Nvidia Corporation unveils Q1 FY 2019 revenue in crypto market

Posted 11 May, 2018

Nvidia Corporation, one of the leading graphics processing unit producers, has reported revenue from chip sales for crypto mining. In the Q1 FY 2019 the company generated $289 million from sales to miners, though it expects lower results in Q2, Bloomberg reported.

During the conference call, Nvidia CEO Jensen Huang stated that demand for GPUs in the crypto mining sector had exceeded all expectations. However, they believe that sales to miners may dip by some two-thirds in the future.

Crypto miners bought a lot of our GPUs in the quarter and it drove prices up...I think that a lot of gamers weren’t able to buy into the new GeForce as a result,” commented Jensen Huang. 

It is interesting that the company generated in this sector more than experts anticipated. Specifically, Susquehanna analyst forecast some $200 million revenue for Nvidia over the period under review.

Meanwhile, Nvidia direct rival AMD managed to narrow the gap with the former generating 10% of total company revenue over that period.

Nvidia CEO noted earlier that people will be interested in cryptocurrencies for many years even despite the regulators’ positions. 

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11 May, 2018 17:36

← US dollar loses grounds vs euro

On Friday, the US dollar keeps losing grounds against the euro. The currency has already plunged on weak inflation data lately. According to US Labor Ministry, core inflation in the country developed at a slower pace than expected. With steadily slow inflation, it seems that the regulator will not need to speed up the process of monetary normalization...

US dollar loses grounds vs euro

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11 May, 2018 10:56

Ripple: first results of XRP trial projects →

Ripple company has released the results of the first trial projects for XRP token and xRapid technology. The company statement says that financial organizations that took part in the trials, managed to save 40-70% compared to their previous spending via services of traditional providers. An average transaction time is slightly above two minutes, while the traditional wire transfer – 2-3 days.

Ripple: first results of XRP trial projects
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