Compute, Not Fiat Or Bitcoin, Will Be The ‘Currency Of The Future,’ Says Sam Altman As Nvidia’s Jensen Huang Highlights $100 Trillion AI Opportunity – NVIDIA (NASDAQ:NVDA)
March 20, 2024 6:47 AM | 2 min read
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In a recent interview, Sam Altman, the CEO of OpenAI, shared his thoughts on the future of technology, emphasizing the significance of computing power. He thinks “compute” will be the “currency of the future” instead of fiat or cryptocurrency king Bitcoin (CRYPTO: BTC).
What Happened: Altman, in a conversation on the Lex Fridman Podcast, expressed his belief that “compute” will become the most valuable commodity in the world. He stressed the need for substantial investments to increase computing capabilities.
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Altman compared the market for computing chips to that of mobile phones, noting that the demand for compute will be significantly different.
He suggested that the world’s need for compute will be difficult to predict and that the price of the technology will heavily influence it.
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Regarding the energy challenges associated with increased computing, Altman proposed nuclear fusion as a potential solution. He mentioned Helion Energy as a company doing the “best work” in this field and expressed hope for a global resurgence in nuclear fission.
“I think we should make new reactors. I think it’s just a shame that industry kind of ground to a halt.”
Why It Matters: Altman’s views on the future of computing align with recent industry trends.
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Nvidia Corp. (NASDAQ:NVDA) CEO Jensen Huang also recently predicted a prolonged “AI computing ramp,” suggesting that the demand for computing power will continue to grow, particularly in sectors like healthcare.
“The single-most important instrument of humanity is computing and now we have computers that could understand information of all different kinds. The impact to the industries are enormous,” Huang told CNBC’s Jim Cramer.
When asked why Nvidia is valued at over $2 trillion, Huang said it caters to the future of computing, a $100 trillion industry that can be transformed with AI.
While Altman thinks “compute” is the future currency, Nvidia investors have seen some of that in action this year already – the company’s stock is up more than 85% this year to date.
Analysts at Goldman Sachs think Nvidia’s new AI Superchips will ride the stock to $1,000.
Price Action: On Tuesday, Nvidia closed the regular trading session up 1.07% at $893.98, according to Benzinga Pro.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photos courtesy: Shutterstock
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