Nvidia CEO Jensen Huang downplayed the negative impact from President Donald Trump’s tariffs, saying there won’t be any significant damage in the short run.

“We’ve got a lot of AI to build … AI is the foundation, the operating system of every industry going forward. … We are enthusiastic about building in America,” Huang said Wednesday in a CNBC “Squawk on the Street” interview. “Partners are working with us to bring manufacturing here. In the near term, the impact of tariffs won’t be meaningful.”

Trump has launched a new trade war by imposing tariffs against Washington’s three biggest trading partners, drawing immediate responses from Mexico, Canada and China. Recently, Trump said he would not change his mind about enacting sweeping “reciprocal tariffs” on other countries that put up trade barriers to U.S. goods. The White House said those tariffs are set to take effect April 2.

“We’re as enthusiastic about building in America as anybody,” Huang said. “We’ve been working with TSMC to get them ready for manufacturing chips here in the United States. We also have great partners like Foxconn and Wistron, who are working with us to bring manufacturing onshore, so long-term manufacturing onshore is going to be something very, very possible to do, and we’ll do it.”

Shares of Nvidia have fallen more than 20% from their record high reached in January. The stock suffered a massive sell-off earlier this year due to concerns sparked by Chinese artificial intelligence lab DeepSeek that companies could potentially get greater performance in AI on far-lower infrastructure costs. Huang has pushed back on that theory, saying DeepSeek popularized reasoning models that will need more chips.

Nvidia, which designs and manufactures graphics processing units that are essential to the AI boom, has been restricted from doing business in China due to export controls that were increased at the end of the Biden administration.

Huang previously said the company’s percentage of revenue in China has fallen by about half due to the export restrictions, adding that there are other competitive pressures in the country, including from Huawei.

Darden Restaurants on Thursday reported weaker-than-expected sales as Olive Garden and LongHorn Steakhouse underperformed analysts’ projections.

Shares of the company were up in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

Darden reported fiscal third-quarter net income of $323.4 million, or $2.74 per share, up from $312.9 million, or $2.60 per share, a year earlier.

Excluding costs related to its acquisition of Chuy’s, Darden earned $2.80 per share.

Net sales rose 6.2% to $3.16 billion, fueled largely by the addition of Chuy’s restaurants to its portfolio.

Darden’s same-store sales rose 0.7%, less than the 1.7% increase expected by analysts, according to StreetAccount estimates.

Both Olive Garden and LongHorn Steakhouse, which are typically the two standouts of Darden’s portfolio, reported underwhelming same-store sales growth. Olive Garden’s same-store sales rose 0.6%. Analysts were anticipating same-store sales growth of 1.5%. And LongHorn’s same-store sales increased 2.6%, missing analysts’ expectations of 5% growth.

Darden’s fine dining segment, which includes The Capital Grille and Ruth’s Chris Steak House, reported same-store sales declines of 0.8%.

The last segment of Darden’s business, which includes Cheddar’s Scratch Kitchen and Yard House, saw same-store sales shrink 0.4% in the quarter.

For the full year, Darden reiterated its forecast for revenue of $12.1 billion. It narrowed its outlook for adjusted earnings from continuing operations to a range of $9.45 to $9.52 per share. Its prior forecast was $9.40 to $9.60 per share.

Darden’s fiscal 2025 outlook includes Chuy’s results, but the Tex-Mex chain won’t be included in its same-store sales metrics until the fiscal fourth quarter in 2026.

A federal appeals court ruled that art created autonomously by artificial intelligence cannot be copyrighted, saying that at least initial human authorship is required for a copyright.

The ruling Tuesday upheld a decision by the U.S. Copyright Office denying computer scientist Stephen Thaler a copyright for the painting “A Recent Entrance to Paradise.”

The picture was created by Thaler’s AI platform, the “Creativity Machine.”

The “Copyright Office’s longstanding rule requiring a human author … does not prohibit copyrighting work that was made by or with the assistance of artificial intelligence,” a three-judge panel of the U.S. Circuit Court of Appeals for the District of Columbia said in its unanimous ruling.

