What Nvidia could also be doing with its soaring profits
Nvidia’s announcement raises the stakes facing the AI economy: Will its extraordinary and booming wealth be broadly shared, or will it continue to enrich those who already have significant wealth?
The answer is not to pretend that companies should not return profits to shareholders. But corporate leaders including Nvidia should take meaningful steps to reduce the impact of buybacks on the racial wealth gap and reorient U.S. corporations toward sustainable social and economic prosperity.
It’s a question of balance, because there’s a lot you can do with $235 billion. Even a fraction of that amount could go a long way in supporting Nvidia’s workforce across its global chip-making operations. What about using some of that money to reduce the negative impacts of AI, critical mineral extraction, and AI infrastructure like data centers on workers and communities around the world?
We haven’t seen any comparable announcements from the company about investing in raising wages or improving working conditions across its global operations, and we can’t find any reporting from the company about how it will support workers and communities adversely affected by AI infrastructure.
That’s the next announcement we’re waiting for—and hope comes soon.
