Chipmaker Nvidia sees fewer crypto miners, more gamers in future

Posted May 12, 2018

Revenue from Nvidia's data centre business, which powers cloud-based services such as's Amazon Web Services, Microsoft Corp's Azure as well as Alphabet's Google Cloud, rose 71 percent to $701 million (roughly Rs. 4,700 crores), but missed analysts' estimate of $703 million, according to Thomson Reuters.

During an earnings call on Thursday, CEO Jensen Huang, boasted that there was "growth across every platform", and that the "datacenter business achieved another record and gaming remained strong".

The GPU manufacturer's chief financial officer (CFO), Colette Kress, noted that the company expects cryptocurrency-related revenue to fall by as much as 65 percent in the next quarter, to about $100 million. That resulted in GAAP earnings per diluted share of $1.98, up 151 percent year-over-year. While retail prices surged earlier this year, the cryptocurrency ecosystem's recent correction saw various miners lose interest and sell their rigs. "Gamers who had been priced out of the market last quarter" were able to get their hands on new chips a reasonable price, she said. Furthermore, the company brought in $1.3 billion in operating profits which is up 134% from past year.

Yankees Rally To Beat Red Sox, Seize AL East Lead
The Yankees have won their past 11 home games (since April 21), extending their franchise mark for the current Yankee Stadium. Four pitches later, Judge launched Kimbrel's 1-2 fastball into the netting over Monument Park beyond the center field fence.

Nvidia said it intends to return $1.25 billion to shareholders through ongoing quarterly cash dividends and share repurchases for fiscal 2019.

Investors shouldn't obsess about the crypto business, Rosenblatt Securities analyst Hans Mosesmann said. It's a fast growing field, and NVIDIA is trying to be at the forefront as more and more companies adopt AI technologies.

The rise of AI and ML workloads in the data center continues to fuel Nvidia's high-margin growth.

Merkel: Europe no longer relies on the United States
The European Union needed to integrate more closely in the face of outside threats and resurgent nationalism within its borders. Mr Trump has previously criticised North Atlantic Treaty Organisation allies in Europe for spending too little on defence.

"I expect that driverless taxis will start going to market about 2019", Huang told investors. Gaming is still the company's bread and butter-gaming revenue tallied more than $1.7 billion for the quarter, and while that is down a tick from last quarter (1 percent), it's up a whopping 68 percent compared to the same quarter a year ago.

Not only that, Nvidia also saw a huge bump in GPU sales and brought in $2.77 billion from GPU sales alone which is 77% up from a year ago.

Analysts on average had expected revenue of $2.91 billion, according to Thomson Reuters.

Kyle Edmund holds nerve to knock Novak Djokovic out of Madrid Open
Djokovic has won 12 major titles but a year ago failed to reach a final at a Grand Slam tournament for the first time since 2009. Despite his 6-6 win-loss match record since return from the elbow injury, Djokovic tried to put his slump into perspective.