Solid Crypto Demand Boosts Nvidia Sales to Record High

Nvidia’s graphics processing units (GPUs) are hotter than ever in the world of crypto mining.

by Viko
09 February • 1 min
In News

California-based tech firm Nvidia reported on Thursday record high sales for its fiscal fourth quarter, which ended on January 28, 2018, supported by strong demand from cryptocurrency miners. The company’s revenue jumped 34% year-on-year to USD 2.91 billion and expectations are for continued growth this year.

Nvidia GeForce gaming GPU

Demand for Nvidia’s GeForce gaming GPUs is on the rise. The company’s chief financial officer Colette Kress said that its main goal is to “produce quality hardware aimed at gaming not so much at crypto mining”.

Nvidia’s CEO Jen-Hsun Huang also insisted that the cryptocurrency element will be more marginal for the company’s future.

“It’s essential to keep up with the modern gaming trends and to provide the most advanced hardware for it,” - Huang said.