Tech tycoons struggle to break free from the influence of the cryptocurrency world
Cryptocurrencies and AI seem to be heading in opposite directions, intersecting at the intersection of computing power. Moore Threads, known as the “Chinese version of NVIDIA,” experienced a massive surge in its market value after its IPO on the STAR Market on December 5th. Despite a brief correction, the enthusiasm surrounding the company remained strong, with its market value reaching an impressive 383 billion yuan by December 12th. The stock price witnessed a sixfold increase compared to its issue price, leading to a substantial wave of wealth creation.
What is interesting is the entanglement of tech tycoons with virtual currencies, even as AI and computing power take center stage in the world of technology. From Elon Musk and Sam Altman to Jensen Huang, these trailblazers have frequently found themselves immersed in the world of virtual currencies. Now, with the rise of Moore Threads in China, a similar connection between tech tycoons and cryptocurrencies is becoming apparent.
Li Feng, a self-proclaimed co-founder of Moore Threads and the head of the online course Moore Academy, was involved in a property dispute related to cryptocurrency speculation. Reports surfaced on social media alleging that Li Feng failed in blockchain investments with Bitcoin, making it difficult to hold him accountable due to the nature of virtual assets. The funds involved in the dispute have not been returned, underscoring the complex and elusive relationship between computing power, AI, and virtual currencies.
Many tech tycoons have navigated the volatile world of cryptocurrencies. Notable figures like Elon Musk and Sam Altman have had contrasting experiences with virtual currencies, driven not solely by financial gain but by broader motives. Musk, who initially kept his distance from cryptocurrencies, later became a pivotal figure in the virtual currency realm, manipulating markets with his influential tweets.
On the other hand, Altman, the head of OpenAI, approached virtual currencies as a social experiment with projects like WorldCoin, emphasizing equitable distribution and distinguishing humans from AI through iris scans. These initiatives highlight the diverse motives of tech tycoons when engaging with virtual currencies.
Jensen Huang, the force behind NVIDIA, maintains a strategic relationship with virtual currencies through hardware manufacturing for mining operations. While NVIDIA has never publicly engaged in mining activities, the company’s GPU hardware serves as a crucial tool for cryptocurrency mining. Despite legal scrutiny over revenue attribution, Huang emphasizes the broader demand for GPUs beyond mining, showcasing the intricate dynamics between computing power and virtual currencies.
The intertwining of AI, virtual currencies, computing power, and electricity underscores the disruptive and innovative spirit driving these technologies. Tech entrepreneurs like Musk, Altman, and Huang embody a proactive approach towards decentralization and efficiency, venturing into high-risk, high-reward investment territories. As capital and entrepreneurs cross boundaries between AI and virtual currencies, the convergence of hardware, energy, and infrastructure opens up new opportunities for innovation and growth in the tech industry.
