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ChatGPT Spurs Nvidia Deep Learning GPU Demand Post Crypto Mining Decline

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, including John Carmack, have both become aware of the exorbitant charges.

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 gone up is even more indicative of the demand since they already cost in the hundreds of dollars. Previously, the H100 had a suggested retail price of under $35,000.

It should be noted that although BeInCrypto was unable to 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 been increasingly in-demand over time due to its usage in building language learning models and its applications in AI. These models demand a lot of computing power, which drives the demand 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 interesting years. As was to be expected, the popularity of emerging AI applications, particularly ChatGPT and its equivalents, has increased the need for associated technology. To meet the growing demand, the H100 series, also known as Hopper GPUs, is now available from major cloud computing providers. 

Nvidia claims that the H100 is the most potent GPU for AI. These highly coveted GPUs will all have cloud support from Amazon, Microsoft, and Oracle. On Nvidia GPUs, ChatGPT itself was trained. In fact, it trained the model on as many as 10,000 GPUs. The growth of the market suggests that generative AI will increase demand in the next years.

The crypto-mining sector is somewhat in a slowdown while the AI sector has been expanding rapidly. This market’s initial buzz has subsided. Last year, once Ethereum made the move to a proof-of-stake system, the asset class suffered greatly. Investor interest in the imminent Ethereum upgrade, which will allow stakeholders to unstake their ETH, has reached its peak. Currently, this is the only topic of discourse; but, with Bitcoin looking up, it’s possible that in the near future, the attention may return to mining.


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