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AI

Category: AI

artificial intelligence news
AIFeatured

Nvidia stocks rise with AI popularity

Our experts tell us how the record rise in Nvidia stocks and hype around AI affected prices of cryptoassets

Nvidia has become the first graphics processor manufacturer whose market capitalization has approached $1 trillion. Its devices have recently been used by cryptocurrency miners. But now the growth of the company’s shares is due to the growth of artificial intelligence technology.

On Tuesday, May 30, price of Nvidia stocks skyrocketed to a historic high. In its quarterly report, the company said that the proliferation of artificial intelligence technology is translating into record sales. And its net income for the quarter was markedly higher than what analysts had predicted.

Nvidia’s developments have spread in the video game industry, the field of professional visualization. As well as in the field of high-performance computing and the automotive industry. In this case, Nvidia’s onboard computers are used as the basis for unmanned cars. The company supplies technology to major market players such as Apple, Microsoft, Alibaba and Amazon.

In late 2006, Nvidia allowed third-party developers to use the processing power of its graphics processing units (GPUs) not only for graphics optimization but also for other purposes. Nvidia processors are good at a lot of simultaneous calculations. And in this they noticeably lose to central processors, the leading manufacturer of which is Intel.

Notable success of Nvidia outside of the video game industry has brought the company mining cryptocurrencies. And where the GPU has also proven its effectiveness. In 2020, amid rising prices for Bitcoin and other cryptocurrencies, Nvidia surpassed Intel in market value. And its quotes continued to rise, reaching a record high of almost $330 per stock at the end of 2021.

Demand for Nvidia graphics cards was supported by miners. Who assembled cryptocurrency mining farms based on the Proof-of-Work (PoW) algorithm from the devices. The most profitable of these has always been Ethereum (ETH). But last September, developers planned to move it to Proof-of-Stake (PoS). After that, the need for mining to issue new coins disappeared. And miners were forced to switch to much less profitable coins or refused to mine cryptocurrencies using GPUs in principle.

The fall in excitement around video card mining, as well as the collapse of the crypto market last year, brought down Nvidia’s stocks. But now the wave of AI has reawakened investor enthusiasm. Since the beginning of the year, the company has increased its market share by $220 billion. By comparison, Ethereum has a market capitalization of $228.3 billion. Nvidia stock is up 165% in 2023 alone. Nvidia’s capitalization now stands at $939.3 billion, which brings it closer to the $1 trillion mark.

AI and cryptocurrencies

On May 28, Nvidia unveiled several technologies related to artificial intelligence at Computex 2023. Among them is the Avatar Cloud Engine service. Which allows you to give the intelligence of side characters in video games. As well as the DGX GH200 supercomputer for generative AI, the Spectrum-X platform for cloud providers. And the MGX architecture for creating metaverse and a few others.

The flow of news around Nvidia has also affected the cryptocurrency market. Project tokens, which aggregators categorize as “artificial intelligence,” rose in value in less than a week. And some of them showed up to 60% growth. An example of such an asset was the AKT token of the Akash Network project. The developers position it as an open network for trading computing power.

The most capitalized assets in the category also benefited from positive news from Nvidia. The token of the SingularityNET project (AGIX), “the first decentralized artificial intelligence marketplace.” Which runs on the Cardano blockchain, rose in value by 10%. Fetch.ai (FET), a coin platform with machine learning algorithms, gained more than 6% in less than a week. And the OCEAN token used by the Ocean Protocol data economy project rose nearly 9%.

Similar trends took place in the market at the beginning of the year amid the mass spread of chatbots with artificial intelligence ChatGPT. Which still enjoys notable popularity, including in the cryptocurrency community.

Largest crypto asset in AI category

The largest crypto-asset in the AI category is the Render token (RNDR) of the Render Network project from OTOY. Its capitalization exceeds $900 million and it is traded on leading cryptocurrency exchanges. And its price has risen almost seven-fold since the beginning of the year.

OTOY provides cloud-based graphics rendering solutions. These are used by visual effects creators, artists, animators, designers, architects and engineers, according to the company’s website. Its products, which also involve AI. The company Meta also uses them.

