NVIDIA Expects Its New Cryptocurrency GPU to Make $400 Million in Fiscal Q2 | WHAT REALLY HAPPENED X-Frame-Options: SAMEORIGIN

NVIDIA Expects Its New Cryptocurrency GPU to Make $400 Million in Fiscal Q2

This is having a real-world impact on some businesses. NVIDIA (NASDAQ:NVDA) is a prime example. It launched new hardware designed specifically for crypto mining (the process in which digital assets are created and managed) just a few months ago, and sales are skyrocketing.

A $400 million windfall

NVIDIA announced the launch of a new chip lineup called the CMP (cryptocurrency mining processor) in Feb. 2021. CMPs are off to a hot start.

NVIDIA CFO Colette Kress said on the first-quarter fiscal 2022 earnings call (NVIDIA's current fiscal year ends in Jan. 2022) that CMP sales totaled $155 million. Pretty impressive for a fresh product launch that's only been available for a couple of months, even from a semiconductor industry leader like NVIDIA.

In spite of wildly volatile crypto prices (Bitcoin and Ethereum are each down about 45% from their all-time highs as of this writing), Kress said CMP sales are staying strong. The company is forecasting CMP revenue of $400 million during the fiscal second quarter, the three-month period ending in July 2021.

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA