Nvidia CFO Says Chipmaker Could Spend Cash on M&A [Video]

Nvidia (NVDA) may use its growing stockpile of cash on mergers and acquisitions, Chief Financial Officer Colette Kress said Tuesday. 

The chipmaking giant would consider investing “in some M&A form,” Kress said at the UBS Global Technology and AI Conference, according to a transcript provided by AlphaSense.

“It leads to thinking about new types of business models that we may want to add and focus on in new areas of AI,” Kress said.

Nvidia, one of the two most valuable companies in the world, has seen insatiable demand for the its family of artificial intelligence (AI) chips, including its next generation Blackwell graphics processing units.

The company ended its fiscal third quarter with $38.5 billion in cash, cash equivalents and marketable securities, up from $34.8 billion a quarter earlier.

Nvidia shares were little changed intraday Tuesday but have rocketed 180% higher in 2024.