The New York Times NYT shares fell more than 12% in trading on Wednesday after the publisher reported slower-than-expected digital subscriber growth for the second quarter and issued a weaker-than-anticipated outlook for digital subscription revenue.

The media company added about 280,000 net digital-only subscribers during the quarter, below analysts’ average estimate of 295,300 compiled by Visible Alpha.

The figure also marked a slowdown from the 310,000 digital subscribers added in the previous quarter.

The Times ended the quarter with approximately 13.35 million subscribers across its print and digital products, including about 12.8 million digital-only subscribers.

Compared with a year earlier, digital-only subscriptions increased by roughly 1.5 million.

Investors also reacted to the company’s guidance, with the publisher forecasting digital-only subscription revenue growth of between 12% and 15% for the current quarter.

The midpoint of that range fell below analysts’ expectations of 14.2%.

Advertising business remains resilient

While subscriber growth softened, advertising remained a bright spot.

Total advertising revenue rose 11.3% year over year to $149.1 million, exceeding analyst estimates of $146.4 million.

Digital advertising revenue climbed 20.7% to $114 million, supported by strong marketer demand and increased advertising inventory, while print advertising revenue declined 11.1% to $35.2 million.

Print subscription revenue also continued to weaken, slipping 0.8% to $130 million, primarily because of lower single-copy sales and weaker domestic home-delivery revenue.

The results highlight the growing importance of digital advertising and subscriptions as traditional print revenues continue to decline.

Publishers face increasing competition

The New York Times continues to operate in an increasingly competitive digital media environment, where publishers are contending with changing reader habits, declining trust in news and growing disruption from artificial intelligence platforms.

Large technology companies and AI-powered search tools have increasingly affected referral traffic to publishers’ websites, while competition for readers has intensified among digital-first outlets including Axios, CNN and The Verge.

To strengthen subscriber loyalty, the Times has continued bundling its core journalism with lifestyle-focused products such as product review site Wirecutter, sports publication The Athletic and gaming offerings including Wordle.

The strategy has helped the company outperform several legacy newspaper peers despite the latest slowdown in subscriber additions.

NYT remains resilient against a challenging backdrop

Despite Wednesday’s decline, New York Times shares remain up more than 8% this year.

The company has also attracted support from Warren Buffett’s Berkshire Hathaway.

Regulatory filings show Berkshire initially disclosed ownership of about 5.07 million Times shares worth roughly $351.7 million at the end of 2025.

By mid-2026, the conglomerate had expanded its holding to more than 15.1 million shares, representing roughly a 9.4% ownership stake.

The Times’ relative resilience stands in contrast with several other major US newspapers that have struggled with falling traffic and mounting financial pressure.

Earlier this year, The Washington Post announced plans to cut roughly one-third of its workforce while scaling back coverage of sports and international news.

Explaining the reductions, Executive Editor Matt Murray said the newspaper’s online traffic had fallen sharply over the past three years amid the rise of artificial intelligence and acknowledged the publication was “too rooted in a different era.”

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Nvidia stock (NVDA) rose sharply on Wednesday after Elon Musk said SpaceX would build its artificial intelligence infrastructure exclusively around Nvidia’s processors.

The stock climbed 4.6% to about $221 in early trading.

The gains also came as rival Advanced Micro Devices looked set for a weaker session, with its shares falling more than 5% in early trading despite reporting quarterly results that exceeded Wall Street expectations.

SpaceX commits to Nvidia platform

During SpaceX’s earnings call, Musk said the company had decided to standardise its AI infrastructure around Nvidia’s latest architecture.

“Going forward, we’ve decided to build exclusively on Nvidia because we think the Vera Rubin architecture is the best architecture,” Musk told analysts.

The decision represents a notable win for Nvidia as major AI infrastructure providers increasingly evaluate alternatives, including internally developed chips and products from competing semiconductor companies.

Beyond its launch business, SpaceX also operates xAI and rents computing capacity from its data centre infrastructure.

Musk said SpaceX expects to have approximately two gigawatts of computing capacity by the end of this year, with that figure potentially increasing to as much as 10 gigawatts next year.

He also reiterated the company’s longer-term ambition to deploy Nvidia-powered orbital data centres designed to overcome land and power constraints facing terrestrial computing facilities, although the concept remains the subject of debate among industry observers.

AMD earnings fail to impress investors

Nvidia also benefited from weakness in AMD shares following the chipmaker’s earnings report.

Although AMD reported results that exceeded Wall Street expectations, investors focused on its outlook after a strong rally in the stock earlier this year.

The contrasting market reaction also highlighted Nvidia’s comparatively lower valuation.

According to FactSet, AMD trades at roughly 44 times forward earnings, compared with approximately 19.4 times for Nvidia.

