Nvidia is the leading provider of processing power for AI software, and its newer, AI-related businesses are growing quickly. Cryptocurrencies could be another big business for Nvidia. Nvidia is rumored to be producing a cryptocurrency mining-specific chip that could help it capitalize on the hype around currencies like Bitcoin and Ethereum.
Nvidia and AMD, two graphics processing unit (GPU) companies, are currently fighting over the cryptocurrency GPU market, and both are rumored to be releasing cryptocurrency optimized chips in the near future, according to RBC Capital Markets. Recently, $100 million worth of GPUs were added to the Ethereum network in just 11 days.
Nvidia and AMD could release new cards that are optimized to draw as little power as possible and increase the speed of cryptocurrency specific tasks.
RBC reckons that when this happens, Nvidia's chip will outpace its rival AMD.