In February, when cryptocurrency prices soared, Nvidia launched new processors specifically for cryptocurrency mining. They cannot power a computer monitor, but they can generate valuable ether coins. On Wednesday, the company provided an update on how its cryptocurrency cards, or CMPs, are doing in the Email List For Las Vegas market. It booked $ 155 million in CMP card revenue in its fiscal first quarter, which ended May 2, and expected sales of $ 400 million in the current quarter, impressive numbers for a new product line.
But Nvidia CEO Jensen Huang speaks of the new product line not as an exciting frontier for the company, but as a bone for crypto freaks to protect gamers. It turns out that gaming processors, Nvidia’s original and core business, are still the biggest, generating $ 2.76 billion in revenue, a 106% increase from last year. The reason Nvidia is now dabbling in encryption chips is to save the supply of graphics processing units, or GPUs, for gamers, Huang explained. While GPUs can be used for mining, CMP chips cannot be used for gaming and it is easier for Nvidia to make CMP chips.
The CEO says his main gaming market is the largest ever and he can’t risk missing out because crypto miners keep buying cards meant for gamers. “What we hope is that the CMPs satisfy the miners and remain in the professional mines” and the product “protects” the supply of graphics cards for gamers, Huang said in a call with analysts. “The gaming industry is really big, and cpa email list what’s really exciting besides that is that games are not just games anymore. They are infused in sports, esports. They are infused into art. They are infused on social media. great cultural impact now. It’s the greatest form of entertainment, and I think the experience we’re going through is going to last a while, ”Jensen said.