Nvidia (NVDA) gave an extremely rosy financial forecast as the chipmaker benefits from surging demand for hardware to power the artificial intelligence (AI) revolution ushered in by the likes of ChatGPT. It was the talk of Wall Street on Thursday as Nvidia’s stock price soared.
For bitcoin (BTC) miners, it’s a reminder that they already have the expertise and data-center space to join in and run AI applications. Whether they’ll dive in remains to be seen.
“The overwhelmingly positive market reaction” to Nvidia’s news “will incentivize more mining companies to follow suit making announcements of their own and allocating more of their power capacity to other forms of compute,” said Ethan Vera, chief operating officer at mining services firm Luxor Technologies.
Vera noted the Wednesday announcement that Applied Digital
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