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Nvidia pointed to an expectation that the challenging market conditions will be a persistent threat to their business and others throughout the third quarter to follow.

Huang reportedly assured staff that they wanted to help them withstand the ongoing effects of higher inflation and that they would be focusing on making the company leaner and more agile by eliminating wasteful processes rather than cutting personnel. Huang also cited macroeconomic conditions as having detrimental effects on sell-through and commented that the company was taking action with gaming partners to make necessary adjustments to prices and inventory holdings.įollowing the preliminary release, the company’s stock price immediately dropped more than 8%.ĭespite this, Nvidia is rumored to be giving their staff pay increases instead of instigating layoffs, as indicated by a supposedly leaked company email and reported on by Business Insider. Founder and CEO, Jensen Huang, took the opportunity in his statement to defend the quality of their products and said that the company would “remain focused on the once-in-a-generation opportunity to reinvent computing for the era of AI.”