NVIDIA CTO Slams Crypto Mining, Advocates AI as Better Use of GPUs

NVIDIA Chief Technology Officer, Michael Kagan, has criticized cryptocurrencies for not providing any substantial value to society, reports The Guardian. Kagan emphasized that artificial intelligence, such as Large Language Models (LLM) tech, is a more productive use of processing power.

In 2021, NVIDIA attempted to curb the impact of cryptocurrency mining on their RTX 30 GPU series by introducing a “Lite Hash Rate” technology. This was designed to decrease mining efficiency, but cryptomining software developers managed to bypass these limitations within months. In 2022, NVIDIA had to pay a $5.5 million settlement to the SEC for failing to inform investors about the impact of mining on GPU demand.

NVIDIA, originally known for delivering high-performance graphics cards for PC gaming, is now increasingly focusing on AI technology. CEO Jensen Huang recently referred to the company as the driving force AI, with ‘Generative AI’ set to impact multiple industries. Major companies like Microsoft, Amazon, and Oracle have already invested in NVIDIA.

While NVIDIA’s GPUs remain in high demand, the CTO’s stance against crypto mining suggests a shift in the company’s priorities towards the development and advancement of AI technologies.