The chipmaker Nvidia has warned of trouble ahead and that it is pulling back on new hiring.
The move lines up with 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.
CEO Jensen Huang said that while Nvidia had a solid previous quarter, with revenue up 46 per cent over last year to $8.29 billion and was “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, it is expecting to see lower revenue.
Word on the street is that the company appears to be bracing for a slowdown and the leaders want to want to take a pause to onboard the “thousands of new hires we’ve recently made”.
Nvidia is not the only one – Lyft, Uber and Snap, have announced hiring slowdowns. Nvidia was expected to weather events due to continued strong demand in the GPU market that has kept prices high and supply short.
