Graphics card mega-company nVidia is making desperate attempts to reassure the world markets that Microsoft is not poised to drop the company’s GeForce-based graphics technology from its Xbox console.
Speculation that Microsoft is already in the planning stages of preparing its new machine, without consulting nVidia, has gathered pace in the weeks following nVidia’s high Xbox-driven financial results and the subsequent leap in share price.
Speaking at the Robert Stephens Technology Conference, Michael Hara, nVidia’s Vice President of Investor Relations simply said, “It’s all speculation,” whilst tabling the fact that he expected the next generation of Xbox to come, “later rather than sooner.”
nVidia has seen staggering losses on the stock exchange, closing at $49.92 as of last Friday, down 19.7% on the February 14 price, the date it reported its earnings. Yesterday saw them fare a little better, with a rise of 7.8% to $53.83
In more bad news for nVidia, the company has been forced to announced that it has upped its internal audit, following the start of a Securities and Exchange Commission investigation into an alleged case of improperly shifting costs of $3.6 million during the time of the Xbox’s launch production run last year.