Sabotage Suspected In Huge Deadly Blast In Russian Muslim-Majority Republic

A massive explosion which appears the result of sabotage or even a possible bombing rocked the Chechen capital of Grozny on Saturday. 

Local authorities say a fuel tank exploded at a fuel station, resulting in a large blast and fire which left four bystanders dead, including two children, the Russian region’s emergency authority confirmed. The fuel station is reportedly located near a college.

Stillframe of video from Saturday blast.

Statements suggest that authorities believe it was either an attack or else severe neglect: “Ramzan Kadyrov, the leader of Chechnya, said on Telegram that he had taken the situation under his personal control. He said that those responsible for the blast would be brought to justice, but did not give further details.”

There have been other recent ‘mystery’ blasts in the region, as Reuters details: “Explosions at fuel stations in the neighboring region of Dagestan in September 2024 and August 2023 killed 13 people and 35 people, respectively.”

Though very far away from fighting in Ukraine – as Chechnya is all the way over in the Caucuses next to Georgia – Chechen troops have been very active among Russian forces along the Ukraine front lines.

Given the context of war, suspicion for the blast is likely to fall on the possibility of some kind of Ukraine-connected sabotage op, as has been happening throughout Russia proper since the war began. But there have long been immense tensions between Chechen leaders and neighboring republics, and the incident could have something to do with this internal feud.

Footage from the scene of the fuel station explosion show a massive fireball which sent debris flying in all directions:

Newsweek has provided the following recent context:

Chechnya is largely ruled by Ramzan Kadyrov, a pro-Russian strongman installed by the Kremlin after two devastating wars involving Chechen separatists and Islamic fundamentalists in the 1990s and 2000s. In recent months, Russian infrastructure and military facilities have been hit repeatedly by Ukrainian drones, though the cause of Saturday’s explosion is unclear.

Tensions have surged in Russia’s restive Caucasus region, which includes Muslim dominated Chechnya, with Kadyrov this week threatening to declare a “blood feud” against Russian lawmakers from the neighboring regions of Dagestan and Ingushetia who he said were involved in a plot to assassinate him.

Chechen Republic Ramzan Kadyrov 

No official explanation for what caused the deadly blast has yet to be given. Certainly it’s high unlikely that a drone could have made it all the way to Grozny from the Black Sea region, suggesting this was connected to regional politics.

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Originally Posted at; https://www.zerohedge.com//


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Ahead of Nvidia’s earnings report on Wednesday after the bell, a new report from The Information reveals that the world’s most valuable company has requested suppliers to redesign the racks for new Blackwell graphics cards to address overheating issues. 

According to the report…

In recent months, Nvidia has asked its suppliers to change the design of the racks several times as it has tried to overcome the overheating problems, according to Nvidia employees who have been working on the issue, as well as several customers and suppliers with knowledge of it. Word of the repeated design changes has sparked anxiety among customers about a potential delay in when they will be able to use the racks.

In August, Bloomberg reported that Nvidia’s highly anticipated Blackwell series of AI chips encounteredengineering snags,” which signifies the mounting challenges of meeting customer demand for its AI GPUs. 

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Now, though, some big customers are concerned. While Nvidia often changes its server designs before launch, changes to the Blackwell racks have come late in the production process, according to several customers and suppliers. However, Nvidia may still be able to deliver the racks to customers by the end of the first half next year, in line with its original schedule, and it hasn’t notified customers of a delay.

Meta Platforms, Elon Musk’s xAI, and Microsoft are some of Nvidia’s largest customers. Next year (likely in the second half), Nvidia will deliver new Blackwell racks to server farms.

The Information’s report comes ahead of a major earnings catalyst for the world’s most valuable company on Wednesday after the bell. 

Goldman’s Toshiya Hari recently published a note on Nvidia, indicating “GS Research is bullish here…” 

  • GS Research is bullish here as Toshi models $34.3bn (+14% qoq, +90% yoy) in revenue, 75.4% in non-GAAP gross margin (excl. SBC) and $0.79 in non-GAAP EPS (excl. SBC) – all above cons. The magnitude of Nvidia’s revenue beats have narrowed over the last few quarters, but could expand again in CY2025 driven by Blackwell. Though Toshiya expects FY1Q to be the true ‘break out’ quarter in which the ramp of Blackwell coupled with improved supply-side conditions drives meaningful positive EPS revisions, he expects FY3Q guidance and management commentary on the earnings call to support his constructive thesis. Four of Nvidia’s largest customers (GOOGL, META, MSFT and AMZN) reported earnings with GOOGL, MSFT and AMZN explicitly stating or implying that supply, not demand, remains a constraining factor.

  • Investor sentiment skews positive into results on Nov 20th (desk thinks sentiment = 9 out of 10, up from last qtr) with investors focused on the upcoming Blackwell product ramp as well as broader commentary around visibility and ROIs / use-cases for GenAI (think: Agents / Assistants, robotaxis, etc). Into CY25, key debates on the stock are around linearity of spending as LLMs continue to scale, customer diversification (think: Enterprise, Sovereigns) and margins (GMs/mix + Opex/R&D). Hedge funds have net bought AI stocks since October, and investors for the most part plan to maintain long positions.

In recent sessions, some of Nvidia’s most active options have been calls linked to shares soaring to $155 and $162.50 after earnings. Nvidia shares closed Friday at $141.98. Shares are up 187% on the year. About 1% of the float is short.

Shares are about 2% lower in premarket trading.

Meanwhile, insiders have been dumping shares…

All eyes will be on Nvidia ER on Wednesday. 

Tyler Durden
Mon, 11/18/2024 – 07:20

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