Nvidia Reorganizes Cloud Division and Pivots Focus, The Information Reports
Tiger Newspress08:15
Nvidia restructured its cloud division last week and stepped back from directly competing with major cloud providers, The Information reported, citing people familiar with the matter and an internal memo.
This comes more than two years after CEO Jensen Huang outlined a vision to build a cloud computing service capable of rivaling Amazon (AMZN) Web Services.
The restructuring reassigned the head of the cloud unit along with several related executives, while others left the company. Going forward, Nvidia’s DGX Cloud team will pivot toward supporting internal engineering and infrastructure needs.
Shares of Nvidia rose 3% to close at $189.21 on Tuesday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
