Axios

Nvidia's meteoric rise is yielding speculation over whether the run-up is just the beginning or whether the stock is overhyped.

Why it matters: The company's shares surged another 16% today after its blowout earnings report, but the 275% gain over the past year has some questioning whether the AI darling has entered dot-com like euphoria.

Rivian's stock plunged to an all-time low today after the automaker slashed its outlook.

Why it matters: Rivian's fate is intertwined with EV demand, which is falling behind expectations.

State of play: Last night, the company said it expects to produce only 57,000 vehicles this year — about the same as 2023.

• Flat is not good for a company that's supposed to be growing.

The impact: The company is cutting 10% of its salaried workforce.

Reddit has finally publicly filed to go public on the New York Stock Exchange under the ticker "RDDT," Axios' Kia Kokalitcheva writes.

Why it matters: It's a move the company wanted to make for a while, but the market downturn forced it to pump the breaks.

By the numbers: The online forum website brought in $804 million in revenue in 2023, with a net loss of just under $91 million.

• In 2022, it had $667 million in revenue and a net loss of almost $159 million.

What we're watching: Yesterday we noted that Reddit is reportedly eying an unusual move to reward its most loyal users through the IPO.

Here's some welcome relief for parents but bad news for the kids. For the first time since 2019, the tooth fairy is paying less for lost teeth than the year before, Axios' Kelly Tyko writes.

Why it matters: It's a sign that the tooth fairy's helpers — aka parents — are worn down from two years of high inflation.

The big picture: The tooth fairy's national average gift value for a single lost tooth dropped 6% last year, according to a Delta Dental survey of 1,000 parents with children ages 6–12.

The U.S. economy looked better than some global peers' this month. An early read of economic activity shows steadiness alongside cooler prices, while activity in Europe remains sluggish.

What's new: A key survey shows cost pressures for manufacturers and service businesses eased notably in February as both sides of the economy continued to expand.

Here's what's new on Apple TV+, Netflix, Max, Disney+, Paramount+ and Prime Video.

What we're watching: One soccer icon's journey to becoming World Cup champion, Tyler Perry's newest steamy thriller and a live action take on a hit animated show.

In his first speech since November, Fed vice chair Philip Jefferson laid out how he is thinking about policy and the direction of the economy. His key words: "vigiliant and nimble."

Why it matters: The No. 2 official at the central bank laid out the risks that are keeping him — and, it is fair to bet, his policy-setting colleagues — up at night. These things could still go wrong in a basically benign environment.

Yale is the latest university to reverse its pandemic-era test-optional policy and will again require standardized tests scores to apply, underscoring a debate in higher education over how to best vet prospective students.

Why it matters: The correlation between SAT and ACT results and future student success is complicated, surrounded by conflicting research and points of view among school administrators and education advocates.

Hourly workers — especially women and young adults — are working less than they did before the pandemic, according to an intriguing report out this morning.

Why it matters: The drop is the latest indication of how the U.S. labor market has been reshaped since Covid hit.

For the first time since 2019, the tooth fairy is paying less for lost teeth than the year before.

Why it matters: It's a sign that the tooth fairy's helpers — aka parents — are worn down from two years of high inflation.

Dunkin' has introduced new fruit-flavored energy drinks that contain slightly less caffeine than Panera Bread's Charged Lemonades, which led to lawsuits over customer deaths.

Why it matters: Heavily caffeinated beverages like energy drinks are growing in popularity but can carry health risks.