NVIDIA CFO Colette Kress participated in the Raymond James Institutional Investors Broker Conference Call, which took place in a virtual capacity yesterday instead of the usual venue in Orlando, Florida.
The CFO of the company made some interesting remarks during the Q&A session, especially regarding the extremely successful launch of the GeForce RTX 3000 series of graphics cards based on Ampere.
We launched our Ampere-based 3000-series GPUs earlier last year and it was a huge success, probably the most successful game launch we had. With a second generation RTX, we now also have a list of more than three dozen games for overall jet tracking and just a strong performance improvement with our 30 Series. The question was incredible.
We start with the launch of the product, and start with several of our top charts. Our 3070, 3080 and 3090 have been on the market for several months now. Over this period, it demonstrates the ability of the 3000 Ampere series to not only be out there for our true gamers, but also to support creators and broadcasters who use it. We therefore expect the 30 series to continue to introduce new products as we move forward.
Our latest product we introduced was the RTX 3060. The 60’s class is a great place for gamers, an excellent performance at a great price. The 60s class is mainly preferred by our iCafes which you will find in the Asia-Pacific region, as well as many of our system builders as they build custom general systems. The 3060s were launched last week. It sold out within hours. It’s carefully designed for gamers and mainly gamers, and they were excited about it.
We now have the Ampere architecture from $ 329 and up. So we have a big difference in price points to support any type of gamer, depending on what they want to get in the market for and pay for. All these prices are far below the cost of a new console.
Later in the Q&A, the NVIDIA chief financial officer even stated that the recent crypto boom may not have affected the company’s playing quarter due to the existing (and probably unfortunate) supply issues with Ampere. In light of the strong demand, NVIDIA reckons that growth will continue this year after the promising last quarter.
Our quarter for games, for example, would probably have been the same with or without crypto, because our supply is limited. So we will continue to look at it. We believe that our CMP product will make us more visible to understand the size of the crypto within our quarter.
[…] This is of course a situation that we would like to be more optional. We would like more general offer. But remember, our problem is that demand is strong. Demand is strong and we believe we will grow fairly well as this demand will continue before this year.