Morningstar sees Nvidia as undervalued

Morningstar said Nvidia now fits the profile of a growth-at-a-reasonable-price investment.

The research firm maintained its $280 fair value estimate and said the shares continue to trade at roughly a 30% discount to that valuation.

Morningstar said Nvidia remains the leading supplier of graphics processing units, software, and networking technologies that underpin the rapidly expanding artificial intelligence market.

The firm expects cloud providers to continue investing in proprietary chips and noted that competitors, including AMD, are expanding their AI accelerator offerings.

However, Morningstar said those efforts are likely to erode only a limited portion of Nvidia’s market position.

The firm attributed Nvidia’s competitive advantage to its graphics processing technology and the proprietary CUDA software platform, which it said creates high switching costs for customers developing AI applications.

Morningstar also said it expects continued acceleration in AI capital spending during calendar 2026 and forecasts total revenue growth of about 80% for Nvidia in fiscal 2027, supporting its long-term outlook for the company.

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Eli Lilly stock LLY gained 6% on Wednesday after delivering a stronger-than-expected second quarter as robust demand for its blockbuster GLP-1 medicines Mounjaro and Zepbound lifted revenue and profit well above Wall Street expectations.

This has prompted the drugmaker to raise its full-year revenue outlook.

The company reported adjusted earnings per share of $8.38, comfortably ahead of the FactSet consensus estimate of $6.01. 

Revenue climbed 48% year over year to nearly $23 billion, surpassing analysts’ expectations of $20.7 billion.

The Indianapolis-based company now expects full-year revenue between $85 billion and $87 billion, compared with its previous forecast of $82 billion to $85 billion.

Analysts had been expecting revenue of about $85.3 billion.

While Lilly narrowed the upper end of its adjusted earnings guidance by 50 cents, it maintained a forecast of $35.50 to $36.50 per share for the year, remaining above analysts’ expectations at the midpoint of the range.

Mounjaro and Zepbound continue to power growth

The company’s diabetes and obesity treatments remained the primary drivers of growth during the quarter.

Mounjaro, Lilly’s injectable treatment for type 2 diabetes, generated $9.9 billion in revenue, exceeding Wall Street expectations of approximately $8.8 billion to $8.9 billion.

Revenue from the drug nearly doubled compared with the same period last year, reinforcing its position as the world’s best-selling medicine.

Zepbound, which contains the same active ingredient, tirzepatide, but is approved for chronic weight management, recorded $4.9 billion in sales.

The result topped analysts’ expectations of roughly $4.6 billion to $4.7 billion and represented a 46% increase from a year earlier.

Lilly’s GLP-1 portfolio, which includes Mounjaro, Zepbound and oral obesity treatment Foundayo, now accounts for about 65% of the company’s total revenue.

Foundayo, launched in April, generated $98 million during its first full quarter on the market.

While the figure fell short of the FactSet consensus estimate of $103 million, the product marks Lilly’s entry into the growing oral GLP-1 market, where it competes directly with Novo Nordisk.

“LLY crushes expectations,” wrote RBC Capital Markets analyst Trung Huynh, describing the company’s second-quarter performance to investors.

Acquisitions expand pipeline beyond obesity drugs

Alongside strong commercial execution, Lilly continued expanding its pipeline through acquisitions.

During the quarter, the company completed its acquisition of in vivo cell therapy developer Kelonia Therapeutics and finalized the purchase of Centessa Therapeutics in a deal valued at up to $7.8 billion, marking Lilly’s largest completed acquisition to date.

After the quarter ended, Lilly also agreed to acquire psychedelic drug developer AtaiBeckley as it broadened its presence in mental health treatments. 

The company additionally completed three acquisitions aimed at building an infectious disease portfolio.

Lilly also disclosed an investment in Oura, the maker of health-tracking smart rings that has filed to go public.

Manufacturing investment and outlook remain in focus

The company continues to invest heavily in manufacturing capacity to support growing demand for its medicines.

In May, Lilly announced an additional $4.5 billion investment to expand manufacturing facilities across Indiana, increasing its total commitment in the state to more than $21 billion.

The company also strengthened commercial partnerships during the quarter, revamping an agreement with CVS Health aimed at improving patient access to Zepbound and Foundayo.

Lilly’s performance contrasted with rival Novo Nordisk, whose latest quarterly results disappointed investors despite an improved annual outlook.

Looking ahead, Lilly plans to submit its next-generation weight-loss drug retatrutide to US regulators during the first quarter of 2027, targeting approval later that year or in early 2028. 

The company also expects continued demand for its existing portfolio to support further revenue growth after more than doubling sales since the second quarter of 2024.

