Nvidia considers cryptocurrencies useless for society

In recent years, there has been a surge in demand for graphics cards due to periodic interest in cryptocurrencies and mining. This has led to record prices for graphics accelerators and a shortage in the market. Although Nvidia is one of the companies benefiting from this demand, it has never officially supported mining and cryptocurrencies. In fact, special versions of video cards with protection against mining Ethereum were even released to combat it.

Nvidia's Chief Technology Officer, Michael Kagan, stated in an interview with The Guardian that he does not believe cryptocurrencies bring any real benefit to society. He believes that all the computing power used for mining could be put to more useful things, such as the development of artificial intelligence. Kagan's comments come as no surprise, given that Nvidia's accelerators are already being widely used in the development of AI.

ChatGPT, an AI language model, has been praised for its ability to write programs based on accurate descriptions and queries. The first version of ChatGPT was trained on a supercomputer with about 10,000 Nvidia accelerators. Microsoft has recently purchased tens of thousands of Nvidia A100 processors to support OpenAI workloads, while Amazon has purchased 20,000 Nvidia H100s for AWS cloud computing and Oracle has purchased 16,000 of these accelerators.

Financial analysts are predicting record profits for Nvidia in the coming years, as the company is expected to benefit greatly from the generative AI boom. It is no surprise that Nvidia representatives continue to praise AI and talk about how these technologies will change our future.