"Nvidia forecast lags Wall Street as crypto demand evaporates"

In late after-hours trade the stock is changing hands at $247.50 off another $9.94 (-3.86%) after dipping $1.64 in the regular session.
From Reuters:

Nvidia Corp (NVDA.O) shares sank as much as 5 percent in after-hours trading on Thursday after the chip maker said cryptocurrency-fueled demand had dried up and it forecast sales below Wall Street targets, overshadowing quarterly results that otherwise beat expectations.

The company’s bleak outlook for cryptocurrency chips was a sharp reversal from the prior fiscal quarter, when sales to so-called miners of digital currencies such as bitcoin and ethereum amounted to $289 million, nearly a 10th of Nvidia’s revenue. Nvidia previously had forecast sales for cryptocurrency chips for the fiscal second quarter ended July 29 of about $100 million. On Thursday it reported actual revenue of only $18 million. 

“Whereas we had previously anticipated cryptocurrency to be meaningful for the year, we are now projecting no contributions going forward,” Nvidia said. It projected third-quarter revenue of $3.25 billion, plus or minus 2 percent, falling short of analyst estimates of $3.34 billion, according to Thomson Reuters I/B/E/S....MORE

And more tomorrow.
Earlier:
Ahead of NVIDIA Earnings: The Last of the "Easy" Comparisons (NVDA)