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Broadcom stock has jumped to its highest level since June 4 as investors buy the dip in technology companies. AVGO jumped to $418, up by 17% from its lowest point in July and 45% above the year-to-date low. This article explains why the stock will continue rising and possibly move above the year-to-date high of $495.

Broadcom stock is benefiting from the AI boom 

AVGO stock has several bullish catalysts that will drive it higher in the long term. First, the company will become a major player in the cybersecurity industry as AI-fueled hacks jump. Most recently, companies like OpenAI and Anthropic have confirmed that their AI tools are escaping and hacking companies.

This is just the beginning, with AI models getting more advanced. In China, companies like Alibaba, Moonshot, and DeepSeek have recently launched some of the most advanced AI models in the industry. 

These developments means that companies will need more cybersecurity tools to fight the threats. Broadcom is one of the biggest names in the cybersecurity space, thanks to its Symantec buyout. 

Most importantly, Broadcom has become the go-to partner for the biggest companies in the AI space. It recently extended its relationship with Apple, and is Google’s top partner in its TPU product.

Major deals in the AI space

The company has also inked a multibillion deal with OpenAI. Recently, OpenAI unveiled the chip that will be manufactured by the company. Broadcom is also a top partner for companies like Meta Platforms, Amazon, Microsoft, Oracle, and ByteDance. 

These deals explain why its revenue growth is continuing. The most recent results showed that it made over $22 billion in revenue in the second quarter, up by 48% from the same period last year. Its adjusted EBITDA jumped by 69% to $15.2 billion, while the free cash flow rose to $10 billion.

While some metrics fell short of expectations, we believe that Broadcom’s best days are ahead of it. Indeed, the average estimate is that the company’s annual revenue will jump by 65% this year to $106 billion. It will then make $173 billion next year, up by 63% YoY.

If this revenue growth continues, it means that the company will cross the $300 billion figure in the next few years.

Broadcom is a high-margin business, with its operating margin rising to 67%, and this figure may continue to grow.

These metrics helps to justify why Broadcom’s valuation is where it is today. It has a forward price-to-earnings ratio of 33, higher than the technology sector median of 25. 

Still, using the Rule-of-40 approach show that the company is not all that expensive. It has a Rule-of-40 metric of 115%, meaning that its growth and profitability margins are in sync. 

The main risk that may affect Broadcom’s performance is if the AI industry starts slowing down. Recent financial results by big-tech companies shows that they all plan to intensify their investments in the coming years, which is bullish for the company.

Broadcom stock price technical analysis

AVGO stock chart | Source: TradingView

The daily chart shows that the AVGO stock plunged and formed a big gap on June 3 when its profit metric came short of expectation. It is now attempting to fill the fair value gap after it found strong support along the 200-day Exponential Moving Average (EMA). 

The stock has formed a small inverse head-and-shoulders pattern, while the Relative Strength Index (RSI) has pointed upwards. 

Therefore, the stock will likely continue rising as bulls target the year-to-date high of $495. A move above that level will point to more gains, potentially to $500.

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World Chain has announced the launch of full block access lists, becoming the first production Layer-2 blockchain network to stream EIP-7928 block access lists within every flashblock.

The feature is scheduled to go live on World Chain Mainnet on Aug. 17 and is designed to improve transaction throughput without increasing hardware requirements for validators.

According to the company, as blockchain networks process more transactions, validators typically require greater computing power to verify blocks.

World Chain said its implementation allows validators to verify blocks in parallel while they are still being built, with the goal of increasing throughput to as much as one gigagas per second while keeping validator hardware requirements largely unchanged.

Traditionally, validators must verify every transaction in a block one after another before confirming the block.

According to World Chain, full block access lists record the blockchain state that each transaction reads and writes, allowing independent transactions to be verified in parallel across multiple CPU cores.

World Chain said it extends the EIP-7928 specification by streaming access list data every 200 milliseconds through its flashblock architecture.

This allows validators to begin verifying transactions while a block is still being assembled, rather than waiting for the completed block, reducing validation time and distributing the verification workload throughout the block-building process.

According to the company, the feature will be introduced through a runtime flag instead of a hard fork, unlike Ethereum’s planned implementation of EIP-7928 as part of the proposed Glamsterdam upgrade.

This allows client operators to upgrade before the Aug. 17 mainnet rollout without requiring a coordinated network-wide upgrade.

According to World Chain, internal testing on its test networks showed that validation latency remained largely stable as throughput increased, reaching up to one gigagas per second using standard cloud infrastructure.

The company said the results indicate that blockchain networks can increase transaction throughput without a corresponding increase in computing resources for validators.

World Chain said the rollout marks the first production implementation of streamed EIP-7928 block access lists and contributes to Ethereum’s broader scaling efforts.

According to the company, the implementation is intended to improve network throughput while helping maintain accessibility for independent validators.

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