Nvidia's CTO has said he 'never believed that [crypto] is something that will do something good for humanity.'
Clearly Nvidia is in the hate stage of its relationship right now, as per recent comments to"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," Nvidia CTO Michael Kagan said.
It's no surprise that Nvidia is keen to position itself as the pre-eminent AI company, but I hadn't expected the company to outright slam cryptocurrency in the process. Kagan's comments touch on a debate that's been raging for a while, however, and that's whether cryptocurrency is a worthy alternative to fiat money or moreso a tool for generating profit. So far, we've seen a lot of examples of the latter, and not so many proving the former.
"I never believed that [crypto] is something that will do something good for humanity," Kagan continued."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."Nvidia was prone to downplaying the role cryptocurrency played on the increased demand we saw for graphics cards over the past few years, which combined with supply chain issues led to graphics card shortages worldwide.
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