The Chiphersteller Nvidia has once again against cryptocurrencies positioned. In an interview with the Guardian leaves CTO Micheal Kagan a dig at crypto: “Crypto has no use for society,” he says.
For the graphics card manufacturer Mining on the one hand a lucrative business, on the other hand the company is taking action against prospecting. This drove prices and demand for GPUs higher until the crypto crash brought them down. On the other hand, Nvidia built one Software Brake for crypto mining with its graphics cards (futurezone reported).
The crypto brake should ensure that more graphics cards are available for gamers. Kagan justifies this step by saying that mining cryptocurrencies with this computing power would have little value.
Nvidia focuses on AI
After the gaming business is no longer stable enough for Nvidia (more on that here) and the market keeps collapsing, the company focuses on artificial intelligence. That was as part of the in-house conference GTC clearly. So became ChatGPT Trained with a supercomputer that’s off 10,000 graphics cards consists. Microsoft just recently bought tens of thousands of Nvidias A100 AI processors, Amazon bought 20.000 of the successor H100.
Ocean CEO Jensen Huang Nvidia is the engine of the “iPhone moment for AI”. His company’s processors would enable an artificial intelligence that could transform almost any industry.
In contrast, crypto is pointless: “All this crypto stuff needs parallel processing and Nvidia is the best here. That’s why people programmed it for this purpose. They bought up a lot and now it collapsed because it wasn’t useful for the brings company, but AI does,” says Kagan.
Nanoseconds advantage in trading
ChatGPT makes it possible to write your own programs and react to the wishes of the users. Crypto, on the other hand, is more comparable to high-frequency trading, i.e. trading on the stock exchange that is operated with computers.
As a former CEO of the company Mellanox Kagan has a lot of experience with this. Wall Street traders would have bought the company’s products in order to trade “a few nanoseconds” to save, Kagan said. “I never thought of crypto as something that would bring anything to humanity. People do crazy things, but they buy stuff and you sell them stuff.” You don’t adapt the company to support what these people do.
