already setting up their own sovereign AI systems.

More tech headlines

Apple is boosting iMessage security to protect against future quantum computing attacks.

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Google debuts Gemini for Business as tech firms seek to monetize AI investments.

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Why Tesla may need "new blood" on its board to pull off a Delaware exit.

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Amazon's entry to the Dow helps it stay "relevant."

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Google, Paramount, Disney, and others commit to job cuts in 2024.

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A new era for streaming bundles has arrived.