Nvidia, the largest GPU manufacturer in the entire world has recently made an announcement pertaining to its sale forecast. The company has announced that since the end of 2020, it has observed that the sales of GPUs have gone sky-high.
The company has been catering to tremendous requests for manufacturing high-end GPUs. At times, the company even ran out of stocks for the high-end GPUs and literally had to increase production to new levels.
Following the recent demands and supplies for the GPU graphics cards, Nvidia has announced it will be increasing the production for the high-end GPUs. Similarly, the company has announced that keeping the demand into consideration, it has made amendments to the sales forecast as well.
The company has confirmed that it has now tripled the forecast for the sales of the high-end GPUs. The updated forecast has been set up for the upcoming fiscal year 2022’s first quarter.
Nvidia has reportedly made this announcement during the annual investor day meeting held on Monday, April 12, 2021. In the meeting, Nvidia has revealed that for the first quarter of the fiscal year 2022, the sales forecast it had set was $5.30 billion.
However, the sales from the running quarters show that the sales for the company’s GPUs have already crossed the forecasted figure.
Quite surprisingly, Nvidia has reported that same trend with respect to other segments that it is currently operating.
Furthermore, Nvidia has confirmed it has also experienced an uptrend when it comes to the sales of the Graphics Processing Units. The company has revealed that many of the high-end GPUs produced by Nvidia are becoming key hardware units for the crypto-currency mining processors (CMPs).
Nvidia has confirmed that it has made necessary amendments to the CMP sales forecast and is now looking at $150 million worth of revenue in the first quarter of the fiscal year 2022.
Back in February, Nvidia had reported that for the first quarter of the same fiscal year, it had set the forecast to $50 million. However, with the given amount of success, adoption, and sales, the company had to increase its sales/revenue three-fold.
The executive vice president at Nvidia also talked about the success and sales of Nvidia in the crypto-mining sector in the past few months. Colette Kress stated that they have never been faced with a situation where they ever came to the verge of running out of stocks on such a large scale.
When the reports initially started emerging around the demand growing for Nvidia GPUs for crypto-mining, they took it lightly and did not think that was the case to some extent.
However, as the companies started announcing the shortage of the high-end GPUs, that is when they realized that the shortage indeed came from the crypto-mining sector.