Bitcoin News and Finance Chatgpt More Useful Than Crypto, Nvidia Tech Chief Says Skip to main content

Chatgpt More Useful Than Crypto, Nvidia Tech Chief Says

Chatgpt More Useful Than Crypto, Nvidia Tech Chief Says

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.

Developing Chatbots More Worthwhile Than Crypto Mining, Nvidia Exec Claims

Cryptocurrencies do not “bring anything useful for society,” according to a high-ranking representative of Nvidia, the leading manufacturer 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 the Chatgpt chatbot, are more worthwhile than mining crypto, Nvidia’s Chief Technology Officer Michael Kagan told the Guardian.

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 (ETH), the second largest cryptocurrency, which was popular among miners at the time.

Kagan insisted that the decision, which was meant to ensure sufficient supply for Nvidia’s preferred customers — like gamers and AI researchers among others — was justified because of the limited value of using the potent processors to extract digital currencies.

“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.

“With Chatgpt, everybody can now create his own machine, his own program: you just tell it what to do, and it will,” he elaborated. The chatbot’s first version was actually trained on a supercomputer made up of about 10,000 GPUs from Nvidia, the newspaper remarked.

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.

Nvidia rents access to the chips through its DGX cloud service as well, and is involved in other AI projects. During its annual conference last week, CEO Jensen Huang referred to the company as the engine behind “the iPhone moment of AI,” and predicted the Nvidia-powered “generative AI” would “reinvent nearly every industry.”

While they are competing for resources like those provided by Nvidia, cryptocurrencies and artificial intelligence are likely to cross paths more and more often in the future. Last week, U.S. crypto exchange Coinbase announced it had tested Chatgpt as a tool for pre-listing risk assessment of tokens and said the results deserved further investigation.

What is your opinion about the statements of the Nvidia tech executive about cryptocurrencies and artificial intelligence? Share your thoughts on the subject in the comments section below.

Comments

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Blogarama - Blog Directory