Does Nvidia like crypto?

Nvidia might have made a bundle off crypto miners buying the company's GPUs over the years, but that doesn't mean that the company likes cryptocurrency. In a recent interview with the Guardian, a company executive said that crypto adds "nothing useful to society," especially compared to AI chatbots like ChatGPT.

Will Nvidia's cards fuel the crypto boom?

Michael Kagan, the chief technology officer of Nvidia, says that he would rather see the processing power of the company's cards fuel something societally useful, such as the current AI boom. He compared the crypto boom to the high-frequency trading industry, which made his former company Mellanox a lot of money.

Should you buy Nvidia's crypto stock?

Yet, crypto opportunities remain a nominal function in Nvidia's fundamental performance. Although the crypto sector's underperformance may be adding pressure on the Nvidia stock's near-term performance, it is creating a compelling entry opportunity.