Unlike AI applications such as Chatgpt, cryptocurrencies bring “nothing useful”, is convinced a senior executive of the American chipmaker Nvidia. The comment comes despite his company making significant sales in the space where its powerful processors are widely used to mint digital coins.
Developing Chatbots More Interesting Than Crypto Mining, Claims Nvidia Exec
Cryptocurrencies “don’t bring anything useful to society”, according to a senior official at Nvidia, the leading maker of graphics processing units (GPUs). The executive expressed this opinion despite his company selling quantities of video cards to the industry.
Other uses of their processing power, such as those associated with artificial intelligence (AI) applications like chatgpt chatbot, are worth more than crypto mining, Nvidia CTO Michael Kagan told the Guardian.
The American technology company, which is also a major supplier of AI hardware and software, has not been too keen on the crypto market. Two years ago, it attempted to restrict the ability to use its GPUs to create ether (ETH), the second largest cryptocurrency, which was popular among miners at the time.
Kagan insisted that the decision, which was aimed at ensuring sufficient supply for Nvidia’s favored customers – like gamers and AI researchers among others – was justified due to the limited value of using powerful processors to mine digital currencies.
“All this crypto stuff, it needed parallel processing, and (Nvidia) is the best, so people just programmed it to use it for that purpose. collapsed, because it doesn’t bring anything useful to society. AI does,” Kagan explained.
“With Chatgpt, anyone can now create their own machine, their own program: you just have to tell it what to do, and it will do it,” he explained. The first version of the chatbot was actually trained on a supercomputer consisting of around 10,000 Nvidia GPUs, the newspaper noted.
Microsoft recently announced that it has purchased tens of thousands of A100s, Nvidia’s AI-focused GPUs, for Openai, the developer of Chatgpt that the software giant is funding. Nvidia also sold 20,000 units of its successor, the H100 chip, to Amazon for its cloud service, AWS, and 16,000 others to Oracle, details the British daily.
Nvidia also leases access to chips through its DGX cloud service and participates in other AI projects. At his annual conference last week, CEO Jensen Huang called the company the engine behind “AI’s iPhone moment” and predicted that “generative AI” powered by Nvidia would “reinvent nearly every industry.”
As they compete for resources like those provided by Nvidia, cryptocurrencies and artificial intelligence are likely to intersect more and more often in the future. Last week, US crypto exchange Coinbase announced that it had tested Chatgpt as a token pre-listing risk assessment tool and said the results merited further investigation.
What’s your take on Nvidia’s technology executive’s statements on cryptocurrencies and artificial intelligence? Share your thoughts on the subject in the comments section below.
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