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Here's your afternoon TNB Tech minute for Wednesday, August 27th. I'm Julie Chang for the Wall Street Journal. After the Bell, Nvidia posted a strong second quarter and set a $60 billion stock buyback. The chip firm, which world's most valuable publicly traded company, set fresh sales records. Nvidia continued to capitalize on strong demand for AI computing power and shrugged off uncertainty surrounding its business in China. Sales in the July quarter hit $46.7 billion, up 56% from the year earlier period. Quarterly net income was $26.4 billion, 59% higher than a year ago. The firm's third quarter guidance appeared solid. Nvidia shares fell about 2.5% in aftermarket trading. Plus three people have been indicted in a case about stolen chip secrets from Taiwan Semiconductor Manufacturing. Taiwanese prosecutors said former TSMC employees stole information to help Tokyo Electron win more orders. The three were arrested earlier this month. Representatives of the three couldn't immediately be located for comment. The the charges mark the first time Taiwan has used national security laws to prosecute the theft of trade secrets involving critical technology. Tokyo Electron didn't reply to a request for comment. TSMC said it would pursue trade secret theft to the fullest extent possible and work with authorities to protect its competitive advantage. Finally, we exclusively report that Amazon plans to extend new employment offers To Whole Foods U.S. corporate employees in November, per an internal memo viewed by the Journal. Employees who work in role including marketing and merchandising will have about a month to review their new titles, salaries and benefits. An Amazon spokeswoman said the move is designed to bring Amazon's grocery teams closer together and ease collaboration and innovation. Whole Foods corporate employees will have access to an Amazon discount and healthcare benefits, but they will lose certain Whole Foods perks such as their in store discount and four weeks of remote work a year. And that's a wrap on your TNB Tech Minutes today. We'll have another quick tech update in the morning.
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