Nvidia Apologizes for RTX 3080 GPU Shortage, Increases Supply

  • Nvidia (NASDAQ:NVDA) on Monday apologized for selling out its GeForce RTX 3080 GPUs soon after preorders opened for their launch last week.
An Nvidia (NVDA) semiconductor chip on a black background.
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  • “We expected the best ever demand for the RTX 30-series, but the enthusiasm was overwhelming. We were not prepared for this level, nor were our partners. We apologize for this.”
  • The company cited a bot problem at its official store and retailers that contributed to inventory issues, causing Nvidia to cancel hundreds of orders manually before fixing the problem.
  • Nvidia added that the product is now in full production and that it has been increasing supply to partners weekly since August.
  • Last week, InvestorPlace contributor Nicholas Chahine wrote that as stocks were falling in recent days, Nvidia was on his list of the stocks to buy on the dip.
  • NVDA stock was up less than 1% on Tuesday morning in pre-market trading, after gaining 2.7% on Monday.

Article printed from InvestorPlace Media, https://investorplace.com/2020/09/nvidia-apologizes-for-rtx-3080-gpu-shortage-increases-supply/.

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