😬 The Rock’s US Army Deal Fails

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Hey Waivly Crew! 🌊 In today’s edition, Warren Buffett’s Berkshire Hathaway cuts its Apple stake by 50% to $84.2 billion. Meanwhile, Dwayne Johnson’s $11 million US Army partnership backfires, hurting recruitment efforts.

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Here’s what’s on the horizon today:

• Berkshire Hathaway slashes Apple stake by nearly 50%

• Army lost recruits after giving $11 million to The Rock

• NVIDIA's Blackwell AI GPUs reportedly delayed

Let’s dive in!

STORIES MAKING A SPLASH

^_FINANCE
Berkshire Hathaway slashes Apple stake by nearly 50%

Warren Buffett’s Berkshire Hathaway has slashed its Apple stake by about 50%, bringing it down to $84.2 billion, according to an SEC filing. Despite being Berkshire’s largest stock holding, Buffett had already cut his Apple investment by 13% earlier this year, possibly for tax benefits.

The sale generated substantial profits for Berkshire, which had mostly avoided tech stocks until investing in Apple in 2016. This reduction might signal a shift in Buffett’s confidence or simply a broader trend of asset sales, including $3.8 billion in Bank of America shares.

This filing follows Apple’s third-quarter report, which highlighted iPad growth but also revealed a second consecutive decline in iPhone sales, partly due to competition from Huawei. CEO Tim Cook announced plans for Apple Intelligence, a new AI suite set to debut this fall.

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^_BUSINESS
Army lost recruits after giving $11 million to The Rock

Dwayne “The Rock” Johnson’s $11 million partnership with the US Army has backfired, negatively impacting military recruitment, a recent report reveals. The Army claims Johnson didn’t fulfill his commitment to post a set number of social media updates promoting the military during the United Football League (UFL) season, leading to a loss of 38 potential enlistments.

The agreement involved Johnson, a UFL co-owner, featuring Army branding on player uniforms and making five posts on his social media channels. However, Johnson only shared two Army-related posts, failing to meet his contractual obligations, according to internal documents.

Now, the Army is seeking to recover $6 million of the investment, citing a lack of confidence in future collaborations with the UFL. Despite the setback, they maintain that Johnson is still a valued partner.

^_AI
NVIDIA's Blackwell AI GPUs reportedly delayed

NVIDIA has uncovered design flaws in its upcoming Blackwell AI chips, potentially delaying their release by at least three months, The Information reports. The company has begun informing major customers, including Microsoft, that shipments, originally set for this year, are now expected to start in early 2025. Google, Meta, and other big players have also placed large orders worth billions of dollars.

Announced in March, the Blackwell chips promised up to 30 times the performance of NVIDIA’s H100 and up to 25 times reductions in cost and energy consumption. However, The Information reports that design issues emerged late in production.

NVIDIA and its manufacturer, Taiwan Semiconductor Manufacturing Company, are conducting test runs to address these problems, with the first major shipments now anticipated in the first quarter of 2025.

CREATOR SPECIAL

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Tuu Ba

Tuu Ba is the founder of StepsInvesting, an app that enhances both health and wealth. By simply walking and staying active, you can drive your investments through your daily steps.

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Pablo Paciello

Pablo Paciello is the developer behind ShipMode, an all-in-one task manager for Indie Makers featuring a ToDo list, Focus Pomodoro, app blocker, and work hour tracker to boost productivity without distractions.

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