“The rule requires only that the author of that work be a human being — the person who created, operated, or use artificial intelligence — and not the machine itself,” the panel said.

The panel noted that the Copyright Office “has allowed the registration of works made by human authors who use artificial intelligence.”

Copyright grants intellectual property protection to original works, giving their owners exclusive rights to reproduce the works, sell the works, rent them and display them.

Tuesday’s ruling hinged on the fact that Thaler listed the “Creativity Machine” as the sole “author” of “A Recent Entrance to Paradise” when he submitted a registration application to the Copyright Office in 2018.

Thaler listed himself as the picture’s owner in the application.

Thaler told CNBC in an interview that the Creativity Machine created the painting “on its own” in 2012.

The machine “learned cumulatively, and I was the parent, and I was basically tutoring it,” Thaler said.

“It actually generated [the painting] on its own as it mediated,” said Thaler.

He said his AI machines are “sentients” and “self-determining.”

Thaler’s lawyer, Ryan Abbott, told CNBC in an interview said, “We do strongly disagree with the appeals court decision and plan to appeal it.”

Abbott said he would first ask the full judicial lineup of the Circuit Court of Appeals to rehear the case. If that appeal is unsuccessful, Abbott could ask the U.S. Supreme Court to consider the issue.

The attorney said the case detailed “the first publicized rejection” by the Copyright Office “on the basis” of the claim that a work was created by AI.

That denial and the subsequent court rulings in the office’s favor, “creates a huge shadow on the creative community” he said, because “it’s not clear where the line is” delineating when a work created by or with the help of AI will be denied a copyright.

Despite the ruling, Abbott said he “was very pleased to see that the case has been successful in drawing public attention to these very important public policy issues.”

The Copyright Office first denied Thaler’s application in August 2019, saying, “We cannot register this work because it lacks the human authorship necessary to support a copyright claim.”

“According to your application this work was ’created autonomously by machine,” the office said at the time.

The office cited an 1884 ruling by the Supreme Court, which found that Congress had the right to extend copyright protection to a photograph, in that case one taken of the author Oscar Wilde.

The office later rejected two requests by Thaler for reconsideration of its decision.

After the second denial, in 2022, Thaler sued the office in U.S. District Court in Washington, D.C., seeking to reverse the decision.

District Court Judge Beryl Howell in August 2023 ruled in favor of the Copyright Office, writing, “Defendants are correct that human authorship is an essential part of a valid copyright claim.”

“Human authorship is a bedrock requirement of copyright,” Howell wrote.

Thaler then appealed Howell’s ruling to the D.C. Circuit Court of Appeals.

In its decision Tuesday, the appeals panel wrote, “This case presents a question made salient by recent advances in artificial intelligence: Can a non-human machine be an author under the Copyright Act of 1976?”

“The use of artificial intelligence to produce original work is rapidly increasing across industries and creative fields,” the decision noted.

“Who — or what — the ‘author’ of such work is a question that implicates important property rights undergirding growth and creative innovation.”

The ruling noted that Thaler had argued that the Copyright Office’s human authorship requirement “is unconstitutional and unsupported by either statute or case law.”

Thaler also “claimed that judicial opinions ‘from the Gilded Age’ could not settle the question of whether computer generated works are copyrightable today,” the ruling noted.

But the appeals panel said that “authors are at the center of the Copyright Act,” and that “traditional tools of statutory interpretation show that within the meaning of the Copyright Act, ‘author’ refers only to human beings.”

The panel said that the Copyright Office “formally adopted the human authorship requirement in 1973.”

That was six years after the office noted in its annual report to Congress that, “as computer technology develops and becomes more sophisticated, difficult questions of authorship are emerging.”

Abbott, the attorney who represented Thaler in the appeal, told CNBC that the Copyright Act “never says” that “you need a human author at all for a work … or a named author.”

