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Santa Clara (dpa) – The end of the Bitcoin boom beats the price of shares and prices of the Nvidia graphics card specialist. The stock fell temporarily by around 18% in pre-market transactions after Nvidia disappointed investors with the latest quarterly figures and outlook.
The production of digital currency Bitcoin Requires mbadive computing resources – and graphics cards are optimal for that. At the height of the Bitcoin boom, some Nvidia cards were a bottleneck and price increases were noted.
But this year, Bitcoin has lost more than two-thirds of its value, which has also made the attraction of digital currency generation. Nvidia had miscalculated this situation, said company chief Jensen Huang after the publication of quarterly figures. "The crypto cat took longer than expected," he admitted. As a result, prices did not fall so quickly and, as a result, demand grew more slowly than expected. But now he is expecting a normalization.
It is mainly sales forecasts for the current quarter that have shocked Wall Street. Nvidia has announced a turnover of about $ 2.7 billion – badysts expected to 3.4 billion. And in the same quarter of last year, Nvidia had a good turnover of $ 2.9 billion.
The third quarter of Nvidia, completed in late October, saw its revenues rise by 21%, reaching just under $ 3.2 billion, a profit of $ 1.2 billion – an increase of 47% compared to the previous year.
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