Nvidia CEO Jensen Huang said today that he expects the company to reap "at least" $1 trillion in revenue for its newest AI chips through 2027.

• Speaking at Nvidia GTC 2026 in San Jose, the company's annual developer and AI conference, Huang was referring to the company's current Blackwell and next-generation Vera Rubin chips.
• And "I am certain computing demand will be much higher than that," he said.

🌐 Why it matters: Nvidia is operating at the center of the AI universe, providing the critical processing infrastructure that powers models like OpenAI's ChatGPT and Anthropic's Claude.

• Investors hang on Huang's comments for clues about whether the massive spending powering the AI race can last, and what area to watch next.

➡️ What he's saying: The AI economy is transitioning to inference models, having moved beyond the training phase, bolstering demand for complex chips.

• "Finally, AI is able to do productive work, and therefore the inflection point of inference has arrived," Huang said.

🤖 And he spent a lot of time today talking about agentic AI.

• He heaped praise on a new open-source AI agent called OpenClaw, calling it "profound" and saying it's the most popular open-source project "in the history of humanity," topping Linux "in just a few weeks."
• He then unveiled Nvidia NemoClaw, which uses an agent toolkit to interact with OpenClaw, allowing users to operate their agents with additional security controls.

🔮 What's next: Software as a service (SaaS) companies — which investors have worried will be damaged by AI agents — will become "AaaS" companies, or "agentic AI as a service," Huang predicted.

• Instead of selling software, they'll sell agents that help clients build software.

The impact: Nvidia shares popped 2.5% on the revenue forecast, but settled into the close. The stock ended the day up 1.6%.

Union workers went on strike this morning at a major beef processing plant owned by JBS, Axios' Pete Gannon writes.

• 🥩 Why it matters: The plant in Greeley, Colorado, accounts for roughly 5% of the country's beef-processing capacity, per WSJ.
• Beef prices are already at record highs as meatpackers have been grappling with tight U.S cattle supplies for several years.

Zoom in: About 3,800 workers represented by the United Food and Commercial Workers Local 7 joined the strike Monday, AP reported.

• JBS spokesperson Nikki Richardson said the company is operating the Greeley plant "to the best of our ability" with fewer workers, and expects to scale as the week progresses if more workers return.
• The Brazil-based company is also adjusting production across its U.S. network to maintain supply and "minimize disruption for consumers and retailers."

🪧 Friction point: UFCW Local 7 opted out of a national contract agreement reached last year between JBS and the UFCW International.

• The union is pushing for higher wages and compensation for protective equipment.

📊 The SEC is reportedly preparing a proposal that would eliminate the quarterly reporting requirement, allowing companies to report results twice a year. (WSJ)

🍏 Apple acquired MotionVFX, a video editing company that works inside Apple's Final Cut Pro, part of the company's new subscription Creator Studio. (CNBC)

The next time you hop on a bike at the gym, it might be a Peloton.

• The company that built its brand around home exercise equipment today introduced a new Commercial Series for high-traffic gyms and fitness studios.

State of play: The new products represent Peloton's continued effort to broaden its product landscape, including its recent introduction of AI-powered personal coaching.

• The Commercial Series starts with a connected bike and a connected treadmill.
• It arrives in late 2026.

Behind the scenes: Peloton's Precor unit is leading the product development and hardware engineering of the new commercial line.

• Peloton's team is handling the software and design.

💭 Nathan's thought bubble: I've seen random Peloton bikes at the gym before, but this reflects a more intentional strategy to tap into a potentially lucrative space.