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NVIDIA Corporation (NASDAQ:NVDA) Unveils New Generation Chips As Wounds From The Crypto Mining Fad Take Time To Heal

During this year’s CES show in Las Vegas, NVIDIA Corporation (NASDAQ:NVDA) revealed a new generation of gaming chips. Notably, the GeForce RTX 2060 will deliver high-quality performance while “putting revolutionary Turing architecture GPUs within reach of tens of millions PC gamers worldwide.”

RTX 2060 is revolutionary

In particular, the GPU enhances both performance and graphics using proprietary AI and ray tracing technology. Interestingly, gamers will now access high performance synonymous with state-of-the-art gaming GPUs at a cheaper price. According to the company, the GPU will gross at an initial price of $349.

Notably, this new GPU trumps the older GTX 1060 in all aspects, most importantly, speed and performance. Interestingly, GTX is the most popular of all NVIDIA GPU portfolio. Further, RTX 2060 goes beyond all the performance metrics for GeForce GTX 1070 Ti. This is another one of NVIDIA’s premier GPUs that blaze trails in the gaming industry.

Notably, RTX incorporates Tensor Cores and RT Cores that are on the next level. This is to say that gamers can comfortably enjoy gameplay at 60 frames per second. According to the firm, enthusiasts will be able to access the products beginning January 15, 2019.

NVIDIA misled investors

Interestingly, NVIDIA expects that the new product offering will expedite the company’s healing from the scars of cryptocurrency mining. Notably, the firm lost $76 billion of market value after the cryptocurrency market collapsed. In particular, NVIDIA provided miners with mining GPUs. The segment earned billions of revenue at the height of mining craze. However, the company remains burdened with worthless inventory since the crypto industry ran aground.

Unfortunately for NVIDIA, the period of reliance on the crypto market spawned a lawsuit by some of its investors. Notably, the plaintiffs claim that the company misled investors by failing to disclose the real source of revenue growth. In particular, the Class Period falls between August 10, 2017, and November 15, 2018.

In the period, NVIDIA’s revenue growth was as a result of the massive demand for crypto mining GPU. However, the company failed to disclose the fact. Instead, the firm led its investors into believing that the growth came from the sale of gaming GPUs. As such, NVIDIA’s revenue crashed in the wake of the collapse of the crypto market.

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