Updated at 12:20 p.m. PST with additional information about salary cuts.
Nvidia is buying up underwater stock options from employees and cutting salaries across the company amid a steep revenue falloff.
On Tuesday, the graphics chip supplier posted a fourth-quarter loss of just under $148 million and a 60 percent drop in revenue as demand for its graphics chips dried up.
"November fell off a cliff," said CEO Jen-Hsun Huang, addressing the decrease in demand, during an earnings conference call Tuesday. Chief Financial Officer Marvin Burkett added that "December was worse."
In the aftermath … Read more