• Nvidia's Stock Plunges as Much as 19% as ‘Crypto Hangover' Weighs on Revenue Growth

    24 days ago - By Fortune

    Nvidia's stock plummeted as much as 19% Thursday after reporting weaker-than-expected revenue, as the company's CEO admitted being surprised by a “crypto hangover” that is worse and longer-lasting than expected.
    Nvidia had been one of the hottest technology stocks in recent years. Last month, its stock reached an all-time high of $289.36 a share, marking a gain of 1067% in three years. Part of that rally was driven by speculation, but most of it came from surging demand for its high-powered graphics chips, which are used in gaming devices, data centers and to power crypto-mining...
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  • Nvidia CEO: Cryptocurrency mining hangover surprised us

    Nvidia CEO: Cryptocurrency mining hangover surprised us

    24 days ago - By Venture Beat

    Jensen Huang, CEO of Nvidia, acknowledged that the cryptocurrency mining hangover “surprised us” and caused an excess of graphics processing unit inventory in the most recent quarter. Huang made the statement in an analyst call after the company reported earnings for the third fiscal quarter ended October 28. After earnings came o...
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