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Nvidia Reveals Crypto Sales for First Time and Predicts Big Drop

Nvidia Reveals Crypto Sales for First Time and Predicts Big Drop”

And the reason for that is because, we want gamers to - the gaming experience of a graphics card depends so much on the GPU that is chosen.

"Significant announcements that were made during the first quarter included the introduction of a new medical imaging supercomputer, under the title Project Clara, and NVIDIA RTX, a computer graphics technology which would make it possible for game developers to "[produce] movie-quality images in real time". That resulted in GAAP earnings per diluted share of $1.98, up 151 percent year-over-year.

Demand from cryptocurrency miners was stronger-than-expected in the first quarter and translated into revenue of $289 million, Nvidia said Thursday on its earnings conference call.

Nvidia in its recent earnings call revealed it generated $289 million in revenue related to the sale of GPUs for the goal of cryptocurrency mining. Retail prices for Nvidia's gaming chips surged earlier this year as miners snapped up chips, a development Nvidia addressed by releasing mining-specific chips.

This likely helped ease demand, which will in turn allow gamers to get back in the market. Nvidia reported $3 Billion in operating profit for the year, while Bitmain made almost $4 Billion selling ASIC miners.

Investors shouldn't obsess about the crypto business, Rosenblatt Securities analyst Hans Mosesmann said.

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A cryptocurrency boom has powered growth at Nvidia and rival Advanced Micro Devices, but the sector is battling volatility caused by swings in the currency's value.

Gaming is Nvidia's largest revenue driver by far, generating 53.7% of the company's revenue in Q1, and that crucial segment jumped 68% year-over-year.

There is no doubt that Nvidia holds the most GPU market share due to its incredible GPUs and it comes as no surprise that Nvidia has brought in record revenue, up 66%, for the first quarter of its fiscal year 2019.

According to a Reuters report, Nvidia's data centre business rose 71 per cent to $701 million.

"I expect that driverless taxis will start going to market about 2019", Huang told investors. The company expects to generate $3.10 billion in Q2, with Nvidia pinning some of its growth opportunities on AI. However, it has been mining's pull on the same resources as Nvidia's core business, its $1.7bn+ games-related product range, that has made headlines.

Excluding items, Nvidia earned $2.05 per share.



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