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NVIDIA Corporation Makes Wall Street Excited About Cryptocurrencies

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NVIDIA Corporation (NASDAQ:NVDA) is mining the most out of cryptocurrencies. The GPU boffin saw Blayne Curtis of Barclays put a price target of $200 on its stock. NVIDIA’s Volta processor, along with the rise of cryptocurrency mining, has inspired confidence among Wall Street’s leading analysts.

The obsession over growing one’s wealth through digital currencies comes as a powerful catalyst for companies that produce semiconductors. This is especially true for the cream of the crop. Companies like NVIDIA Corporation (NASDAQ:NVDA)have reaped the most through their high-end graphics chips.

NVIDIA Corporation (NVDA)

Graphics processor units help a great deal in enhancing the performance of your PC. This is the reason they are such a hit among gamers. They help consoles and desktops process commands and visuals a lot faster. They also help PCs become powerful enough to mine digital currencies.

This summer had digital coins Ethereum and Bitcoin surge in value and popularity. The demand for processors rose along with them. It effectively produced a spike of $150 million in revenue for NVIDIA.

Advanced Micro Devices (NASDAQ:NVDA) is a phoenix risen from the ashes, too. Now it rubs shoulders with the likes of Intel (NASDAQ:INTC). The company is said to be after NVIDIA’s league next. In a brief report released on Wednesday, Curtis projects the surge in cryptocurrency mines to move well into the next year. The analyst propped up his price goals for both AMD and NVIDIA Corporation (NASDAQ:NVDA).

Blayne Curtis on GPU Sales, AMD (NASDAQ:AMD) and NVIDIA Corporation

Blayne Curtis pointed out the upcoming upgrade to Byzantium. He believes the profitability of mining the currency stands to grow between 20 and 30 percent from its current levels. Yet, in general, the loss effect of mining will grow at a significantly lower rate. This effect will increase the trajectory of profits derived from GPU sales.

AMD (NASDAQ:NVDA) does not seem to be gaining any considerable share of the GPU market with its Polaris chip. That is looking at the firm via the help of external analysts. The company has, however, raked in a great deal of consumer confidence through its Ryzen and Threadripper releases.

Curtis believes that, while the prices of AMD’s newer GPUs might be hard to take in, the firm should see significantly more demand for it older RX400/500 cards from miners.

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Mvusi Ngubane

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