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NVIDIA CTO: Cryptocurrencies Don't "Bring Anything Useful for Society"

But AI does.

NVIDIA's chief technology officer Michael Kagan shared his views on cryptocurrencies saying they do not "bring anything useful for society" as opposed to artificial intelligence chatbots like ChatGPT.

It might sound surprising as the company's chips are popular in crypto mining, but NVIDIA has never really been warm toward the field.

“All this crypto stuff, it needed parallel processing, and [Nvidia] is the best, so people just programmed it to use for this purpose. They bought a lot of stuff, and then eventually it collapsed, because it doesn’t bring anything useful for society. AI does,” Kagan told the Guardian.

The company is invested in AI nowadays, saying it is "the iPhone moment of AI". Kagan believes that ChatGPT makes everyone a programmer as anyone can tell it what to do, and the AI will create the app. "And if it doesn’t work the way you want it to, you tell it ‘I want something different’." So AI does great things for people while crypto doesn't, Kagan thinks.

“I never believed that [crypto] is something that will 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 company to support whatever it is.”

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