As part of the Render Network project, OTOY developers have modified the code of their cloud computing platform for GPU rendering. And they did it so that RNDR tokens could be used to pay for the service, thus creating demand for the asset.

In 2021, OTOY released the Octane X Classic rendering app on the App Store. And which also uses Render Network technology. Also getting the project into Apple’s app store was a successful marketing move for RNDR. The token has risen more than 60 percent since May 13. This happened when The Wall Street Journal’s sources reported. That Apple would unveil a mixed reality headset at the WWDC 2023 event in early June. This was largely contributed to by a number of speculations that. That the device could, in theory, also use some of the Render Network’s developments.

Our experts note that in general, the coins of blockchain projects, which in one way or another involve artificial intelligence. Since the beginning of the year proved to be the group of the most successful in terms of crypto-assets investment. Along with tokens of the management of liquid stacking services.

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Crypto-Upvotes Team 02.06.2023 0 Comments
AIFeatured

Binance admits danger of account forgery through deepfakes

You can still tell the difference between real people and deepfakes in videos. But soon the AI technology will become so advanced that even the human eye will stop seeing the substitution

The deepfakes technology used by cryptocurrencies to bypass verification (KYC) on crypto exchanges. Such as Binance, for example, will become more and more sophisticated. This was warned by Binance’s director of security Jimmy Su, Cointelegraph writes.

The technology behind deepfakes consists of artificial intelligence (AI) synthesizing human images. How it works: the program combines several photos of a person with different facial expressions and makes a video out of them.

Cases when fraudsters use this technology in an attempt to bypass the verification process at the exchange have increased, Su told the publication. According to him, the attackers find photos of the victim on the Internet and use them to create dipfakes.

He explained that the tools have become so advanced. And that they can even properly respond in real time to audio instructions when verifying an applicant.

“Some checks require the user, for example, to blink his left eye or look left or right, look up or down. Deepfakes today are advanced enough to execute those commands,” Su said.

So far, he said, humans can still detect deception. But the AI will evolve to the point where it will be impossible for humans to tell a fake. Su acknowledged that this is a very serious problem and for now he sees the solution only in training users in risk management.

Our experts point out that Microsoft founder Bill Gates said in January. That the development of AI is the most important innovation in recent years. And one of the pioneers of neural networks and artificial intelligence technology, Jeffrey Hinton. Now he has also joined those who see such advances as a danger to humanity. He fears that the Internet will be flooded with fake photos. As well as videos and texts. Which will be created by AI, and the average person “will no longer be able to know what is true and what is not.”

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Crypto-Upvotes Team 25.05.2023 0 Comments
AIFeatured

The FT found out about plans of Elon Musk to create a competitor to ChatGPT

Elon Musk is gathering a team of researchers and engineers in the field of artificial intelligence. He is also negotiating with a number of investors to invest in a new startup

American billionaire Elon Musk plans to launch a startup in the field of artificial intelligence. Which will compete with the creator of ChatGPT OpenAI. This is reported by The Financial Times, citing its own sources.

The Tesla founder and Twitter owner is gathering a team of researchers and engineers in the field of artificial intelligence. Including the British company DeepMind, the interlocutors told the FT.

For the new project, Musk bought thousands of powerful graphics processors from Nvidia. GPUs are high-end chips. Which are necessary to achieve Musk’s goal of creating a large language model. And also artificial intelligence systems capable of processing huge amounts of content. Including the creation of human-like texts or realistic images, the FT specifies.

Elon Musk is also in talks with a number of investors from SpaceX and Tesla to invest in the new startup. “A bunch of people are investing in it, and they’re excited,” the source noted.

Our experts note that at the end of March, Elon Musk signed an open letter from experts and representatives of the IT industry. It said that artificial intelligence systems could pose a danger to society. They called on all AI labs to stop training systems more powerful than GPT-4. Until common security protocols are established.

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Crypto-Upvotes Team 15.04.2023 0 Comments
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Recent News
  • Binance admits danger of account forgery through deepfakes
    Binance admits danger of account forgery through deepfakes
    You can still tell the difference between real...
  • The FT found out about plans of Elon Musk to create a competitor to ChatGPT
    The FT found out about plans of Elon Musk to create a competitor to ChatGPT
    Elon Musk is gathering a team of researchers...
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