Nvidia warned earlier this year that the great GPU shortage would last throughout 2021, and now the company expects supply issues to continue well into 2022. Speaking on Nvidia’s Q2 fiscal 2022 earnings call this week, Nvidia CEO Jensen Huang said he expects supply constraints for the majority of next year.
“I would expect that we will see a supply-constrained environment for the vast majority of next year is my guess at the moment,” said Huang according to a transcript of the call, spotted by Videocardz. Nvidia has committed to securing long-term supply commitments, but demand is still higher than supply right now during a global chip shortage.
Nvidia’s warnings of a GPU shortage well into 2022 might not seem as bad as they sound, though. Anecdotally, we’ve noticed Nvidia managing to resupply a range of its GPUs across both Europe and the US more frequently in recent weeks than we’ve seen since the RTX 30-series debuted last year.
AMD’s RX 6600 XT GPUs also sold at or under their recommended retail price recently, with plenty of the cards still in stock at UK retailers. It’s still not easy to just go out and buy the exact GPU you want, but it certainly feels like things are getting slightly better.
Despite the shortages, Nvidia still managed to hit a record revenue of $6.51 billion this quarter — up 68 percent year over year. Gaming made up $3.06 billion of Nvidia’s overall revenue, a big jump of 85 percent over the year prior. The company is now shipping most (80 percent) of its PC gaming GPUs with its Lite Hash Rate enabled to combat cryptomining demand.
While the gaming segment is clearly thriving at Nvidia, the company’s new Cryptocurrency Mining Processor (CMP) failed to hit Nvidia’s own predictions. CMP only hit $266 million in revenue, compared to the $400 million the company had predicted. China’s cryptocurrency crackdown has likely affected CMP sales, with miners selling off used GPUs.