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Hilarious, I don't remember them saying this BEFORE their crypto profits evaporated.

by mepian 4y ago

AviationAtom 4y ago
I will say, it seemed like right about the time the crypto markets collapsed again was right when AI application really started taking off and creating great demand. So I think the demand has remained roughly consistent. The big difference being folks with AI needs getting devices purpose build by nVidia for their needs, versus hobbyists buying up stock of consumer cards.
Spivak 4y ago
It doesn’t seem like they’re salty but more that they don’t have to pretend to be pro-crypto anymore. Put yourself in the position of someone who is fiercely proud of the work they do making GPUs and all the really cool stuff people do with it — video games, cgi rendering, AI, number crunching for scientific computing. Then all of a sudden the shelves are empty because people want to push boulders up a hill and roll them back down and the people who are doing the cool stuff are getting priced out by the competitive boulder rollers who just want want a better boulder to watt ratio. It would take the wind out of my sails because it’s harder to wake up and say, “look at all the cool stuff people are doing with the thing we made.”
pessimizer 4y ago
Accusing someone of not energetically attacking their main income source, whether they thought it was shit at the time or not, is not an own. Maybe I think I suck at painting, so take it up as a joke to bother a friend of mine. I get lucky and start selling paintings by the busload for thousands of dollars each, although I put no more effort into any of them than the first. In fact, since the first took me over an hour to do, I move exclusively to monochromatic drip paintings. When, a decade and tens of millions of dollars later, after my prices crash, I announce publicly that the art market is stupid... is it shrewd not to believe me?
wmf 4y ago
They were never particularly pro-crypto. When miners were buying GPUs by the pallet load Nvidia was publicly downplaying mining and saying GPUs were for gaming.
- eftychis 4y ago
  They specifically were mentioning them in their letters to investors as a positive. See https://www.cnn.com/2022/05/06/tech/nvidia-sec-settlement-crypto-mining/index.html https://www.cnn.com/2022/05/06/tech/nvidia-sec-settlement-cr... "Senior executives at the company sought to capitalize on that demand with a specialized line of cards just for cryptomining, the SEC wrote, but Nvidia salespeople and the company’s internal estimates suggested cryptomining was still accounting for “a significant factor in the year-over-year growth in Gaming revenue.”" They settled with SEC for hiding profit cannibalization from investors. Also as the article hints on the hypocrisy, Kagan built a company selling to high frequency traders. I think the hypocrisy and sourness are abundant qualities in this statement.
988747 4y ago
I remember them deliberately limiting hash rate of their cards because the did not want them to be used by miners.
- mepian 4y ago
  They did that very late when the backlash from gamers was at its peak, and they released this thing at the same time: https://www.nvidia.com/en-us/cmp/ https://www.nvidia.com/en-us/cmp/

Hilarious, I don't remember them saying this BEFORE their crypto profits evaporated.

by mepian 4y ago

Hilarious, I don't remember them saying this BEFORE their crypto profits evaporated.

I will say, it seemed like right about the time the crypto markets collapsed again was right when AI application really started taking off and creating great demand. So I think the demand has remained roughly consistent. The big difference being folks with AI needs getting devices purpose build by nVidia for their needs, versus hobbyists buying up stock of consumer cards.

Spivak 4y ago

It doesn’t seem like they’re salty but more that they don’t have to pretend to be pro-crypto anymore. Put yourself in the position of someone who is fiercely proud of the work they do making GPUs and all the really cool stuff people do with it — video games, cgi rendering, AI, number crunching for scientific computing. Then all of a sudden the shelves are empty because people want to push boulders up a hill and roll them back down and the people who are doing the cool stuff are getting priced out by the competitive boulder rollers who just want want a better boulder to watt ratio. It would take the wind out of my sails because it’s harder to wake up and say, “look at all the cool stuff people are doing with the thing we made.”

pessimizer 4y ago

Accusing someone of not energetically attacking their main income source, whether they thought it was shit at the time or not, is not an own. Maybe I think I suck at painting, so take it up as a joke to bother a friend of mine. I get lucky and start selling paintings by the busload for thousands of dollars each, although I put no more effort into any of them than the first. In fact, since the first took me over an hour to do, I move exclusively to monochromatic drip paintings. When, a decade and tens of millions of dollars later, after my prices crash, I announce publicly that the art market is stupid... is it shrewd not to believe me?

wmf 4y ago

They were never particularly pro-crypto. When miners were buying GPUs by the pallet load Nvidia was publicly downplaying mining and saying GPUs were for gaming.

eftychis 4y ago
They specifically were mentioning them in their letters to investors as a positive. See https://www.cnn.com/2022/05/06/tech/nvidia-sec-settlement-crypto-mining/index.html https://www.cnn.com/2022/05/06/tech/nvidia-sec-settlement-cr... "Senior executives at the company sought to capitalize on that demand with a specialized line of cards just for cryptomining, the SEC wrote, but Nvidia salespeople and the company’s internal estimates suggested cryptomining was still accounting for “a significant factor in the year-over-year growth in Gaming revenue.”" They settled with SEC for hiding profit cannibalization from investors. Also as the article hints on the hypocrisy, Kagan built a company selling to high frequency traders. I think the hypocrisy and sourness are abundant qualities in this statement.

988747 4y ago

I remember them deliberately limiting hash rate of their cards because the did not want them to be used by miners.

mepian 4y ago
They did that very late when the backlash from gamers was at its peak, and they released this thing at the same time: https://www.nvidia.com/en-us/cmp/ https://www.nvidia.com/en-us/cmp/