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Cryptocurrencies are worthless to society, the top chipmaker Nvidia says

Apr 14, 2023

The chief of tech stated that the ChatGPT is more reasonable to develop instead of using the power to mine crypto

The most popular US-based chipmaker, Nvidia, came up with an unexpected statement saying that cryptocurrency doesn’t bring any usefulness for society. However, it needs to be mentioned that the company makes a fortune selling powerful processors, which are used for crypto mining.

The company also said that ChatGPT, a new AI chatbot, is more important to develop in the meantime.

Unlike the other tech companies, Nvidia has never welcomed the crypto industry. They even created a software that was specially designed for a practical use instead of mining the crypto, making sure the product will end up in the arms of those who need it for the right purposes.

ChatGPT vs Crypto

The first ChatGPT version was tested on a supercomputer, which consisted of around 10,000 Nvidia cards. Here is what Nvidia chief of technology, Michael Kagan had to say about crypto and ChatGPT:

“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.”

“With ChatGPT, everybody can now create his own machine, his own programme: you just tell it what to do, and it will. And if it doesn’t work the way you want it to, you tell it ‘I want something different’.”

“We were heavily involved in also trading: people on Wall Street were buying our stuff to save a few nanoseconds on the wire, the banks were doing crazy things like pulling the fibres under the Hudson taut to make them a little bit shorter, to save a few nanoseconds between their datacentre and the stock exchange.”

“I never believed that [crypto] is something that will do something good for humanity. You know, people do crazy things, but they buy your stuff, you sell them stuff. But you don’t redirect the company to support whatever it is.”

Nvidia and OpenAi partnership

Seems like the AI training was useful, and Nvidia made a big impact on OpenAi with their powerful processors. A couple of weeks ago Microsoft ordered tens of thousands of AI-oriented Nvidia processors to improve the OpenAi.

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