by winston » Thu Jun 29, 2017 11:13 am
not vested
Stocks to Buy: Nvidia Corporation (NVDA)
If you love the blockchain story but just can’t see yourself putting up $2,500 for a single bitcoin, Nvidia Corporation (NASDAQ:NVDA) is a name to put on your stocks to buy list.
NVDA graphics cards, or GPUs, are incredibly popular with cryptocurrency miners. According to Engadget, “modern GPUs have enough general-purpose computing power to process money formats like Bitcoin much faster than a CPU alone.”
The problem is that standard GPUs aren’t purpose-driven for currency mining algorithms. So in response to the bitcoin craze, NVDA did what any company would do under the circumstance: create a mining-specific GPU.
Nvidia rival Advanced Micro Devices, Inc. (NASDAQ:AMD) has also jumped onboard the bitcoin bandwagon. Neither companies provided official confirmation about their mining GPUs. However, the broader takeaway is that cryptocurrencies are attracting significant attention from major players.
Furthermore, it’s not even bitcoin that provides the greatest opportunity for NVDA and other semiconductors. With a market capitalization exceeding $41 billion, the king of the cryptocurrencies is difficult and economically onerous to mine.
But today, hundreds of smaller digital coins are circulating across the internet. Undoubtedly, several currency miners looking to make a speculative buck will be lured by NVDA and their powerhouse GPUs.
Cryptocurrencies aren’t for everyone, but Nvidia is a proven company with exposure to an exciting growth industry.
Source: Investor Place
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