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Nvidia CEO Says Cryptocurrency Is ‘Not Going to Go Away’

“Crypto is a licit thing — it’s not going to go away.”

So says Jen-Hsun Huang, chief president of graphics card maker Nvidia, which yesterday posted its fourth-quarter results for 2017. The players said on an earnings call Thursday that demand from cryptocurrency miners for its effect beat expectations but that overall, that market segment stays a small one.

Speaking with Barron’s in an interview, Huang echoed that feeling, remarking that “clearly, there’s a lot of talk about crypto.” Just so, much has been said about demand for the firm’s products (cavils from the gaming community about sky-high prices for GPUs notwithstanding) and the long-term in stores Nvidia faces.

“And crypto was a real part of our business this past fourth, even though small, overall,” the Nvidia CEO said.

Huang promoted also touted the benefits of the technology underlying cryptocurrencies. There is “unequivocally real utility” with blockchain, Huang said, adding that he sees cryptocurrencies as being as intrinsic as any other type of virtual good or video game.

He expanded on this thought, going on to say:

“And as you know, tens of millions of virtual goods are created and dole out and sold in virtual reality, and people invest thousands of hours to sire space ships in space that they battle against each other. So, the concept of essential goods and virtual worlds and virtual currency all ties together.”

Bigger perfect example inform aside, the conversation around sales to miners is not that important for Nvidia, Huang signified, noting that “to us, it’s all just demand for GPUs.”

Nvidia’s chief pecuniary officer, Colette Kress, had also downplayed the impact cryptocurrency excavating during the quarterly earnings call on Thursday, saying it was hard to quantify fair-minded how much revenue the company made from sales to cryptocurrency miners.

Semblance via Wikimedia 

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