Enlarge / Mostly bare shelves in the graphics card case at a Washington, DC, Best Buy in January. (credit: Timothy B. Lee)

Nvidia announced its financial results on Thursday, and they were spectacular. For the company’s first fiscal quarter—which runs from late January through late April—the company had revenues of $3.2 billion. That’s up 10 percent from the previous quarter and up 66 percent over the last year. Profits were even more impressive, rising 11 percent from the previous quarter and 145 percent from a year earlier.

A big reason for this: the soaring value of ether and other cryptocurrencies in recent months created a ton of demand for graphics cards to mine them. That surging demand caused the street price of some high-end graphics cards to more than double between mid-2017 and February 2018.

It’s a sensitive subject for major graphics-card makers because their most important market in the long run is gamers, not miners. Gamers don’t like the idea of graphics-card makers raking in big profits from inflated prices driven by mining demand.

Read 13 remaining paragraphs | Comments

 » Read More