Jensen Huang shows off the Nvidia GeForce RTX 2080 Ti.
Jensen Huang shows off the Nvidia GeForce RTX 2080 Ti.
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Nvidia CEO: Cryptocurrency mining hangover surprised us

  • Posted byby Dean Takahashi
  • Updated
  • 2 min

Jensen Huang, CEO of Nvidia, acknowledged that the cryptocurrency mining hangover “surprised us” and caused an excess of graphics processing unit (GPU) inventory in the most recent quarter.

Huang made the statement in an analyst call after the company reported earnings for the third fiscal quarter ended October 28. After earnings came out, Nvidia’s stock price fell 15 percent in after-hours trading. That selloff wiped out more than $20 billion in market value.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.