Opinions, market data, or any other content is subject to change at any time without notice.The data contained in this website is not necessarily real-time nor accurate. Any opinions, news, research, analyses, prices, or other information contained on this Website are provided as general market information and shouldn't be read as any recommendation or advice. The content on the website is provided for search, educational, assisting traders to make independent investment decisions and doesn't constitute investment advice. Read: Will ETH Go Up After Gas Fees Go Down Post navigation The demand for $2,000 Nvidia cards are likely over because of the slowing economic environment. So when this happens -in August- billions of dollars of Nvidia cards may flood used marketplaces, creating a glut for its products. However, the merge of ETH from proof-of-work to proof-of-stake will eliminate the need for graphics card-based mining.

Since 2021, the company has taken advantage of unprecedented demand from miners by aggressively increasing the pricing of its graphics cards. Nvidia’s gaming cards have been used to primarily mine Ethereum.

The company expects its gaming business will decline by a “teens” percentage quarter-on-quarter for the three months ending in July.

The demand for its graphics cards in Europe was softening and Covid lockdowns in China were hurting its business.

Nvidia primarily blamed the Russia-Ukraine war and developments in China for the majority of its issues in the current quarter. On Wednesday, NVDA provided an outlook that was below Wall Street’s expectations.

Cathie Wood purchased over 245,000 shares of Nvidia on Thursday.

All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2019 and/or its affiliates. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc.

Factset: FactSet Research Systems Inc.2019. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes.

Nvda stock prediction