According to some sources, the term sheet, which was based on board of directors’ seat requirement and it wasn’t based on some valuation.

Mark Zuckerberg, Facebook founder says that they have three common seats for stock board and one out these three is still empty while the rest of two are occupied by him and the other by Marc Andreessen.

Two other preferred stock board seats are held by Jim Breyer and Peter Thiel. Zuckerberg is looking for retaining control of board of directors’ seat.

The company is also going to pitch some financial projections that you have heard previously. The revenue number that was leaked out from the company previously was around $400 million, but now according to some investors it is being expected by the company that their revenue would be around $400m during this year.

It’s, indeed, a considerable increase in the company’s revenue and things are becoming quite impressive when it’s about revenue of the firm. It is being also expected that it would stretch even from this and according to some it is somewhat unrealistic.

The last round valuation of the company was around $15b, but now it seems somewhat far off thing.

Source: TechCrunch

Nvidia, the biggest suppliers of graphic chips, showed a loss of 27 cents per share, while it was 42 cents per share for the same period last year.  Similarly, the company reported revenue $481.1m that is nearly 60% down from the previous year $ 1.2b one year back.

Excluding their special items, the loss is $94.4m or 18cents per share.

Different analysts were excepting a loss of 12cents per share with $587m revenue. After the news, Nvidia shares dropped more than 7% in afternoon trading.

During the last month, the company has already cut its revenue guidance by more than 50%.

Many big suppliers of PC chip suppliers including TSMC have shown concerns about the considerable decrease in orders from worldwide customers. According to TSMC, the chip industry will see further drop by the mid of this year.

PC market tracker iSuppli says that many high-profit and high-end graphics chips would see a considerable decline in the coming month and PC market would get worse during 2009.