The JPMorgan engineers thriving at NVIDIA
As other tech firms have been making cuts, one technology company has gone from strength to strength in 2023: NVIDIA. The company, predominantly known for developing the AI driven physics engines used in video games, recently announced the creation of a revolutionary AI supercomputer as well as their first quarter earnings... and their stock price has absolutely ballooned.
Since January, Nivida's market cap has more than doubled, growing hundreds of billions to $963.1. That's more than Meta and Netflix (two of the acronymical faces of big tech) combined. 😱.
Finance has a close relationship with tech when it comes to talent. When it comes to video game companies however, they tend to be on the buy side. What makes NVIDIA is a peculiar case, is that several of its senior technologists have come from JPMorgan.
Most notably, ex-JPMorgan MD and head of engineering and product for its AI ecosystem OmniAI, Daryush Laqab joined as director of product management for AI infrastructure last February. Last August, he was joined by executive director Charles Best as a principal architect.
A number of JPMorgan's more niche teams have been of interest to NVIDIA, most notably its UX division. Kent Oberhu, a former director of UX joined in late 2020 while a design lead for its UX platform, Michael Dulin, joined last May. There's also its identity and access management team from which it recruited senior program manager Jaycee Murlidar in May and VP Nilesh Chaudhari in November.
NVIDIA appears to be overhauling its pay structure this year, or is making more senior hires than previously. On the H1B visa salary database, 54 people have all been given $200k salaries in 2023 when there were none at that level in 2022. On Levels.fyi, the average stock based bonus pay for a senior engineer in 2023 is $68.6k with principal engineers predominantly earning over $200k.
As JPMorgan makes cuts to its technology department yet again, the comparative success of their peers might encourage staff to move across. NVIDIA currently has 424 open jobs, 250 of which are in engineering.
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