Abbott noted that corporations are granted copyrights, as are authors who are anonymous or pseudonymous.

Protecting a ‘beautiful picture’

The Copyright Office, in a statement to CNBC, said it “believes the court reached the correct result, affirming the Office’s registration decision and confirming that human authorship is required for copyright.”

Thaler said that he will continue to pursue his bid for a copyright for the painting.

“My personal goal is not to preserve the feeling of machines,” Thaler said. “It’s more to preserve, how should I say, orphaned intellectual property.”

“A machine creates a beautiful picture? There should be some protection for it,” Thaler said.

As women’s sports surge in popularity, professional leagues are increasingly touting the value of female athletes. New professional leagues like SailGP are launching with the advantage of building from the ground up, with gender diversity as part of their DNA.

Noncontact and noncollision sports are leading the way. Formula 1′s F1 Academy has created a pipeline for women into motorsports, with a goal of increasing female participation and representation on and off the racetrack. At the same time, it’s drawing a more diverse fanbase. Roughly 41% of F1 fans now are female, with women aged 16 to 24 years old making up the fastest-growing fan group, according to Nielsen Sports.

Professional male and female athletes are already competing alongside and against each other in the United Pickleball Association’s unified league, the Global Mixed Gender Basketball league and in SailGP, the international sailing league co-founded by Oracle founder Larry Ellison and champion yachtsman Russell Coutts. 

Founded in 2018, the upstart sailing league involves 12 international teams racing on high-speed, 50-foot catamarans known as F50s. At speeds of more than 60 mph, SailGP is gaining a reputation as a sort of Formula 1 on the water.

“The whole goal is to train athletes to be capable of racing on an F50, which is one of the more complex boats in the world — maybe the most difficult boat to race in the world right now,” said Coutts, who is also SailGP’s chief executive officer. 

The league didn’t set out with gender equity goals in mind, Coutts said, but simply sought to create the most compelling competition.  

“We believe that male and female athletes can compete at the top of our sport against each other and with each other, so when we we saw that there was a difference in participation levels — and didn’t really see any logical reason for that — we took some steps to address that and we’ll take further steps in the future,” said Coutts. 

To bridge the experience gap most female sailors face, SailGP created programs to draw and train talent. In December, its Women’s Performance Camp in Dubai, United Arab Emirates, marked its largest on-the-water women’s athlete training camp to date. 

The league also requires each team to have at least one female athlete onboard during races and has set targets to have at least two female athletes per race crew in key positions within the next five years. Those key positions are the driver, who steers the boat; the strategist, who advises on tactics; the wing trimmer, who adjusts the 85- to 90-foot carbon-fiber wing sail; and the flight controller, who dictates how high or low the boat flies over the water.

The next SailGP races take place Saturday and Sunday in San Francisco, the second in back-to-back U.S. weekend races. 

SailGP has embedded inclusivity and sustainability into the competition via an Impact League that runs parallel to the on-the-water championship. Teams earn points for taking action to make sailing more accessible and to protect the environment in order to reach the podium. Winning teams earn cash prize donations to their partners. The Canadian team is in the lead in the Impact League thanks to its work to offer training opportunities, sailing camps and demo days to introduce foiling to new Canadian athletes.

“That changes the mindframe of very competitive people to care, and to compete, in a world of impact and sustainability as well,” said SailGP Chief Marketing Officer Leah Davis. “When you challenge the world’s most competitive people to be good at something else, they will turn their eyes to that pretty quickly, and in a pretty impactful way.”

Off the water, 43% of SailGP’s C-suite is female, up from just 14% in 2021. For comparison, 29% of C-suite roles at Fortune 500 companies are held by women, according to McKinsey’s Women in the Workplace 2024 report. The league last year introduced Apex Group’s accelerator program, aimed at increasing female representation at senior levels of the company. 

It has also introduced initiatives to train more women on the operations, technology and boat-building side of the business. For example, SailGP Technologies based in Southampton, U.K., offers an apprenticeship training scheme — eight participants join the program each year, four male and four female. Today, 33% of directors at SailGP and 52% of heads of departments are female.

