Nvidia stock is down over 42% so far since the beginning of the year. Nvidia said that revenue from its dedicated cryptocurrency mining chips, CMP, was "nominal," contributing to a 66% annual decrease in its OEM and other category. Automotive remains small, although it increased 45% year-over-year to $220 million. Its professional visualization business, which sells graphics chips for enterprise uses, declined 4% annually to $496 million. Nvidia also has a few smaller lines of business.
It rose 61% on an annual basis to $3.8 billion, driven by what the company calls "hyperscale" customers, which are big cloud providers. The company's data center business did slightly better. In addition to AMD, its competitors include Intel, Qualcomm and AI-accelerator companies such as Graphcore.Nvidia said it would adjust prices with its retailers to address "challenging market conditions" for the industry that it said it expected to persist through the current quarter. More recently, it has moved into the mobile computing market, where it produces Tegra mobile processors for smartphones and tablets as well as vehicle navigation and entertainment systems. They are deployed in supercomputing sites around the world. In addition to GPU manufacturing, Nvidia provides an API called CUDA that allows the creation of massively parallel programs which utilize GPUs. Its professional line of GPUs are used in workstations for applications in such fields as architecture, engineering and construction, media and entertainment, automotive, scientific research, and manufacturing design. Nvidia is a global leader in artificial intelligence hardware and software. It is a software and fabless company which designs graphics processing units, application programming interface for data science and high-performance computing as well as system on a chip units for the mobile computing and automotive market. NVIDIA Corporation is an American multinational technology company incorporated in Delaware and based in Santa Clara, California.
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