Nvidia has announced that it will be cutting around 360 jobs by the end of October to allow the firm to invest money in 'strategic growth areas'.
The cuts, which will account for around 6.5 per cent of its workforce, were announced by Nvidia's Jen-Hsun Huang. He did not detail where they would be made.
"Our action today is difficult, but necessary considering current business realities," Huang said.
"We are taking fast action to enhance our competitive position and restore our financial performance. All of us at Nvidia are determined to emerge from these challenges an even stronger company."