Chipmakers Nvidia, AMD Ride Cryptocurrency Wave — for Now
- Surge in ethereum market may provide short-term revenue boost
- Miners use the powerful processors to unlock digital value
Why Ethereum and Bitcoin Are So Popular Lately
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During California’s Gold Rush, it was often the sellers of pickaxes and shovels who made the most money. In the frenzy to get rich quick from cryptocurrencies, some investors are calling computer chipmakers the modern-day equivalent.
Shares of Nvidia Corp. and Advanced Micro Devices Inc. have gained at least 14 percent since the beginning of June, spurred in part by about a 10-fold boom from April to June in a market, known as ethereum, for a currency that can be used to buy computing power over the internet.