Thanks to Mining and AI, Nvidia Keeps Breaking Records

It seems that a graphics card giant Nvidia is following the growing trends in the graphics card market. Increased demand is definitely being backed up by cryptocurrency miners and benefits that came from the launch of its Volta chip architecture last year. Volta processors power a range of technologies such as artificial intelligence and driverless cars.

Virtually every internet and cloud service provider has embraced our Volta GPUs,” Nvidia’s Chief Executive Officer Jensen Huang said in a statement. He added that they capped an excellent year. “In a powerful sign of our progress, attendees at NVIDIA’s GPU Technology Conferences reached 22,000, up tenfold in five years, as software developers working in AI, self-driving cars, and a broad range of other fields continued to discover the acceleration and money-saving benefits of our GPU computing platform,” he said. He added that the company is looking at supercomputer clusters to slash training times.

Strong demand in the cryptocurrency market exceeded our expectations,” said Chief Financial Officer Colette Kress. She added that “while the overall contribution of cryptocurrency to our business remains difficult to quantify, we believe it was a higher percentage of revenue than the prior quarter.

Record revenue for the fourth quarter of $2.91 billion was reported. That is up 34 percent from $2.17 billion a year earlier, and up 10 percent from $2.64 billion in the previous quarter. For fiscal 2018, revenue was a record $9.71 billion, up 41 percent from $6.91 billion a year earlier.

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Teuta Franjkovic

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