Technology Roundup – Amazon plans five new solar projects, Nvidia posts strong FQ1

Published on: May 21, 2020
Author: Amy Liu

Amazon plans five new solar projects, first in China

Amazon (NASDAQ:AMZN) says it is planning five new utility-scale solar projects in China, Australia and the U.S. that further support its commitment to reach 80% renewable energy by 2024 and 100% renewable energy by 2030 or perhaps as early as 2025.

One of the new projects is a 100 MW solar project in Shandong that will be Amazon’s first renewable energy project in China.

The other projects include Amazon’s second renewable energy project in Australia, a 105 MW facility, plus two new projects in Ohio and another in Virginia.

When complete, the five new projects will total 615 MW of installed capacity and supply ~1.2M MWh of additional renewable energy to the company’s fulfillment network.

Nvidia posts strong FQ1 after closing Mellanox deal

Nvidia (NASDAQ:NVDA) fiscal Q1 results:

Revenue: $3.08B (+39%); Gaming: $1.34B (+27%); Data Center: $1.14B (+80%); Professional Visualization: $307M (+15%); Automotive: $155M (-7%).

GAAP gross margin: 65.1% (+11.5%); non-GAAP gross margin: 65.8% (+11.5%).

Net income: $917M (+132.7%); non-GAAP net income: $1,120M (+106.3%); EPS: $1.47 (+129.7%); non-GAAP EPS: $1.80 (+104.5%).

Cash flow ops: $909M (+26.3%).

Fiscal Q2 guidance: Revenue: $3.65M (+- 2%); GAAP and non-GAAP gross margins: 58.6% and 66.0%, respectively (+- 50 bp).

Nvidia EPS beats by $0.12, beats on revenue

Facebook shifting more permanently to remote work

Facebook (FB +1.4%) is going to shift permanently toward a substantially remote workforce as it looks to recover from the COVID-19 pandemic, CEO Mark Zuckerberg tells employees.

That marks an expansion of a previous stance that all employees could choose work from home at least for the rest of 2020 (a move topped in that sense by Twitter, which granted the option to employees permanently and indefinitely).

But now, some Facebook employees will be allowed to work from home permanently, and the company plans to hire more remote workers. About 50% of its workforce may be entirely remote in 10 years, Zuckerberg expects.

The moves will come gradually and start with senior engineers; in time, new recruits will be offered the choice, as well as current employees with strong performance reviews. And eventually the policy would be extended outside engineering.

Netflix to begin culling inactive accounts

Netflix (NFLX -3.6%) says it’s going to actively ask its inactive members to confirm their membership or see it canceled.

“You know that sinking feeling when you realize you signed up for something but haven’t used it in ages? At Netflix, the last thing we want is people paying for something they’re not using,” the company says.

So it will ask anyone who hasn’t watched anything on the service for a year since they joined to confirm they want to stay a member. And it will ask anyone who’s stopped watching for more than two years to confirm.

Lack of confirmation will mean an automatic cancellation.

That would seem to mark a revenue hit; but the company says “These inactive accounts represent less than half of 1% of our overall member base, only a few hundred thousand, and are already factored into our financial guidance.”

AT&T drops ‘5G Evolution’ marketing phrase

AT&T (NYSE:T) will stop using “5G Evolution” branding to refer to its 4G LTE network after the National Advertising Review Board determined the phrases could be misleading to consumers.

“AT&T respectfully disagrees with the reasoning and result reached by the Panel majority. AT&T’s customers nationwide continue to benefit from dramatically superior speeds and performance that its current network provides. As a supporter of the self-regulatory process, however, AT&T will comply with the NARB’s decision.”