Like AMD, Nvidia promises to ramp up GPU production
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Following AMD’s announcement last week that it is ramping up production of GPUs, Nvidia has also promised to do the same. The news comes on the back of a record $2.91 billion in revenue for the quarter ending January 28, thanks in large part to the booming sales of its Pascal-based graphics chips. According to the company, the popularity of cryptocurrency mining is largely behind the jump in earnings and is also to explain for the world-wide shortage of graphics cards available to customers.
“Strong demand in the cryptocurrency market exceeded our expectations,” said Nvidia CFO Colette Kress. “Our main focus remains on our core market, as cryptocurrency will likely remain volatile,” Kress added, which will be good news to gamers who have suffered at the hands of miners who have made GPUs both scarce and historically very expensive.
While AMD blamed its inability to keep up with demand on its memory component suppliers [as an in-direct by-product of mining-related demand), Nvidia wasn’t so quick to point the finger. “We’re working really hard to get GPUs out into the marketplace for the gamers,” said Nvidia CEO Jensen Huang. “We’re doing everything we can, but I think the most important thing is, we've just got to catch up with supply.”