5 things to know for May 21: AI, compensation fund, Iran’s weapons, California wildfires, food preservatives - ABC17NEWS

• Nvidia reported first-quarter earnings that exceeded Wall Street expectations, with quarterly revenue surging 85% year-over-year to $81.6 billion. • Despite the explosive growth, analysts and investors are questioning whether infrastructure bottlenecks will eventually limit the pace of AI chip demand.

• Nvidia reported a significant revenue surge of 85%, beating market expectations driven by the ongoing artificial intelligence boom. • Despite the strong financial performance, the company's shares slipped in late trading as investors expressed caution.

• Nvidia reported a record-breaking profit of $58.3 billion, driven by the ongoing global surge in demand for AI chips. • To reward shareholders, the company announced a dividend increase and a massive $80 billion stock buyback program.

• VynZ Research reports that the global AI in cybersecurity market was valued at USD 29.61 billion in 2025 and is projected to grow to USD 35.97 billion by 2026. • The growth is driven by the increasing integration of artificial intelligence to combat sophisticated cyber threats and automate threat detection.

• Funding for Chinese AI start-ups tripled to US$16 billion in the first quarter, driven by heavy investor interest in Large Language Models (LLMs) and robotics. • This surge follows long-term state-led initiatives to prioritize capital flow into strategic sectors, including advanced computing infrastructure, chips, and manufacturing.

• Forbes China released its "2026 AI TOP 50" list on May 17, highlighting the companies driving a global productivity revolution through artificial intelligence. • Minto Technology was recognized for its WorkBrain large model and product matrix, which currently serves over 6,000 enterprise and government clients across Australia, the Middle East, and Southeast Asia.

• Pacvue is introducing AI assistants designed to integrate live retail media data directly into chat interfaces, aiming to replace manual spreadsheets and siloed workflows. • ReplyDeck has launched a new software application that automates the monitoring and response generation process specifically for the Reddit social network.

• European AI and tech stocks are experiencing a strong rally, providing a rare bright spot for equity markets amid broader economic instability. • This growth occurs as energy shocks triggered by the war in Iran threaten to dampen overall economic growth across the region.

• The European AI & Cloud Summit 2026 showcased EU-funded innovations focusing on artificial intelligence and cloud technology integration. • Two primary initiatives, ACHIEVE and EMAI4EU, were highlighted to demonstrate Europe's investment in technological capabilities and digital skills development.

• China is launching a global "AI governance" offensive to challenge U.S. tech leadership, utilizing diplomatic efforts at the United Nations and international summits. • Key initiatives include a September 2025 agreement with ASEAN to establish an AI safety network by 2026 and a joint "AI Plus" action plan to increase regional AI adoption.

• Former Tencent AI lead Liu argues that China is losing the Large Language Model (LLM) race due to a lack of "fanshi," or paradigm-shifting technical breakthroughs. • Liu claims Chinese AI companies are primarily copying the core technical levels of U.S. firms or DeepSeek rather than innovating original architectures.

• Lam Research is integrating AI and sensing capabilities into its semiconductor manufacturing tools to increase productivity and efficiency. • The company is planning to expand its operational footprint within the United States, specifically targeting growth in Arizona and California.