For example, 3D Center has tracked GPU prices and their data found that NVDA card prices were well over 2x the MSRP during much of 2021.

The demand for mining has driven GPU prices to the moon. From increases in the Ethereum network hashrate we can tell that millions of GPUs were added in the recent past. Ethereum can be mined by GPUs, and has been valuable enough to make wide scale mining profitable at recent coin prices and elevated GPU prices. GPUs purchased to use in cryptocurrency mining has been big business for a few years. Nvidia is the largest producer of discrete GPUs. The company's profits are going to take a big hit, and there is no quick recovery in sight. The comments to my recent Nvidia articles ( here and here ), and the NVDA price action following the horrendous Q2 earnings pre-announcement, tell me that the market has no idea what is about to happen. On top of that, GPU margins are also about to take a big dive. And GPU market demand is about to drop permanently by perhaps in excess of $10 billion.

Nvidia's ( NASDAQ: NVDA) revenues primarily come from GPUs.

Average nvda price drop