Nvidia Founder Claims Blockchain Will Be a “Fundamental New Form of Computing”

NVIDIA CEO Jensen Huang at CES 2018 (Nvidia / YouTube)
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Nvidia founder, President and CEO Jensen Huang stated in a Mad Money interview on Thursday that he believes cryptocurrencies and blockchain are here to stay. The CEO joined host Jim Cramer remotely from the GPU technology conference in Silicon Valley to discuss topics including cryptocurrency, Nvidia’s new products and self-driving cars.

“Blockchain’s going to be here for a long time and it’s going to be a fundamental new form of computing,” Huang stated amongst a group of conference attendees cheering behind him.

Nvidia has recently received negative press amid 2018 concerns about the volatility of crypto markets, causing its stock to pull back some. The coverage makes the assumption that the company relies heavily on the support of the blockchain world. Nvidia’s GPU’s are a favorite among cryptocurrency miners.

Huang himself states that Nvidia’s processors are “perfect” for mining because their GPU’s are the “world’s largest installed base of distributed supercomputing.”

However, Huang explained to Cramer that while cryptocurrencies are becoming an important driver for the GPU business, other markets are far more important over the long term.

“Gaming is a much bigger business, data center is a much bigger business, our professional graphics is a much bigger business and, of course, in the future, everything that moves will be autonomous and we’ll have autonomous capabilities and that’s going to be a much bigger market.”

“Cryptocurrency just gave it that extra bit of juice that caused all of our GPUs to be in such great demand. But I think over the long-term, … our fourth growth drivers is what’s going to make Nvidia 10 times larger than it is today.”

Watch: Full Interview on CNBC
 
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