Nvidia Tech Chief: Chatgpt More Useful Than Crypto Mining

• Nvidia’s Chief Technology Officer, Michael Kagan, believes that cryptocurrencies do not bring „anything useful“ to society and that developing chatbots like Chatgpt is more worthwhile.
• Nvidia has tried to limit the ability to use its GPUs for mining cryptocurrencies, although the processors are popular in the industry.
• Michael Kagan argued that AI applications like Chatgpt can provide more value to society than mining crypto.

Nvidia Tech Chief Criticizes Cryptocurrencies

Nvidia’s Chief Technology Officer Michael Kagan has expressed his belief that cryptocurrencies do not bring „anything useful“ to society and that developing chatbots such as Chatgpt may be more beneficial. Despite this view, Nvidia still sells GPUs for use in cryptocurrency mining operations.

Nvidia Blocks Crypto Mining with GPUs

Two years ago, Nvidia attempted to restrict the usage of its powerful processors for minting digital coins and ensuring sufficient supply for preferred customers such as gamers and AI researchers among others. According to Kagan, the decision was justified because of the limited value of using these potent processors for crypto mining activities.

Chatgpt More Useful Than Crypto

Kagan further argued that AI applications like Chatgpt can provide much more value than cryptocurrency mining operations as they allow people to create their own machine or program simply by telling it what to do. The chatbot’s first version was trained on a supercomputer made up of about 10,000 GPUs from Nvidia itself. Moreover, Microsoft recently purchased tens of thousands of A100s from Nvidia for OpenAI while Amazon acquired 16,000 H100 chips from the U.S tech firm for its cloud service AWS and Oracle bought another 16,000 units from them too.

Nvidia Involved in Other AI Projects

Not only does Nvidia rent access to its chips through its DGX cloud service but it is also involved in other AI projects. During its annual GPU Technology Conference last year (GTC 2020), held virtually due to COVID-19 restrictions, the company showcased some impressive projects built on top of their hardware including autonomous driving cars and intelligent robots performing surgeries remotely assisted by doctors located miles away.


In conclusion, Nvidia’s CTO Michael Kagan believes that cryptocurrencies do not bring anything useful compared to other uses such as those associated with artificial intelligence applications like Chatgpt which are much more worthwhile than crypto mining activities according to him and his company which still sells video cards used by miners despite this view