When gauging its performance in February, Nvidia said its revenue for the fiscal first quarter, which ends in May, would total $5.3 billion. However, the company revised the data provided at that time and concluded that its potential is much better than this figure.
Nvidia (NVDA) stock is rising partly thanks to the company’s new GPU architecture named Ampere. On Thursday, Nvidia introduced the architecture and a new line of chips based on Ampere target AI acceleration.
Crypto business of the world’s largest graphic card and chip maker Nvidia is dead. As the demand for GPU mining has declined, the company will now focus more on computer gaming, artificial intelligence, and data processing sectors.
Sheer demand for graphic cards results into increase of its price for everyone but cryptocurrency miners.