Nvidia kicks crypto: ‘doesn’t bring anything useful to society’ AI does it’

Nvidia has been both benefactor and victim of the cryptocurrency boom/bust cycle. When the crypto’s value skyrocketed, so did Nvidia’s stock price. When the crypto crashed, Nvidia’s stock price often fell with it. The company makes a product that has long been crucial to the functioning of many of the world’s biggest cryptocurrencies outside of bitcoin, and it has been both a blessing and a curse.

Nvidia and crypto are a love/hate relationship. When all was well, Nvidia would happily create entire product lines for the sole purpose of running algorithms to “mine” cryptocurrency, known as CMP or Cryptocurrency Mining Processor. (opens in a new tab). However, when the crypto crashed, which it tends to do, Nvidia would often be lumped in with excess inventory. (opens in a new tab) graphics cards and finding new ways to sell them.

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