Nvidia Financial Report Released, Strong Results, -77% in Crypto Mining Chips Revenue

Nvidia released its financial report for Q4 and fiscal 2022. In the gaming sector, the fourth quarter revenue reached $34.2 billion, which is up +37% when compared to the previous year. When compared to the previous quarter there was a +6% increase. The fiscal year revenue climbed by +61% to $12.46 billion.

In the data center Data Center A data center is a building or network used to house computer systems and associated components, such as telecommunications and storage systems.This generally includes redundant or backup power supplies, redundant data communications connections, environmental controls, and various security devices. Large data centers are industrial scale operations using as much electricity as a small town.Over the past decade, data center space has been growing at an incredible rate. This has increased as more A data center is a building or network used to house computer systems and associated components, such as telecommunications and storage systems.This generally includes redundant or backup power supplies, redundant data communications connections, environmental controls, and various security devices. Large data centers are industrial scale operations using as much electricity as a small town.Over the past decade, data center space has been growing at an incredible rate. This has increased as more Read this Term segment Nvidia posted strong gains. Q4 revenue rose +71% to $3.26 billion when compared to the previous year and +11% compared to the previous quarter. Additionally, the revenue for the fiscal year increased by +58% to $10.61 billion.

In professional visualization, Nvidia's revenue saw a sharp increase to $643 million (+109%) compared to the previous year and +11% compared to the previous quarter. Moreover, the revenue for the fiscal year doubled (+100%) to $2.11 billion.

On 8 February Nvidia and SoftBank terminated a $40 billion deal on Arm Ltd. from SoftBank Group. Due to regulatory difficulties the agreement has been terminated.

Nvidia Outlook Q1 2023

Nvidia included their outlook for the first quarter of fiscal 2023:

• Revenue is expected to be $8.10 billion, plus or minus 2 percent;
• GAAP and non-GAAP gross margins are expected to be 65.2 percent and 67.0 percent, respectively, plus or minus 50 basis points;
• GAAP operating expenses are expected to be $3.55 billion, including the Arm Write-off of $1.36 billion;
• Non-GAAP operating expenses are expected to be $1.60 billion;
• GAAP and non-GAAP other income and expense are both expected to be an expense of approximately $55 million, excluding gains and losses from non-affiliated investments;
• GAAP and non-GAAP tax rates are expected to be 11 percent and 13 percent, respectively, plus or minus 1 percent, excluding any discrete items.

Source: Nvidia

Down -77% on Crypto Mining Processors

The Nvidia crypto mining processors' revenue dived from $105 million to $24 million. In May 2021, Nvidia announced that all its GPUs have software installed that prevents them from being utilized for crypto mining Crypto Mining Cryptocurrency mining is defined as the process through which the transactions of a digital currency are authenticated then published to blockchain. For every crypto transaction conducted, a crypto miner is in charge of authenticating the information which, if approved, is then updated in the blockchain. Currently, the most popular cryptocurrencies being mined are Bitcoin, Litecoin, Ethereum Classic, Monero, and DASH. How is Cryptocurrency Mined?The process of crypto mining itself involves the s Cryptocurrency mining is defined as the process through which the transactions of a digital currency are authenticated then published to blockchain. For every crypto transaction conducted, a crypto miner is in charge of authenticating the information which, if approved, is then updated in the blockchain. Currently, the most popular cryptocurrencies being mined are Bitcoin, Litecoin, Ethereum Classic, Monero, and DASH. How is Cryptocurrency Mined?The process of crypto mining itself involves the s Read this Term (a hash rate reduction).

Instead, Nvidia offered cryptocurrency miners dedicated mining processors.

Some, are suggesting that the market is leaning more towards Proof of Stake as opposed to Proof of Work, as such the demand for such processors is declining. However, minting Non-Fungible Tokens (NFTs) may require the processors.

Furthermore, Intel is entering the cryptocurrency mining sector with its new chip. It claims the mining chip is 1,000 times faster than the standard chips for SHA-256 in today's market. The new chip will be introduced at the International Solid State Circuit Conference (ISSCC) in February.