Unlike AI applications such as Chatgpt, cryptocurrencies do not bring “anything useful,” a top executive of Nvidia is convinced.
Unlike AI applications such as Chatgpt, cryptocurrencies do not bring “anything useful,” a top executive of U.S. chip maker Nvidia is convinced. The comment comes despite his company making significant sales in the space where its powerful processors are widely used to mint digital coins.Cryptocurrencies do not “bring anything useful for society,” according to a high-ranking representative of Nvidia, the leading manufacturer of graphics processing units .
The U.S. tech firm, which is also a major supplier of AI hardware and software, hasn’t been too keen on the crypto market. Two years ago, it tried to restrict the ability to use its GPUs to mint ether , the second largest cryptocurrency, which was popular among miners at the time. “All this crypto stuff, it needed parallel processing, and [Nvidia] is the best, so people just programmed it to use for this purpose. They bought a lot of stuff, and then eventually it collapsed, because it doesn’t bring anything useful for society. AI does,” Kagan explained.
Microsoft announced recently it had purchased tens of thousands of A100s, Nvidia’s AI-focused GPUs, for Openai, the developer of Chatgpt which the software giant funds. Nvidia also sold 20,000 units of its successor, the H100 chip, to Amazon for its cloud service, AWS, and another 16,000 to Oracle, the British daily detailed.
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