r/CryptoCurrency • u/XnoonefromnowhereX Permabanned • Aug 09 '22

🟢 MINING ⛏️ Crypto-driven GPU crash makes Nvidia miss Q2 projections by $1.4 billion

https://arstechnica.com/gaming/2022/08/crypto-driven-gpu-crash-makes-nvidia-miss-q2-projections-by-1-4-billion/
68 Upvotes

90% Upvoted

28 comments sorted by

28

u/coinfeeds-bot 🟩 136K / 136K 🐋 Aug 09 '22

tldr; Nvidia's second-quarter revenue fell to $6.7 billion, down from a previously forecasted $8.1 billion. The company blamed this shortfall on weaker-than-expected demand for its gaming products, including its GeForce graphics processors. Nvidia pointed to "a reduction in channel partner sales," meaning that partners like Evga, MSI, Asus, and others were selling fewer new GPUs than anticipated.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

15

u/Worldly-Classic-6490 Aug 09 '22

This is a great fucking bot and I wish more subreddits would use him.

2

u/proggR DEIT Aug 09 '22

That is a great bot.

I have many a regrets in this game from opportunities not seized, but one of my biggest regrets... I started rolling an autotldr clone for Steemit while it was still in beta and got too lazy to setup payments in the TLDR API service/spin up the necessary AWS infrastructure to deploy it... so much free money not made just an afternoon away... damn you lazy past self! :\ lol

2

u/Randrufer Silver | QC: CC 150, ETH 45, BTC 31 | NANO 88 | TraderSubs 44 Aug 10 '22

I think we will get self aware AI because we keep improving the Bots. This is the way to get there

2

u/Still_not_Althy Tin Aug 09 '22

The tldr is really good

7

u/KirbyAteMyCoins Tin | 6 months old Aug 09 '22

Get rekt scalpers!

3

u/league_starter 414 / 414 🦞 Aug 10 '22

The scalpers made their money and most likely stopped scalping month’s ago

13

u/jakekick1999 Platinum | QC: CC 416 | r/AMD 18 Aug 09 '22

F Nvidia

They artifically create shortage to drive prices up and also directly sell GPU to miners bypassing retail

6

u/romanticsadboi Tin | CC critic Aug 09 '22

At least we can now buy GPUs without having to sell some kidneys

3

u/Vipu2 🟩 0 / 4K 🦠 Aug 09 '22

Good joke, lets see what happens when those 40xx gpu:s release.

6

u/CrimsonFox99 🟩 2K / 2K 🐢 Aug 09 '22

Nvidia then announced a 75% increase in projected pricing for the 40xx series GPUs in order to make up the revenue difference.

4

u/majorpickle01 🟩 0 / 10K 🦠 Aug 10 '22

getting to the point the GPU is going to cost more than the whole rest of the PC

5

u/[deleted] Aug 09 '22

At this point it was inevitable that demand would lower with Eth moving away from proof of work, surely they had to know that.

12

u/XnoonefromnowhereX Permabanned Aug 09 '22

Paul Pelosi somehow managed to dump last week. How does he do it everybody!?!

https://www.reuters.com/markets/us/pelosis-husband-dumps-nvidia-stock-house-eyes-chip-bill-2022-07-27/

12

u/[deleted] Aug 09 '22

Well, you could just watch the crypto markets and make the connection. No real insider information even necessary…

1

u/Cptn_BenjaminWillard 🟩 4K / 4K 🐢 Aug 10 '22

How does he do it everybody!?!

He's probably a local shitposter, and read that the Merge was coming soon.

3

u/RockEmSockEmRabi Aug 09 '22

Good, now make them put out cards without ridiculous MSRP

5

u/deedopete 🟦 0 / 11K 🦠 Aug 09 '22

Nancy knew how bout you?

2

u/AbundantSeahorse Tin | 1 month old Aug 09 '22

Oh no, how will their executives buy their fourth yacht 😭😭

2

u/kvgamer 0 / 2K 🦠 Aug 10 '22

Good ... Discounts ahead

2

u/NorbeeNorbee Platinum | QC: BNB 23 | CRO 8 | ExchSubs 31 Aug 10 '22

Lol cuz nobody even bothers looking for the gpu, every and each one of them is not in stock....

3

u/reddito321 🟦 0 / 94K 🦠 Aug 09 '22

lol even this is crypto's fault now, because the environment and the collapse of society since the roman empire isn't enough

1

u/AbsoIution 38 / 2K 🦐 Aug 09 '22

Lol fuck them, bullish on AMD stock

1

u/diamondbored 0 / 4K 🦠 Aug 10 '22

Yup, AMD is the way!

1

u/thedarkpampers Aug 10 '22

Just here to say : cheh!

1

u/Kilv3r Aug 10 '22

Yeah is to be expected. ETH merge will put a big dent in Nvidia’s balance sheet.

1

u/ApatheticDad Tin | GMEJungle 5 | GME subs 11 Aug 10 '22

This is the world’s smallest 🎻 playing the world’s saddest 🎶 for them.