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Tag: expectations

  • RICHARD EDEN: Meghan Markle finds the ideal boss for her American Riviera Orchard… herself! Duchess of Sussex takes up CEO role at her lifestyle brand after fruitless search to find someone able to meet her expectations

    RICHARD EDEN: Meghan Markle finds the ideal boss for her American Riviera Orchard… herself! Duchess of Sussex takes up CEO role at her lifestyle brand after fruitless search to find someone able to meet her expectations

    Having announced her new cooking and lifestyle business, American Riviera Orchard, with great fanfare back in March, the Duchess of Sussex began a search for a suitable Chief Executive Officer.

    ‘Meghan is interviewing candidates for the CEO role at the moment,’ a source told me at the time.

    Despite having interviewed several candidates for the position, Prince Harry’s wife was unable to find anyone who matched her expectations.

    Now, insiders say she has found the perfect candidate – herself.

    ‘She is the CEO of American Riviera Orchard,’ a ‘source in the know’ told the New York Post.

    In April, a California-based source told me: ‘The initial CEO search has not panned out so far.’

    I reported that the Duchess’s difficulties had led to an intriguing new development: she had begun negotiations with Netflix about the U.S. streaming giant entering into a commercial partnership with American Riviera Orchard.

    ‘This is something new for Netflix,’ the source told me. ‘It would run the lifestyle business with Meghan, developing products as spin-offs from her show. ‘If a partnership is agreed, it’s likely that Netflix would install its own CEO to run operations.’

    The Duchess of Sussex began a search for a suitable Chief Executive Officer in March

    The Duchess of Sussex began a search for a suitable Chief Executive Officer in March 

    Meghan is said to hope that American Riviera Orchard, which will focus on home, garden, food and lifestyle wares, will be highly lucrative.

    Meghan is said to hope that American Riviera Orchard, which will focus on home, garden, food and lifestyle wares, will be highly lucrative.

    Meghan and Harry, pictured during a visit to Colombia last month, have also reportedly 'struggled' to find a CEO for Meghan's new home goods and lifestyle venture

    Meghan and Harry, pictured during a visit to Colombia last month, have also reportedly ‘struggled’ to find a CEO for Meghan’s new home goods and lifestyle venture

    Her lawyer has applied to trademark the brand in the U.S. for various goods, including cutlery, recipe books, tablecloths, napkins, jams, edible oils, vegetable and dairy-based spreads (pictured: Heather Dorak posts a photo of her American Rivera Orchard Jam on Instagram)

    Her lawyer has applied to trademark the brand in the U.S. for various goods, including cutlery, recipe books, tablecloths, napkins, jams, edible oils, vegetable and dairy-based spreads (pictured: Heather Dorak posts a photo of her American Rivera Orchard Jam on Instagram) 

    Meghan is said to hope that American Riviera Orchard, which will focus on home, garden, food and lifestyle wares, will be highly lucrative.

    Her lawyer has applied to trademark the brand in the U.S. for various goods, including cutlery, recipe books, tablecloths, napkins, jams, edible oils, vegetable and dairy-based spreads. The trademark application also appears to extend to a physical shop where items could be sold.

    The Duchess, 43, unveiled the venture nine months ago by posting a glitzy video on Instagram in which she could be seen busying herself in a rustic-looking kitchen, arranging white and pink flowers and whisking something in a bowl.

    She posted the video the day after I contacted her office for comment on her plans, which may have overshadowed an appearance by Harry, via video link, at an event that evening for the Diana Award, an organisation close to his heart.

    The news that Meghan has appointed herself chief executive of the business follows a string of departures from Harry and Meghan’s workforce.

    The total number of staff the Sussexes have lost since they married in 2018 is said to be at least 18, with nine or more having left since they moved to California.

    A spokesman for the Sussexes declined to comment last night. 

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  • Nvidia beats earnings expectations as investors eye demand for Blackwell AI chips

    Nvidia beats earnings expectations as investors eye demand for Blackwell AI chips

    LOS ANGELES — Nvidia on Wednesday reported a surge in third-quarter profit and sales as demand for its specialized computer chips that power artificial intelligence systems remains robust.

    For the three months that ended Oct. 27, the tech giant based in Santa Clara, California, posted revenue of $35.08 billion, up 94% from $18.12 billion a year ago.

    Nvidia said it earned $19.31 billion in the quarter, more than double the $9.24 billion it posted in last year’s third quarter. Adjusted for one-time items, it earned 81 cents a share.

    Wall Street analysts had been expecting adjusted earnings of 75 cents a share on revenue of $33.17 billion, according to FactSet.

    Investors took the results in stride, however, and Nvidia’s high-flying stock slipped about 1% in after-hours trading. Shares in Nvidia Corp. are up 195% so far this year.

    “The age of AI is in full steam, propelling a global shift to Nvidia computing,” Jensen Huang, founder and CEO of Nvidia, said in a statement.

    Analysts’ were eyeing Nvidia’s guidance on its Blackwell graphics processor unit, a next-generation artificial intelligence chip that’s seen demand from companies like OpenAI and others building AI data centers. Over the summer, the tech juggernaut said it would increase production of its Blackwell AI chips beginning in the fourth quarter and continuing through fiscal 2026.

    Huang said in an interview with CNBC last month that demand for Blackwell is “insane.”

    “Everybody wants to have the most and everybody wants to be first,” Huang said.

    Nvidia has led the artificial intelligence sector to become one of the stock market’s biggest companies, as tech giants spend heavily on the company’s chips and data centers needed to train and operate their AI systems.

    The company carved out an early lead in AI applications race, in part because of Huang’s successful bet on the chip technology used to fuel the industry. The company is no stranger to big bets. Nvidia’s invention of graphics processor chips, or GPUs, in 1999 helped spark the growth of the PC gaming market and redefined computer graphics.

    Demand for generative AI products that can compose documents, make images and serve as personal assistants has fueled sales of Nvidia’s specialized chips over the last year. Nvidia, the most valuable publicly traded company by market cap as of Wednesday morning, is now worth over $3.5 trillion, with analysts closely monitoring Nvidia’s path to $4 trillion.

    Through the year’s first six months, Nvidia’s stock soared nearly 150%. At that point, the stock was trading at a little more than 100 times the company’s earnings over the prior 12 months. That’s much more expensive than it’s been historically and than the S&P 500 in general.

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