2026-08-27
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This is The World in Brief from The Economist.
Our top stories.
NVIDIA reported record quarterly sales of $96 billion and profits of almost $60 billion,
up 106% and 126% respectively from a year ago, and beating analysts' forecasts for a 15th straight quarter.
Shares in the chip giant initially fell amid questions over the sustainability of the artificial intelligence boom,
but recovered in after-hours trading.
The company posted a projected revenue of $108 billion for the next quarter, also outstripping all forecasts.
Meta agreed to pay as much as $16.7 billion to settle a blockbuster lawsuit brought by a group of 29 American states.
The lawsuit claimed that the social media giant designed Facebook
and Instagram to keep children addicted and misled the public about the risks.
The proposed settlement mandates new restrictions on Meta's platforms,
including limits to the amount of time young people can spend scrolling.
At least 150 people died and hundreds more were missing
after floods devastated communities along Nepal's border with Tibet.