The economy really is taking a toll on the tech industry, as NVIDIA is now becoming one of the first big tech companies to announce a pull back on hiring people now. The company reportedly expects the sale of GPUs and gaming consoles, including PCs, to decline in the current quarter as the gaming market is slowing down.
Although the company had a really great previous quarter with revenue up to 46% better than last year at $8.29 billion, it’s still clear to know that they are gearing up for the largest wave of new products in the history.
However, the company is still forecasting slower revenue than the market expected for the next quarter and internally the company is also bracing for a very big slow down. NVIDIA is now joining a lot of other new tech companies, including lift, Uber and Snapchat announcing slowdowns in hiring as other tech companies have also been hit particularly badly by economic issues because of COVID lockdowns in China and the Ukrainian war.
