Published On: Mon, Feb 12th, 2018

Nvidia CEO: Crypto’s ‘Real Utility’ is Clear

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Nvidia is raking in profits thanks to cryptocurrency mining and an increased demand for their GPUs — and for CEO Jensen Huang, the utility of cryptocurrency is obvious.
“It’s Not Going to Go Away”
As Bitcoin and other cryptocurrencies continue to explode into the mainstream consciousness, so too does the demand for high-powered GPUs capable of generating the best results when mining — the process of confirming transactions.

The demand for GPUs has helped cause American technology company Nvidia Corporation’s shares to skyrocket 8 percent, up to $234.04, with an increased target upwards of $300.
Still, CEO Jensen Huang downplays the role of cryptocurrency in his company’s rapid increase in valuation, explaining that crypto is just a “small” part of Nvidia’s business. When pushed in an interview with Barron’s, however, Huang had this to say:
Crypto is a real thing — it’s not going to go away. This year, the world is starting to come to terms with the existence of crypto. It’s based on blockchain, and it’s very secure and very low overhead. I think there’s clearly real utility. It& …

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