Nvidia: GPU Supplies to Remain Constrained for ‘Vast Majority’ of 2022

The company also says its ‘LHR’ Ethereum mining-capped cards made up over 80% of all Q2 RTX 3000 shipments.

By Michael Kan

Bad news for graphics card buyers. Nvidia’s CEO is predicting the great GPU shortage will persist through this year and for most of 2022.

“I would expect that we will see a supply constrained environment for the vast majority of next year is my guess at the moment,” Jensen Huang said during an earnings call on Thursday.

“A lot of that has to do with the demand being so great,” he added. Surprisingly, Huang didn’t blame cryptocurrency miners for buying up GPU supplies. Instead, he pointed to how millions of PC gamers are still hoping to upgrade to an RTX 3000, which uses its Ampere architecture.

“Ampere is off to an incredible start. It’s the best-selling GPU architecture in the history of our company,” Huang said. “And yet, we’ve only upgraded less than 20% of our total install base. So there’s another 80% of the world’s PC gaming market that we have yet to upgrade to RTX.”

That said, Nvidia has been trying to dissuade cryptocurrency miners from taking supplies away from consumers. In February, the company began implementing an Ethereum mining limiter starting on the RTX 3060…