Timothy B. Lee
– 8/17/2018, 8:16 PM For almost a year, cryptocurrency miners have snapped up all the graphics cards they could get their hands on. That was a financial windfall for Nvidia and AMD, the leading makers of consumer graphics cards.
Both reported soaring profits their last two quarters. But on Thursday, Nvidia reported its financial results for its second fiscal quarter, which ended on July 29.
The results were pretty good overall, with strong demands for Nvidia products for AI and data center applications. However, cryptocurrency-related demand has cratered.
“Our revenue outlook had anticipated cryptocurrency-specific products declining to approximately $100 million,” said Nvidia CFO Colette Kress. “Actual crypto-specific product revenue was $18 million.” The company isn’t counting on any more cryptocurrency-related sales in the future, either.
“We now expect a negligible contribution going forward,” Kress added. Nvidia CEO Jensen Huang echoed that sentiment. Read more from arstechnica.com…
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