Graphics card specialist Nvidia has said that there's going to be a shortage of its chips for most of this year.
That's according to EVP and chief financial officer Colette Kress, who wrote in a post on the company's website that while the firm is set to outperform its forecast for the first quarter of FV 2022, supply won't be meeting demand for 2021. The exec does reckon that there'll be enough supply to see "sequential growth" this year.
“While our fiscal 2022 first quarter is not yet complete, Q1 total revenue is tracking above the $5.30 billion outlook provided during our fiscal year-end earnings call. We are experiencing broad-based strength, with all our market platforms driving upside to our initial outlook,” she said.
“Overall demand remains very strong and continues to exceed supply while our channel inventories remain quite lean. We expect demand to continue to exceed supply for much of this year. We believe we will have sufficient supply to support sequential growth beyond Q1."
In January of this year, Kress told investors that GPU stock shortages would continue until March. At the time the exec was cagey about whether this increased demand had anything to do with the surge in cryptocurrency, but the following month Nvidia rolled out a piece of dedicated crypto hardware to serve this audience, while also limiting the mining capabilities of its new RTX 3060 graphics card.