A crypto-influenced boom amid a chip shortage? Sounds familiar, but Nvidia says it ‘feels very different’ – MarketWatch

A crypto-influenced boom amid a chip shortage? Sounds familiar, but Nvidia says it ‘feels very different’ – MarketWatch

A semiconductor shortage. Intense interest in cryptocurrency. Record annual revenue and profit.

All of that sounds familiar for Nvidia Corp. NVDA, +2.52%, which boomed to records in 2018 amid chip shortages and demand from miners of cryptocurrency, before falling back to earth with a thud in 2019. With a stellar 2020 that beat 2018’s record performance, thanks to some of the same dynamics, it is fair to wonder if Nvidia is again going to end a period of intense demand with a glut of oversupply.

Chief Financial Officer Colette Kress tried to put those fears to rest Wednesday.

“The market feels very different than it did before,” Kress said in an interview with MarketWatch after the chip designer revealed more than $5 billion in quarterly revenue for the first time.

Kress said that Nvidia is better prepared for a potential surge in demand from crypto miners, as it is now offering a specific graphics card designed just for crypto-mining. Last week, it introduced a specialized card and chipset for crypto-miners, and unveiled features for its upcoming RTX 3060 card designed for videogamers that would slow down the system if the cards were used
Source…