Despite the high sales of Nvidia’s processors to the cryptocurrency industry, the US-based chip manufacturer declared that digital currencies do not provide any advantageous influence on society.
According to Michael Kagan, the Chief Technology Officer of the company, the potential of processing power can be optimized to serve more practical purposes, such as the AI-based chatbot ChatGPT.
In 2021, Nvidia distanced itself from the crypto community by releasing software that capped the use of their graphics cards for Ethereum mining.
In order to prioritize its essential clientele such as gamers and AI researchers, the company chose to restrict the supply of graphics cards for mining cryptocurrencies, a decision which Kagan defended due to the limited return of mining these digital assets.
Initially, ChatGPT was developed using a supercomputer of about 10,000 Nvidia graphics cards.
According to Kagan, Nvidia’s graphics cards became popular in the cryptocurrency industry due to their advanced technology. Eventually, the sector dissipated since cryptocurrency did not appear to be of great value to society when compared to artificial intelligence.
According to Kagan, ChatGPT grants people the capability to craft their own artificial machine, with custom specifications to their particular needs. Furthermore, in the case that the user isn’t satisfied with its performance, they can simply direct the machine to carry out an alternate set of instructions.
As an opposite, Kagan’s previous enterprise, Mellanox, reaped the rewards of high-frequency trading. This business was purchased by Nvidia before Kagan became entrenched in the cryptocurrency industry.
I never had any faith that crypto would be something that would benefit humankind. People do all sorts of peculiar things, such as buying and selling your goods, but you don’t direct the organization to support whatever the cause is.
Nvidia’s first notoriety was for producing high-powered graphics cards for computer gaming; yet, their creations have also unintentionally become a fundamental piece of the artificial intelligence transformation.
A comprehensive exploration revealed that the laborious, time-consuming process of teaching new AI systems, potentially consuming millions or billions in computing costs, could be streamlined with the cost-effective yet powerful GPUs available for gamers. As a consequence, Nvidia’s hardware is tailored for the artificial intelligence sector.