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Surging Demand for Nvidia GPUs for ChatGPT and AI Applications Amidst Decline in Crypto Mining

The popularity of ChatGPT and other AI technologies has significantly increased demand for Nvidia GPUs. The general public and prominent members of the IT community, like John Carmack, have both become aware of the excessive charges.

The price of the Nvidia H100 is increasing.

The price of Nvidia’s H100 deep learning GPU has risen to a staggering $40,000 per unit, and some vendors are even offering it for a few thousand dollars more. The fact that the price of such devices has increased is even more indicative of the demand since they already cost thousands of dollars. Previously, the H100 had a suggested retail price of under $35,000.

It should be noted that although BeInCrypto could not confirm any completed purchases at these prices, the units in the screenshot from eBay below are advertised for sale at prices ranging from $42,672 to $45,000.

Hardware like the H100 has become increasingly in demand over time due to its use in building language learning models and its AI applications. These models demand a lot of computing power, which drives the need for Nvidia’s technology.

To accommodate the demand, businesses will probably manufacture new kinds of gear. The possibility for new ChatGPT models is thrilling the general public, and the tech sector has already designated 2023 as one of the most exciting years.

ChatGPT’s Popularity Drives Demand for Nvidia H100 GPUs as Crypto Mining Slows”

As expected, the popularity of emerging AI applications, particularly ChatGPT and its equivalents, has increased the need for related technology. The H100 series, also known as Hopper GPUs, is now available from major cloud computing providers to meet the growing demand, and Nvidia claims that the H100 is the most potent GPU for AI. These highly coveted GPUs will all have Amazon, Microsoft, and Oracle cloud support.

On Nvidia GPUs, ChatGPT itself was trained, and it introduced the model on as many as 10,000 GPUs. The market’s growth suggests that generative AI will increase demand in the next few years.

After ETH switches to PoS, the excitement surrounding cryptocurrency mining decreases. The crypto-mining sector is in a slowdown, while the AI sector has been expanding rapidly. This market’s initial buzz has subsided. Last year, once Ethereum switched to a proof-of-stake system, the asset class suffered greatly.

Sum up!

The AI industry is anticipated to keep growing, given that key cloud computing providers support these GPUs and the possibility of new ChatGPT models in the upcoming years. The focus has shifted to AI technologies as the cryptocurrency mining industry has slowed down, mainly since Ethereum switched to proof-of-stake.