According to Business Insider, Nvidia CEO Jen-Hsun Huang shared his current views on the company in an internal email and said he would not lay off employees if revenue did not meet expectations. This comes after Nvidia made public its financial results for the latest quarter of the fiscal year, and overall the key indicators fell short of expectations, with second quarter gaming revenue of $2.04 billion, down 44 percent sequentially and 33 percent year-over-year.
The influx of used graphics cards into the market as a result of the virtual digital currency crash and the impact of ongoing inflation in the U.S. on consumer purchasing power has also cast doubt on Nvidia’s ability to adequately push inventory to customers through its channel partners.
According to Business Insider, Nvidia CEO Jen-Hsun Huang shared his thoughts on the company’s current operating environment in an email sent to the company. He said Nvidia remains one of the strongest chip companies in the industry and remains optimistic about the demand for its products. He emphasized the artificial intelligence market as a strategic focus and opportunity for the future.
He also added: “In the context of declining revenues we will not lay off employees, instead, employees will also receive a pay raise to take care of your family to avoid the impact of inflation. Right now we will streamline our processes and use of materials to avoid wasting more time and make NVIDIA faster, leaner and more agile.
