Nvidia: cryptocurrencies are useless for society
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U.S. GPU maker Nvidia sees no global benefit from cryptocurrencies, despite the fact that, until recently, the company has benefited greatly from selling graphics cards for mining. About it in an interview The Guardian said the company’s chief technology officer Michael Kagan.
“All these cryptographic products needed parallel processing, and [видеокарты Nvidia] are the best on the market, so people just programmed them to use for that purpose. They bought a bunch of things, and then in the end everything collapsed, because it does not bring any benefit to society,” said Mr. Kagan.
Nvidia has previously profited significantly from the high demand for graphics cards from miners, store prices were high, and GPUs themselves became a scarce commodity. But as soon as the protocol of the Ethereum blockchain platform was updated last fall and ceased to require serious computing power from users, the demand for video cards collapsed, and their prices significantly increased. decreased.
This, as well as the drop in sales of personal computers and laptops, affected Nvidia’s financial performance: if in the 2021 and 2022 financial years (ending on January 31) revenue grew by 53% and 61%, respectively, then according to the results of the 2023 financial year her growth was zero.
Now Nvidia is apparently betting on a new fad: AI-powered chatbots like ChatGPT. “With ChatGPT, now everyone can create their own machine, their own program: you just tell him what to do and he will do it. And if it doesn’t work the way you want, you tell it: “I want something else,” said the company’s technical director.
As noted by The Guardian, Nvidia is already capitalizing on the hype around chatbots. So, the company sold tens of thousands of Microsoft processors focused on supporting the operation of neural networks in order to provide OpenAI with the necessary capacities for ChatGPT. Nvidia also sold 20,000 Amazon processors for cloud computing services, and another 16,000 to Oracle. In addition, the company offers rental of its chips through the DGX service. Renting eight H100 chips will cost customers nearly $37,000 per month.
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