One of the two GPU giants in the world, Nvidia, has plunged -17% as cryptocurrency boom ends, according to Reuters.
Nvidia is an American tech company that designs and produces GPU chips/cards for the game industry, neural networks, AI (Artificial Intelligence), and crypto industry.
The California-based company reportedly forecast sales for its fiscal fourth quarter well below Wall Street expectations due to a drop in demand for GPU chips in the crypto industry.
The CEO of Nvidia, Jenson Huang, expressed his surprise concerning the crypto hype duration:
“The crypto hangover lasted longer than we expected. We thought we had done a better job managing the cryptocurrency dynamics.”
Earlier, an analytical company Jon Peddie Research (JPR) released the results of a study on the market for graphics adapters of the add-in board (AIB) type, which are better known as discrete graphics cards.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.