Cloud and data centers, the chip industry s strongest sector, may be its next problem: Signs are showing growth could slow in what has been a pillar during the COVID era as consumers signed up for
By Jane Lanhee Lee (Reuters) - Cloud and data centers, the chip industry's strongest sector, may be its next problem: Signs are showing growth could s.
Nvidia Corp on Tuesday told investors that it is focused on maintaining growth with new products, including speedier data center chips, rather than embarking on more aggressive stock buyback plans as some shareholders had hoped.
Nvidia chief financial officer Colette Kress told an investors’ meeting that the company’s priority is using cash to expand its business.
Nvidia has bought back US$2 billion in stock this quarter, she said.
However, the company has not increased its budget for repurchases.
Nvidia has US$5 billion of buyback authorization left, Kress said.
Some investors had been eyeing additional buybacks after Nvidia walked away from a US$40 billion plan to
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