Above: Jensen Huang of Nvidia talks with the press at CES 2018. He was one of the few to take questions from the press.
Nvidia reported better-than-expected earnings for its fiscal fourth quarter that ended on January 31. The company said it’s earning non-GAAP revenues of $1.72 a share on revenues of $2.91 billion.
Analysts had expected $1.16 a share on revenue of $2.68 billion. It makes you wonder if all of those rumors about cryptocurrency mining driving up the prices of graphics processing units (GPUs) are true.
But for the past couple of quarters, Nvidia hasn’t acknowledged much contribution to its bottom line coming from mining-related sales. That led to a bit of a mismatch between Nvidia’s stellar financial results — which sales of graphics chips for games and artificial intelligence have driven — and the anecdotal chatter about how it was hard to find any graphics cards anymore because of miners.
Cryptocurrency mining uses computing to solve cryptographic equations, and if you solve enough equations, you can get an award of cryptocurrency. Bitcoin prices spiked toward $20,000 per Bitcoin in December, driving a frenzy of demand for mining — which is best done with GPUs. Read more from venturebeat.com…
thumbnail courtesy of venturebeat.com