![]() The cryptocurrency market is interesting to think about but should not be considered a large tailwind for Nvidia. This is a move clearly in the interest of shareholders. The result is more total sales and a competitive advantage relative to AMD. The alleviation of mining-related purchases of the RTX 3060 allows more gamers to get their hands on the latest Nvidia GPU, effectively gaining market share as otherwise gamers who did not purchase an RTX 3060 would be pushed to buy the latest Advanced Micro Devices ( AMD) GPU. This dynamic will allow GPU to split the demand between gamers and miners, funneling them into two different products. Nvidia is attempting to reduce demand on the mining side to cater to gamers, as evidenced by its production of mining-specific GPUs and its limitation of the hashrate of the RTX 3060 – and only the RTX 3060. ![]() The RTX 3060 is popular both for gaming and for cryptocurrency mining. Clearly, demand for Nvidia’s products greatly exceeds supply. ![]() Potential buyers must now go through second-hand markets and auctions to acquire them. Nvidia’s RTX 3060 GPUs are so popular that they sold out immediately upon release. ![]() Important to note this quarter is that despite the well-known shortage of GPUs, the company posted an impressive $5B in revenue. My last two articles on Nvidia discussed the bullish catalysts of the ARM acquisition and its dominance in the GPU market with its RTX GPUs. ![]() In this article, I mainly want to update my thesis on this company with an analysis of the earnings sentiment.īut first, let me reiterate my bullish position on Nvidia. But let’s dig a bit deeper than the surface numbers. Nvidia ( NASDAQ: NVDA) recently reported earnings, and they looked pretty impressive. ![]()
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