NVIDIA reportedly slows down hiring as it braces for a drop in gaming sales

 

A slowing economy continues to affect the tech industry, as NVIDIA has become one of the first chipmakers to announce a pullback on new hiring, according to memos seen by The New Indian Express and confirmed by Protocol. That lines up its comments during its latest earnings release, when it said that it expects sales of GPUs for gaming consoles and PCs to decline in the current quarter. "Overall the gaming market is slowing," CEO Jensen Huang told Reuters. 

NVIDIA actually had a solid previous quarter, with revenue up 46 percent over last year to $8.29 billion. It also noted that its "gearing up for the largest wave of new products in our history" with new GPU, CPU, DPU and robotics processors coming online in the second half of the year.