Nvidia stock up 7.63% overnight after blockbuster earnings call: ‘I think the whole market was like, ‘Whoa,’ analyst says 

Good morning. On Fortune’s radar today:

DeepMind is losing the war for AI talent.

Nvidia stock jumps 7.63% overnight after eye-popping Q2 earnings call.

Markets: U.S. futures up, mixed in Asia and Europe.

Growth in real household disposable income has flatlined in the U.S.

Private credit: the ‘shadow default’ rate is on the rise.

Countries of the world ranked by vulnerability to AI disruption.

How much money you need to support a tradwife, state by state.

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Google DeepMind is losing the AI talent war to rivals 

Google DeepMind was once the leading destination for AI research talent—especially in Europe—but it is now on the losing side of that contest, according to staffing data exclusively shared with Fortune’s Bea Nolan. A new analysis from Zeki Data, a U.K.-based data intelligence company, shows that where OpenAI and Anthropic are making gains in the AI talent market, Google DeepMind and, to some extent, Meta are stumbling. 

The new data from Zeki suggests DeepMind’s share of research and advanced-engineering hires across Europe, the Middle East and Africa fell from 49% in 2022–23 to 18.6% in 2025–26—the sharpest market-share drop that Zeki recorded for a major AI lab in any region.

“They had the crown in Europe forever, and then it started to erode from a very high base,” Tom Hurd, cofounder of Zeki Data, told Fortune. “The likes of Microsoft AI Superintelligence and Meta Superintelligence are eating into their market share, and then there’s OpenAI and Anthropic on the side.”

Nvidia stock up 7.63% overnight on another blockbuster earnings call

Nvidia’s stock was up 7.63% in after-hours trading, after the company reported it had doubled its revenue and profit year-over-year in its second quarter, and forecast sales in the current quarter that topped analyst estimates, amid red-hot demand for its AI chips.

Revenue in the three months ended July 26 totaled $96.2 billion, up 18% over last quarter and 106% from the year-ago period, the company reported Wednesday—crushing analyst estimates of $92.2 billion, Fortune’s Amanda Gerut reports.

“I think the whole market was like, ‘Whoa, 70%,’” analyst says 

In a rare move, the chipmaker provided a revenue growth outlook for fiscal 2028 that forecast annual sales to increase 70% from........

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