SEvsNK
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Nvidia was one of the leaders during the crypto-mining boom. There are just 21 million bitcoins to mine, and the handsome rewards for solving the puzzles to produce crypto attracted miners in droves. They became among Nvidia’s top customers.
Nvidia was ambitious in trying to meet the demand. This week, it had to admit that the chip inventory it built up was needless. It will be cleared out during this quarter. It added that the move was in response to fizzling demand.
Nvidia’s CFO Colette Kress spoke to analysts and investors about the matter. She said that as it works to reduce the stockpile of unsold parts, Nvidia remains confident about its revenue outlook. The company’s fiscal forecast for 2020 is still on track.
The outlook anticipates revenue will be flat or slightly down from last year, likely by four percent.
https://www.ccn.com/nvidia-exits-crypto-mining-enters-the-gaming-revolution
Nvidia was ambitious in trying to meet the demand. This week, it had to admit that the chip inventory it built up was needless. It will be cleared out during this quarter. It added that the move was in response to fizzling demand.
Nvidia’s CFO Colette Kress spoke to analysts and investors about the matter. She said that as it works to reduce the stockpile of unsold parts, Nvidia remains confident about its revenue outlook. The company’s fiscal forecast for 2020 is still on track.
The outlook anticipates revenue will be flat or slightly down from last year, likely by four percent.
https://www.ccn.com/nvidia-exits-crypto-mining-enters-the-gaming-revolution