📈 Nvidia Surges, Banks Bounce Back as Caution Lingers
AI isn’t cooling off, and neither are Canada’s banks. Nvidia once again shattered expectations with record-breaking earnings driven by relentless demand for AI infrastructure. Meanwhile, RBC, BMO, and Scotiabank delivered strong profit growth, a sign that economic uncertainty may be easing, at least for now.
AI isn’t cooling off, and neither are Canada’s banks. Nvidia once again shattered expectations with record-breaking earnings driven by relentless demand for AI infrastructure. Meanwhile, RBC, BMO, and Scotiabank delivered strong profit growth, a sign that economic uncertainty may be easing, at least for now. But with tariffs still clouding the horizon and central banks keeping investors guessing, the cautious optimism is hard to miss.
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Let’s see where the markets take us next.
4 Minute Read:
Here's how some major markets/indexes performed in the last 5-days:
- Dow Jones: 45,544 (-0.13%)
- Nasdaq 100: 23,415 (-0.17%)
- TSX: 28,564 (0.89%)
- BTC: 108,288 (-4.58%)
- Ethereum: 4,360 (-8.78%)
(USD)
As of 08/29/2025 at 2:00PM PST
Nvidia Smashes Expectations With Another AI-Fueled Quarter
What happened:
Nvidia has done it again. The world’s most valuable company reported blowout earnings, with Q2 revenue surging to a record $31.4 billion, up 56% year over year, powered almost entirely by soaring demand in its data center segment. Even without selling advanced AI chips to China, Nvidia managed to outpace already-high Wall Street forecasts.
Why it matters:
This wasn’t just a beat, it was a flex. Nvidia’s dominance in AI infrastructure continues to widen as cloud providers, big tech, and enterprise clients scramble to scale up. If U.S.-China chip export rules loosen this quarter, those numbers could climb even higher.
Bottom line:
Nvidia isn’t riding the AI wave. It is the wave. And right now, it's showing no signs of breaking.
Gain Therapeutics (Nasdaq: GANX) is researching innovative therapies that aim to address Parkinson’s disease at its source, not just the symptoms.
Hive Digital Technologies (NASDAQ: HIVE, TSX.V: HIVE) is ramping up operations in 2025 to claim a larger share of the bitcoin network—powered by surplus green energy.
Big Banks Post Big Profits — With a Side of Caution
What happened:
Canada’s top lenders had a strong showing this quarter. RBC, BMO, and Scotiabank all reported double-digit profit growth, with gains of 21%, 25%, and 32% respectively. National Bank was the only one of the Big Four that didn’t beat analyst expectations. BMO is upping its share buyback program, while National is repurchasing 2% of outstanding shares.
Why it matters:
After a string of conservative quarters, banks are loosening their grip on rainy-day funds. RBC, for instance, set aside $881 million for credit losses — lower than the $1 billion markets anticipated. BMO’s leadership signaled growing confidence in the economy as tariff concerns ease, even if not fully resolved.
Bottom line:
Profits are up, provisions are down, but the outlook isn’t without risk. With tariffs still in play and unemployment ticking up, bank CEOs are keeping optimism in check as they look ahead to Q4.
In a world where market fluctuations are part of the daily news cycle, KC Daya, CEO of Clifton Blake, reminds us why real estate has long held a place as the backbone of a strong investment portfolio.
📢 This Week's Selected Company News:
ByteDance Sets Valuation North of $330 Billion as Revenue Climbs
TikTok parent company ByteDance is reportedly valuing itself at over $330 billion as it ramps up share buybacks and posts double-digit revenue growth. The valuation reflects confidence in its core business and international momentum, even as it faces regulatory scrutiny in several key markets.
The move positions ByteDance as one of the world’s most valuable private tech firms, with potential IPO chatter continuing to circulate.
Mayfair Gold Reaches Key Technical Milestones at Fenn-Gib Project
Mayfair Gold (TSX.V: MFG, OTCQX: MFGCF) has reported its Q2 2025 results and confirmed completion of major engineering and metallurgical testing milestones at its 100%-owned Fenn-Gib gold project in Northern Ontario. Highlights include gold recoveries of up to 88.4% and the selection of all engineering contractors required to complete its Pre-Feasibility Study by year-end.
The company also finalized environmental baseline data collection and is preparing to begin the provincial permitting process. A confidence drilling program begins this month as Mayfair works toward de-risking the project and advancing toward development.
Cenovus to Acquire MEG Energy in $7.9 Billion Deal
Cenovus Energy has announced a $7.9 billion all-stock agreement to acquire MEG Energy, aiming to consolidate oil sands assets and drive long-term cost efficiencies. The deal would create one of Canada’s largest oil producers, with daily output topping 1 million barrels.
However, MEG’s second-largest shareholder, Strathcona Resources, is publicly opposing the takeover, accusing Cenovus of exploiting a weakened board to secure the deal below fair value. The transaction is subject to shareholder and regulatory approvals.
📬 That’s a wrap for this week!
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