Nvidia's GTC
Friday, March 21st, 2025
World Events — East Asia’s Arm-makers Are on the Rise
The Economists
East Asian arms manufacturers, particularly those in Japan and South Korea, are experiencing significant growth driven by increasing domestic and international demand. The combined annual revenues of Japanese and South Korean defense-focused firms have surged by 25% since 2022, reaching $63 billion, outpacing even Europe's resurgent arms industry. This growth is fueled by several factors, including heightened regional security concerns and a desire for greater self-reliance in defense capabilities. Japan's expansion of its defense budget in 2022 and South Korea's efforts to reduce arms imports have contributed to this trend. Additionally, these companies are capitalizing on growing defense budgets worldwide, with their short supply chains allowing for rapid scaling of production. While the United States remains the dominant exporter of advanced long-range strike capabilities, Asian firms are meeting new demand for helicopters, artillery, and precision munitions. The success of East Asian arms manufacturers is likely to continue, especially as America's allies seek to strengthen their own defense capabilities in light of geopolitical uncertainties.
Tech — Nvidia’s GTC Conference
Morning Star
Nvidia's GTC 2025 event showcased the company's continued dominance in AI hardware, software, and networking, with promising developments in robotics and autonomous driving. CEO Jensen Huang unveiled an impressive three-year AI GPU roadmap, including Blackwell Ultra, Vera Rubin, and Rubin Ultra, set to deliver significant AI inference processing advantages. Despite potential competition from custom ASICs designed by hyperscalers, Nvidia remains confident in its market position, with Huang stating that the "vast majority" of AI inference currently runs on Nvidia hardware. The company's focus on AI factories and data center opportunities, including the open-source Isaac GROOT N1 robotics foundational model, demonstrates its strategy to seed the robotics ecosystem while profiting from cloud data and workloads. With a fair value estimate of $130 and a wide economic moat rating, Nvidia's stock is considered fairly valued, reflecting the company's strong position in the rapidly growing AI market.
Business — Consolidation in the Luxury Market
The Economists
The luxury industry is bracing for a wave of consolidation as economic challenges and succession planning drive mergers among high-end brands. Prada is reportedly nearing a $1.6 billion deal to acquire Versace from Capri Holdings, following Donatella Versace's resignation as chief designer. This potential tie-up reflects a broader trend of independent labels struggling to compete with luxury giants like LVMH, Kering, and Richemont, which now account for 31% of global luxury sales. Weak consumer spending, particularly on aspirational brands, has intensified pressures, while scale advantages in advertising, talent acquisition, and supply chain control make mergers increasingly appealing. With other brands such as Armani and Dolce & Gabbana exploring succession plans, the luxury sector appears poised for further consolidation despite past regulatory hurdles.
Running — 6 Signs You Need to Take a Day Off From Running
Taking a day off from running is essential for preventing overtraining and allowing your body to recover. Six key signs indicate you need a rest day: feeling persistently tired despite adequate sleep, difficulty sleeping, constant thirst and dark urine signaling dehydration, consistently sluggish performance during runs, mental burnout and decreased motivation to run, and an abnormal heart rate. These symptoms suggest your body is struggling to keep up with your training demands. By recognizing these signs and incorporating proper rest, nutrition, and hydration into your routine, you can maintain a healthy balance in your training and improve your overall running performance. Rest days provide the opportunity for physical and mental repairs, helping you avoid the pitfalls of overtraining and ensure long-term success in your running journey.
Baking — Oreo Cream Puff
These delightful treats, whether you refer to them as Oreo Cream Puffs or Cookies and Cream Cream Puffs, are truly irresistible. The recipe showcases classic puffed pastry topped with a crispy chocolate craquelin, but the true highlight is the Oreo Cheesecake Filling. This decadent filling combines crushed Oreos with mascarpone cheese, blended with sweetened whipped cream to create a seriously mouthwatering treat.
The Dutchess
Song Rec - 22 (Taylor Swift)
Quote of the Day
“There will be times in life when you need to stand up for yourself. Times when the right thing is to back down and apologize. Times when the right thing is to fight, times when the right thing is to turn and run. Times to hold on with all you have and times to let go with grace. Sometimes the right thing to do is to throw out the old schools of thought in the name of progress and reform. Sometimes the right thing to do is to listen to the wisdom of those who have come before us. How will you know what the right choice is in these crucial moments? You won’t. - Taylor Swift
I don’t know about you, but I’m feeling 22. Everyone will be alright if you keep me next to you!!