Nvidia released its earnings for the third fiscal quarter of 2021 this week, showing better-than-expected results, driven by sales of its graphics processing unit (GPU) chips. The firm reported graphics segment revenue of $2.79 billion for the quarter, beating analyst estimates of $2.1 billion.
Within the graphics segment also falls the gaming division. Nvidia said that its new line of graphics cards based on a new technology called Ampere drew strong interest from computer and videogame console developers. For example, one of the new models, the Geforce RTX 3080, went on sale in September and sold out immediately.
Nvidia said gaming revenue climbed 37% year-on-year to $2.27 billion, a record for the company.
The graphics processing units produced by Nvidia are mainly used in video game consoles and graphics cards but they have also become popular with cryptocurrency miners, particularly those extracting coins like ethereum (ETH), monero (XMR), and zcash (ZEC).
For the quarter in review, Nvidia sold…