Nvidia earnings, Big Tech's White House visit, protein prices and more in Morning Squawk

In a landscape heavily influenced by advancements in artificial intelligence, Nvidia has reported impressive fourth-quarter earnings that surpassed Wall Street's expectations. The chipmaker experienced a remarkable 75% growth in its core data center business, contributing to a staggering 73% increase in overall sales. Although Nvidia has provided optimistic guidance for the upcoming quarter, its shares showed only a modest increase during after-hours trading. Next week, executives from leading tech companies, including Amazon, Meta, and OpenAI, will convene at the White House for a pivotal meeting with President Donald Trump. They are set to sign a commitment to self-sustain their AI data centers’ energy needs. This meeting comes on the heels of Netflix CEO Ted Sarandos' visit to the White House, aimed at discussing the streaming service’s acquisition of Warner Bros. Discovery, following Trump’s call for Netflix to dismiss board member Susan Rice, a former Obama administration figure. In other news, former Treasury Secretary Larry Summers announced he would step down from his teaching position at Harvard University amidst scrutiny of his ties to Jeffrey Epstein. Similarly, Dr. Richard Axel, a Nobel Prize laureate, revealed his resignation from a leadership role at a Columbia University institute, expressing regret about his past association with Epstein. Bill Gates also addressed his connections to Epstein during a recent town hall, emphasizing he did not engage in any illicit activities. Shifting gears to the mobile industry, Samsung launched its latest flagship smartphones, with significant price hikes for the S26 and S26+ models, which are now $100 more expensive than their predecessors. This price increase is attributed to a global shortage of memory chips. Notably, the S26 is the first smartphone featuring Google’s Gemini, which can autonomously manage third-party applications, indicating a competitive edge against Apple’s Siri. On the economic front, President Trump claimed that protein prices are declining, but government data reveals a more nuanced situation. While boneless chicken breasts and ground beef prices have surged since Trump’s return to office, egg prices have significantly dropped due to the waning effects of a bird flu outbreak. Economists suggest these price fluctuations reflect broader market dynamics rather than federal policies. Finally, in a critical move, David Tepper, founder of Appaloosa Management, expressed his discontent with Whirlpool’s management in a scathing letter, accusing them of destroying shareholder value. This sentiment echoes broader concerns among investors as they gear up for the trading day ahead.