Nvidia Stocks Up 560% Thanks To Fundamental Blockchain Technology
According to the CEO of Nvidia, cryptocurrency and blockchain technology are very much hear to stay. This is refreshing news, for what can only be described as a dismal year for them so far.
The CEO of Nivida says cryptocurrency and blockchain technology are very much hear to stay. His viewpoint was in a direct response to concerns about the company’s price growth being completely unsustainable. He said
“Cryptocurrency will be here. The ability for the world to have a very low-friction, low-cost way of exchanging value is going to be here for a long time. Blockchain’s going to be here for a long time and it’s going to be a fundamental new form of computing…I expect blockchain, I expect cryptocurrency to be an important driver for GPUs.”
Nivida stock is up by a huge 560% in just two years. It has been highly successful in these years. Huang believes that gaming, data centres, professional graphics and the autonomous market are the biggest growth drivers, rather than cryptocurrencies. At the end of 2017, revenue from mining-related products fell by $80 million, but Nivida’s revenue from these mining related products were on the up again before the year was out. The company has been involved in GPU technology for a number of years, but it is now developing supercomputers, which are ideal for artificial intelligence researchers. The processing technology of the GPU also makes them popular with cryptocurrency mining.
Huang said about this demand:
“We’re sold out of many of our high-end SKUs, and so it’s a real challenge keeping [graphic cards] in the marketplace for games…At the highest level the way to think about that is because of the philosophy of cryptocurrency – which is really about taking advantage of distributed high-performance computing – there are supercomputers in the hands of almost everybody in the world so that no singular force or entity that can control the currency.”
Also they have humbly admitted that of all the issues to have, a roaring success that they are struggling to keep up with the demand is not a bad one to have!
