NVIDIA CEO Jen-Hsun Huang delivers a speech about AI and gaming during the Computex Taipei exhibition at the world trade center in Taipei, Taiwan, Tuesday, May 30, 2017. (AP Photo/Chiang Ying-ying)

Nvidia is warning that its crypto-mining GPU boom is over

$289 million

Nvidia shares fell slightly this week as the chipmaker advised that cryptocurrency-mining chip sales would likely drop at least two-thirds next quarter.

Published   |  Photo by AP Photo/Chiang Ying-ying
NVIDIA CEO Jen-Hsun Huang delivers a speech about AI and gaming during the Computex Taipei exhibition at the world trade center in Taipei, Taiwan, Tuesday, May 30, 2017. (AP Photo/Chiang Ying-ying)
$289 million

Bitcoin and ether mining led to a major surge in demand for Nvidia’s GPU chips, accounting for $289 million in first-quarter revenue—or 9% of the company’s total $3.2 billion.

NVIDIA CEO Jen-Hsun Huang delivers a speech about AI and gaming during the Computex Taipei exhibition at the world trade center in Taipei, Taiwan, Tuesday, May 30, 2017. (AP Photo/Chiang Ying-ying)
$289 million

At its peak, that led to massive chip shortages as gamers and crypto miners alike bought up hardware as fast as Nvidia could manufacture it. In some cases, GPU prices doubled.

NVIDIA CEO Jen-Hsun Huang delivers a speech about AI and gaming during the Computex Taipei exhibition at the world trade center in Taipei, Taiwan, Tuesday, May 30, 2017. (AP Photo/Chiang Ying-ying)
$289 million

Nvidia’s stock price mirrors Bitcoin’s rise (and fall)

NVIDIA CEO Jen-Hsun Huang delivers a speech about AI and gaming during the Computex Taipei exhibition at the world trade center in Taipei, Taiwan, Tuesday, May 30, 2017. (AP Photo/Chiang Ying-ying)
$289 million

But even without bitcoin frenzy, Nvidia is still seeing plenty of upward growth for its products due to e-sports, video games, data centers, AI, and the auto market.

NVIDIA CEO Jen-Hsun Huang delivers a speech about AI and gaming during the Computex Taipei exhibition at the world trade center in Taipei, Taiwan, Tuesday, May 30, 2017. (AP Photo/Chiang Ying-ying)
$289 million

Even after risk-shorting cryptocurrency, Nvidia’s extremely positive earnings set a solid tone, handily beating market predictions on revenue and earnings per share.

NVIDIA CEO Jen-Hsun Huang delivers a speech about AI and gaming during the Computex Taipei exhibition at the world trade center in Taipei, Taiwan, Tuesday, May 30, 2017. (AP Photo/Chiang Ying-ying)
$289 million

Stock prices of the major chip manufacturers

home our picks popular latest obsessions search