Breaking News Today – Thursday 26 February 2025

Business News Today 

Nvidia Posts Record $68 Billion Q4 Revenue Amid AI Boom

Global AI Chip making giant Nvidia, has reported record profits in its most recent quarter yesterday, as demand for AI compute continues to skyrocket. Nvidia reported Q4 FY2026 revenue of $68 billion, beating estimates, with a $78 billion Q1 forecast driven by AI agent adoption. The company hit a record quarterly Data Center revenue of $62.3 billion, up 22% from Q3 and up 75% from a year ago, while full-year revenue of $215.9 billion, was up by 65%, hitting a new record. CEO Jensen Huang dismissed AI bubble fears, noting Big Tech’s $630 billion capex on AI infrastructure. Nvidia Shares surged, but rivals like AMD held steady.

As in previous quarters, the company did not report any revenue from chip exports to China, despite the recent lifting of export restrictions by the U.S. government. “While small amounts of H200 products for China-based customers were approved by the U.S. government, they have yet to generate any revenue, and we do not know whether any imports will be allowed into China,” Colette Kress, the company’s chief financial officer, said.

Emerging Markets Rally as Dollar Retreats on Tariff Tensions

The US Dollar has retreated on tariff tensions while emerging-market equities hit new highs, up 13% YTD versus <1% for developed peers, fuelled by an Asian tech rally. Currencies shook off early routs amid USD weakness post-Supreme Court ruling on Trump’s tariffs. Investors eye renegotiations, with EM assets benefiting from diversification away from commercial debt. South Africa’s rand rallied strongly after an optimistic budget with the currency trading below 16 per USD, holding near its strongest level since 2022, after the government signalled that public debt is set to peak this fiscal year. Finance Minister Enoch Godongwana told lawmakers that debt will stabilise for the first time in 17 years as the budget deficit narrows and debt service costs ease. The JSE All Share was up slightly overnight, and SA bonds are firm

Zimbabwe Bans Raw Mineral Exports to Boost Local Processing

Mines Minister in Zimbabwe, Polite Kambamura has announced an immediate suspension of all raw mineral and lithium concentrate exports, including those in transit, to encourage domestic value addition. This policy aims to retain economic benefits within the country, amid ongoing disputes like the $100 million owed to South Africa’s Valterra Platinum in unpaid export proceeds. The ban aligns with broader efforts to industrialize, but critics warn of short-term revenue losses and investor deterrence. Zimbabwe, a key lithium producer, seeks to capitalise on global demand for battery metals while addressing foreign exchange shortages.

Platinum Peaking at Four Week-High

Futures in Platinum traded above $2,300 an ounce, touching their highest level in four weeks, as ongoing trade and geopolitical tensions created demand for safe-haven metals. A buildup of US troops in the Middle East kept markets cautious, while the US sanctioned over 30 entities linked to Iranian oil and arms dealings ahead of renewed nuclear talks in Geneva. At the same time, the Trump administration advanced its tariff agenda, with US Trade Representative Jamieson Greer indicating that a directive lifting the global tariff rate to 15% could be implemented where appropriate. Platinum also continues to draw support from a persistent supply deficit, as mine output, largely concentrated in South Africa, has trailed demand for several years, tightening above-ground inventories. Stronger automotive demand, ongoing palladium-to-platinum substitution in autocatalysts, and renewed investment interest, particularly from Asia, have added further momentum to prices.

Breaking News Shorts:  

• Alphabet-owned Intrinsic, which builds AI models and software designed to make industrial robots more accessible, is joining Google, the companies announced on Wednesday. Intrinsic will remain a distinct entity within Google but will work closely with Google DeepMind and will tap into Google’s Gemini AI models and cloud services.
• Gold has moved above $5,190 per ounce this morning, extending gains from the previous session and heading toward a four-week high, as markets weighed geopolitical tensions and uncertainties surrounding US trade policies. The buildup of US troops in the Middle East kept investors on edge ahead of nuclear talks in Geneva
• China’s Shanghai Composite fell 0.2% to below 4,140 today, ending a two-day rally as declines in new energy and metal stocks dragged on the broader market. The moves followed reports that the Trump administration plans to use a Pentagon-developed artificial intelligence program to help set reference prices for critical minerals.
• Korea’s benchmark KOSPI advanced 2.05% to around 6,208, marking a fresh record high as buying momentum intensified in large-cap chipmakers. The rally was driven by renewed global optimism following Nvidia Corp.’s stronger-than-expected earnings report. 
• India’s BSE Sensex edged up about 0.2% to 82,456 in morning trade today, extending gains for a second consecutive session as most sectors, led by technology, showed early strength. Consumer durables, industrials, and financials also advanced
  

Markets by Numbers 

Currency markets indicate the US dollar weaker against major currencies today, with the Greenback trading against the Euro at 1.18162 while trading against the Pound at 1.35563. The Yen is currently trading at 155.94 to the dollar. The rand (ZAR) is currently trading stronger at around R15.85 against the US dollar.

Commodities:  

• Gold futures have gained momentum today, rising by around 0.5% this morning, and currently trading at around $5192.17 per ounce.  
• Copper prices are trending marginally lower today, with prices currently around $5.9720 per pound
• Silver futures are flat today, and currently trading around $89.195 per ounce.
• Platinum futures have dropped slightly after hitting higher prices earlier this morning, and currently trading at $2298.50, While Palladium prices are trending around -1.7% lower this morning, and currently trading around $1802.50 per ounce.
• Brent crude oil prices are currently at $71.08 with WTI trading higher at $65.59
• Cocoa futures have lost more ground today, and currently trading around $3052 per ton. 
• Coffee futures are currently trending lower today, and trading at around $2.8440 per pound

Crypto Currencies: 

• Bitcoin continues its rally this morning, with a gain of 0.75%, and trading at around $68456 per coin currently 
• Ether prices are also up by over 2.2% today, and are currently trading around $2074.95.
• $Trumpcoin are currently trading around $3.50

(All prices quoted at approximately 07H00 Central African Time) 

Africa News Briefs:

• Israeli President Isaac Herzog arrived in Addis Ababa yesterday at the start of a two-day visit to Ethiopia.He was welcomed by the country’s Foreign Minister and is expected to meet President Salassie and Prime Minister Abiy later in the day. The visit follows Israel’s controversial recognition of Somaliland late last year and appears to be part of a diplomatic push to expand Israeli influence in the Horn of Africa
• Zimbabwe has rejected a US health deal that would have provided $367m (£272m) in funding over five years because of Washington’s demand for sensitive data.The decision has come to light after a government memo from December was leaked, revealing that President Emmerson Mnangagwa felt the deal was “lopsided”.