Chipmaker Nvidia sees fewer crypto miners, more gamers in future
Chipmaker Nvidia sees fewer crypto miners, more gamers in future. Too many cryptocurrency clients and fewer cloud computing orders than expected underwhelmed Nvidia investors on Thursday, although the graphics chip maker said a supply shortage that hit its core video game audience had eased.
The Santa Clara, California company for the first time disclosed that it made $289M in sales - about 9% of its overall $3.2B in revenue - from chips for mining cryptocurrencies. CFO Colette Kress said that the company expects cryptocurrency-related revenue to fall 65% to about $100M in the next quarter. Revenue from Nvidia’s data center business rose 71% to $701M, but missed analysts’ estimates. Read more here.
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