NVIDIA Receives $200 Million Advance Payment from Microsoft
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Public Relations Manager
For Immediate Release
SANTA CLARA, CA — April 18, 2000 — NVIDIA™ Corporation (Nasdaq: NVDA) today announced that it has received $200 million from Microsoft® Corporation, which is a contractual advance payment against NVIDIA's future supply of its graphics processing units (GPUs) that will be included in Microsoft's X-Box. The X-Box is a new videogame console that is currently under development by Microsoft. In early March, NVIDIA agreed to develop and sell custom-designed GPUs for the X-Box and to license certain technology to Microsoft and its licensees for use in X-Box. The agreement between Microsoft and NVIDIA was announced on March 10, 2000, by Bill Gates, Microsoft's chief software architect, at the Game Developer's Conference in San Jose, California.
The computing industry recognizes NVIDIA as the global leader in advanced graphics processing technology for mainstream platforms, awarding the company the most awards in the history of the PC industry. The unmatched breadth of the NVIDIA product family enables gripping multimedia experiences for the entire desktop computer market from workstations to internet-enabled appliances. In use by large corporations, small- to medium-sized businesses, and home-based consumers, NVIDIA products are the solutions of choice for the top PC OEMs, add-in card designers, and system builders worldwide. NVIDIA graphics processors deliver superior performance and crisp visual quality for PC based applications such as manufacturing, science, e-business, entertainment, and education. For more information, please visit the Company's web site at http://www.nvidia.com.
Certain statements in this press release, including the statements relating to the Company's performance expectations for NVIDIA's family of products and expectations of continued revenue growth, are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Such risks and uncertainties include, but are not limited to, manufacturing and other delays relating to new products, difficulties in the fabrication process and dependence of the Company on third-party manufacturers, general industry trends including cyclical trends in the PC and semiconductor industries, the impact of competitive products and pricing alternatives, market acceptance of the Company's new products, and the Company's dependence on third-party developers and publishers. Investors are advised to read the Company's Annual Report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission, particularly those sections entitled "Factors Affecting Operating Results," for a fuller discussion of these and other risks and uncertainties.
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