The overall business strategy is helping to grow the league’s appeal to a new set of fans. For the first time in its history, more than half of the ticket holders in attendance at last season’s New Zealand Championships in March were female, a trend that has held steady this season.

“This demographic has been underserved in sports,” said SailGP Chief Purpose Officer Fiona Morgan. “A huge part of our headroom in fans is young fans — and actually they’re female fans — who probably didn’t think about sailing, but they like extreme sports or sustainability, or they like sports that have gender equity at the heart.”

In June, Tommy Hilfiger was announced as the United States SailGP team’s official lifestyle apparel partner, joining brands such as Red Bull, Emirates, Mubadala, Rockwool and Deutsche Bank in sponsoring individual teams. In November, SailGP announced it had signed Rolex as its first title sponsor.

“I don’t think many brands nowadays will go into sponsorship that doesn’t have diversity or equity at some point in it,” said Morgan. “Their consumers and their investors will ensure they do that.” 

In September, the league achieved a major milestone, announcing its first female driver. Two-time Olympic sailing champion Martine Grael joined for the 2024-25 season to skipper the new Mubadala Brazil SailGP Team, making history and immediately climbing the leaderboard. 

After championships in Dubai, Auckland, New Zealand, Sydney and Los Angeles, teams from the UK, Australia and New Zealand are leading the league. Grael has steered her team ahead of the Germany SailGP team, and is proving competitive against the more experienced United States team.

“In the past — and still nowadays — you see a lot of people say, ‘Girls shouldn’t do that,’” Grael said. Her response is to call out that old way of thinking: “Shouldn’t do what?”

Grael credits much of her early success to familiarizing herself with the boats using SailGP’s simulator, developing muscle memory before even getting on the water. Unlike traditional boats built with male sailors in mind, SailGP’s modern foiling boats open opportunities for women in roles that do not require as much physical strength, she said. Knowing when to push a button and developing a good feel for the boat are equally important to the more physical functions, said Grael. 

“Some guys have failed to understand that a girl is very much capable of doing the same role they’re doing,” she said.

Grael is among a number of top female athletes competing in key positions in SailGP — including Emirates Great Britain Team’s strategist Hannah Mills and the U.S. team’s Anna Weis — and says though women are still in the minority, things are changing.

Together with women competing in marquee races — like Switzerland’s Justine Mettraux, who took eighth place in the Vendée Globe single-handed, nonstop, nonassisted round-the-world race this year — they are carving a path for a new cohort of women to gain opportunities and make their mark.

“We have been less limited — I grew up never being told I shouldn’t do something,” said Grael. “There’s a big generation of others looking at us, and they’re going to come out strong.”

Klarna, the buy now, pay later lender that’s headed for an initial public offering, said on Thursday that it’s signed on DoorDash as a partner, another sign of momentum for public market investors.

It’s DoorDash’s first BNPL alliance and gives users of the restaurant delivery service a new way to pay for meals. Klarna said in a press release that DoorDash customers will be able to pay in full at checkout, split payments into four equal interest-free installments, or defer to dates that align conveniently with payday schedules.

Klarna, which is headquartered in Sweden, filed its prospectus last week to list on the New York Stock Exchange. Revenue last year increased 24% to $2.8 billion, and adjusted operating profit was $181 million, swinging from a loss of $49 million a year earlier. CNBC reported on Monday that Klarna will be the exclusive provider of buy now, pay later loans for Walmart, taking a coveted partnership away from rival Affirm.

“Our partnership with DoorDash marks an important milestone in Klarna’s expansion into everyday spending categories,” said David Sykes, Klarna’s chief commercial officer, in Thursday’s release.

Klarna, founded in 2005, said in its prospectus that it has 675,000 merchant partners in 26 countries. It’s among the most hotly anticipated IPOs of the year following an extended stretch of historically little activity for new offerings.