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The US chip-maker Nvidia has said cryptocurrencies don’t “bring anything useful for society” despite the corporate’s powerful processors selling in huge quantities to the sector.
Michael Kagan, its chief technology officer, said other uses of processing power equivalent to the unreal intelligence chatbot ChatGPT were more worthwhile than mining crypto.
Nvidia never embraced the crypto community with open arms. In 2021, the corporate even released software that artificially constrained the power to make use of its graphics cards from getting used to mine the favored Ethereum cryptocurrency, in an effort to make sure supply went to its preferred customers as a substitute, who include AI researchers and gamers.
Kagan said the choice was justified due to limited value of using processing power to mine cryptocurrencies.
The first version ChatGPT was trained on a supercomputer made up of about 10,000 Nvidia graphics cards.
“All this crypto stuff, it needed parallel processing, and [Nvidia] is the very best, so people just programmed it to make use of for this purpose. They bought lots of stuff, after which eventually it collapsed, since it doesn’t bring anything useful for society. AI does,” Kagan told the Guardian.
“With ChatGPT, everybody can now create his own machine, his own programme: you simply tell it what to do, and it’ll. And if it doesn’t work the way in which you would like it to, you tell it ‘I need something different’.”
Crypto, against this, was more like high-frequency trading, an industry that had led to lots of business for Mellanox, the corporate Kagan founded before it was acquired by Nvidia.
“We were heavily involved in also trading: people on Wall Street were buying our stuff to avoid wasting a number of nanoseconds on the wire, the banks were doing crazy things like pulling the fibres under the Hudson taut to make them somewhat bit shorter, to avoid wasting a number of nanoseconds between their datacentre and the stock exchange,” he said.
“I never believed that [crypto] is something that can 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 corporate to support whatever it’s.”
Originally best known for producing powerful graphics cards for PC gamers to play the most recent games, it was almost by probability that Nvidia’s products took their place at the guts of the AI boom.
The computationally intensive work of coaching a brand new AI system, which might take thousands and thousands of billions of dollars-worth of computing power, happened to work significantly faster on the forms of easy yet powerful processors that had been adopted by gamers.
Two weeks ago, Microsoft said it had bought tens of 1000’s of Nvidia’s AI-focused processors, the A100 GPU, to be able to power the workload of OpenAI. Nvidia has sold 20,000 H100s, the successor to that chip, to Amazon for its cloud computing AWS service, and one other 16,000 have been sold to Oracle.
Nvidia also rents access to the chips directly, with its DGX cloud service starting at just below $37,000 (£30,250) a month for just eight H100s wired together in a “cluster”.
Speaking at the corporate’s annual conference last week, Jensen Huang, Nvidia’s chief executive, described the corporate because the engine behind “the iPhone moment of AI”, and said the “generative AI” his firm powers would “reinvent nearly every industry”.
Last 12 months, Nvidia’s $40bn takeover of the UK-based tech firm Arm collapsed due to regulatory difficulties.
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