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The expected YoY decline was a result of windfall gains from the sale of GPUs (graphics processing units) to crypto miners. The company reported a sudden spike in the channel inventory of mid-range GPUs in the second half of 2018 as the crypto boom ended but demand from gamers did not pick up. At the fiscal 2019 third-quarter earnings call, NVIDIA’s CEO Jensen Huang stated that the excess inventory would take one to two quarters to clear. To help the channel clear inventory, the company even halted shipments of its Pascal-based mid-range GPUs. NVIDIA’s efforts have materialized, and the excess inventory has almost cleared in just one quarter.

They said it would take one to two quarters and they cleared the inventory in one quarter.

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