Nvidia rapidly expanding workforce in Israel

Nvidia offices credit: Nvidia
Nvidia offices credit: Nvidia

The recruitment drive comes in the wake of the May announcement that the company is developing a supercomputer in Israel.

In recent weeks the number of job vacancies at AI intelligence computing giant Nvidia (Nasdaq: NVDA) in Israel has been growing significantly. There are currently 250 vacancies at the company and in the past week alone 156 new positions have been added, according to LinkedIn. Sources close to the matter have told "Globes" that in the coming weeks, dozens more vacancies will be added and that the rate of hiring will continue to grow accordingly in Nvidia's Israeli activities.

This recruitment drive comes in the wake of the company's announcement in May about a range of key products that it intends developing in Israel, the main one of which is the Israel-1 Supercomputer.

In May 2022, Nvidia opened its new offices in Tel Aviv in the Tou Towers complex on Yitzhak Sadeh Street. The offices extend over eight floors and joins the company's Israel headquarters in Yokneam, as well as offices in Jerusalem, Ra'anana, Kiryat Gat and Beersheva.

Nvidia's expansion in recruitment comes after a long period of a slowdown in hiring. In May 2022, Nvidia announced plans to hire about 1,000 new employees in Israel. But several weeks later, the company said it would be slowing down hiring, citing the global macroeconomic environment and rising inflation as reasons for the move.

In recent months Nvidia's stock has been on the rise, among other things because it has become the first chip company to reach a market value of over $1 trillion, alongside tech giants Apple, Microsoft, Alphabet (Google's parent company) and Amazon.

Nvidia's share price is currently 1.59% higher on Nasdaq at $453.84, giving a market cap of $1.121 trillion.

At the start of the year Nvidia had about 26,000 employees, according to its filing with the SEC, including 3,200 in Israel.

Published by Globes, Israel business news - en.globes.co.il - on August 7, 2023.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.

Nvidia offices credit: Nvidia
Nvidia offices credit: Nvidia
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