What happened Shares of Nvidia (NASDAQ: NVDA) were trading down almost 3% after the market open on Monday after Morgan Stanley cautioned investors about the potential for slowing demand in graphics processing units (GPUs). As of 12:32 p.m. ET on Monday, the stock had recovered but was still down 1.4%, with the Nasdaq Composite down 0.4%. Morgan Stanley believes Ethereum's planned shift to a proof-of-stake model could slow demand for GPUs that are used to mine cryptocurrencies. This could have an impact on near-term demand for Nvidia's GeForce GPUs that have been used in crypto mining, although it's not clear how much of Nvidia's gaming revenue is coming from the cryptocurrency market. So what Nvidia has reported robust growth in its gaming segment over the last year. In the most recent quarter, the gaming business grew 31% year over year, totaling nearly half of the company's total revenue. Since 2018, Nvidia has moved to dampen sales of its gaming GPUs to crypto miners with the release of Cryptocurrency Mining Processors. But the company still doesn't know exactly how much revenue is coming from crypto-related sales. In the fiscal first-quarter earnings call, chief financial officer Colette Kress said, "The extent in which cryptocurrency mining contributed to gaming demand is difficult for us to quantify with any reasonable degree of precision." Kress also mentioned that the reduced pace of increase in Ethereum's hash rate means that it likely reflects lower mining activity on GPUs. As a result, management expects a lower contribution from mining. Now what Nvidia might see slowing growth from gaming over the next year as it laps difficult growth comparisons. Still, management believes its gaming segment is facing a $100 billion long-term addressable market, which provides plenty of room for more growth over the next decade. The gaming segment is currently operating at an annual revenue run rate of just $14 billion. 10 stocks we like better than NvidiaWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Nvidia wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 2, 2022 John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Ethereum and Nvidia. The Motley Fool has a disclosure policy.Source