Tech Voices: Nvidia defends H20 chips, Figma IPO, Roblox’s 10% goal

Seeking Alpha’s roundup of statements, announcements and remarks that could impact the technology sector.

• Nvidia (NASDAQ:NVDA) met with Chinese officials Thursday to address concerns that its H20 chips might pose a security risk to that nation.

The Cyberspace Administration of China requested that Nvidia “clarify and submit relevant supporting documentation regarding security risks, including potential vulnerabilities and backdoors, associated with its H20 computing chips sold to China,” according to CNBC.

Nvidia (NASDAQ:NVDA) has denied the chips contain “backdoors.”

“Cybersecurity is critically important to us. Nvidia does not have ‘backdoors’ in our chips that would give anyone a remote way to access or control them,” Nvidia (NASDAQ:NVDA) said in a statement to Reuters on Thursday.

• Design platform provider Figma (NYSE:FIG) priced its IPO above its previously stated range, with the company being valued at around $19.3 billion.

The company offered 12.47 million shares at $33 per share, with existing shareholders offering an additional 24.46 million shares, according to a statement.

Earlier this week, Figma (NYSE:FIG) said in an SEC filing that it was looking to price the shares at between $30 and $32.

Adobe (ADBE) tried to acquire Figma for $20 billion in 2022, but the deal was eventually scrapped after receiving pushback from regulators.

• Roblox (NYSE:RBLX) issued a rosy Q2 earnings report Thursday, adding that it’s aiming to capture 10% of the global gaming market.

“Our year on year growth this quarter is a reflection of our strategic investments in infrastructure and performance, discovery, and the virtual economy, which continue to create fertile conditions for creators to thrive as part of a healthy, interconnected ecosystem,” Roblox CEO and founder David Baszucki said in a statement.

“We are encouraged by the momentum across Roblox as we look to capture 10% of the global gaming content market flowing through our platform,” Baszucki added.