Nvidia Corp (NVIDIA), which is among the top chipmakers in the USA, is now closing up its Russian operations. As the Russia-Ukraine war has entered its 8th consecutive month, it seems that the US chipmaker is now finally ready to move out of the country.
Nvidia had ceased all of its shipments being sent to Russia already... However, the company was still keeping a presence to support all of the employees along with their families. Recently, the company announced it would officially stop all its activities on Russian soil.
The company clarified that the recent developments have made Nvidia unable to operate effectively in Russia. However, that doesn't mean that Nvidia will leave its employees on their own - The company clarified that all the employees would be offered an option to continue their job in some other country.
Among all the big companies that ceased their operations in Russia, the tech company which was among the first was Nvidia. In fact, Nvidia stopped all of its deliveries as early as February, when the Russian invasion had originally begun. Later on, Nvidia also commented on how the war was hurting the company's financial outlook.
If we look at the war developments, there is still no sign of any conclusion... Furthermore, the Russian President has recently annexed multiple Ukrainian regions after a referendum. However, all the major players have rejected the referendum results citing reasons that it was not carried out under a neutral party.
Besides other tech companies, a lot of other big brands have already pulled out of Russia. Among these companies, many had taken this decision to show support to Ukraine. There are also many companies that pulled out of Russia out of fear of sanctions or due to the policy change by the USA.
Now that Nvidia is almost ready to get out of Russia, it seems that some of the revenue generated from Russia will ultimately affect the company's bottom line as well!