Nvidia reported record financial results on Thursday for its first fiscal quarter that ended April 29, and it also saw its stock price hit an all-time high of $260.13 per share, giving the company a market value of $157.9 billion. Based on all of the hype around Nvidia, you would think that the reason for this is its strength in artificial intelligence chips or the use of its graphics chips for crytpocurrency mining.
In fact, Nvidia’s biggest business is gaming. It generated $1.72 billion in revenue from gaming graphics chips during the quarter, up 68 percent from a year earlier. The gaming revenues are 47 percent of Nvidia’s overall $3.21 billion in quarterly sales.
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