Disclaimer:

Disclaimer: The blog posts and comments on this blog and posts on social networks are not investment recommendation, are provided solely for informational purposes, and do not constitute an offer or solicitation to buy or sell any securities. The opinions expressed on the blog are Petar Posledovich's. Petar Posledovich does not guarantee the accuracy of the information presented on this blog and social networks. The information presented is "as is". The blog is stocks analysis and valuation, Bitcoin, Cryptocurrencies, Artificial Intelligence, AI, deep-learning focused. Independent, unbiased AI insights. Petar Vladimirov Posledovich is not liable for any investment losses incurred by reading and interpreting blog posts on this blog and posts on social networks. Conflicts of interest: I may possess some of the securities, currencies or their derivatives mentioned in the blog post and posts on social networks! The blog is property of Wolfteam Ltd. www.wolfteamedge.com Respectfully yours, Petar Posledovich

Sunday, March 10, 2024

Bitcoin Is The Main Reason Behind The AI Boom

 


Bitcoin is the main reason behind the AI boom, in Wolfteam Ltd.'s view.

Bitcoin mining or the creation of Bitcoins requires the usage of the complicated hashing tree algorithms or blockchain, which require powerful computing power. Translation: one needs powerful computer chips, GPUs to create Bitcoin.

The demand for powerful computer chips drives upwards the market capitalization of NVIDIA, surpassing 2 trillion USD. NVIDIA's computer processing chips or GPUs were mainly used by electronic games  players who turned out to be the most prolific Bitcoin miners. NVIDIA's wealth creation drives the increase of the market value and the stock price of others from the Magnificent 7 technology stocks, namely Apple, Microsoft, Alphabet, Amazon, Meta, NVIDIA and Tesla by powering with computer chips  Apple, Microsoft, Alphabet, Amazon, Meta and Tesla's software and hardware

NVIDIA currently has higher market capitalization of 2.19 trillion USD than all from the Magnificent 7 technology stocks, but Apple and Microsoft, chiefly influenced by the current Bitcoin, cryptocurrencies boom.


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