Nvidia Corp. (NASDAQ: NVDA), a multinational corporation and technology company, recently launched its latest artificial intelligence (AI) chip. In its announcement, the company claimed that this AI chip could carry out some tasks 30 times faster than its predecessor.
Nvidia holds an 80% market share and is focused on becoming the dominant player in the market. It is currently the third most valuable company in the United States after Apple and Microsoft. Over the last year, Nvidia’s shares have surged 240%, with its market value hitting $2 trillion in February 2024.
Nvidia CEO Jensen Huang discussed new software tools in addition to the B200 Blackwell chip during a recently held annual developer conference. When kicking off the conference, Huang jokingly stated that he hoped people were aware that it wasn’t a concert.
Techanalysis Research’s Bob O’Donnell, who was at the conference, stated in a recent interview that the buzz was in the air. O’Donnell noted that it had been a while since something like this was observed in the tech industry, noting that some individuals were likening the presentation to the early days of Steve Jobs.
Nvidia revealed that major customers, including OpenAI, Microsoft, Google and Amazon, were expected to use the new chip in cloud-computing services as well as for their own artificial intelligence offerings. The company added that the new software tools, dubbed microservices, enhanced system efficiency and made it easier for businesses to incorporate artificial intelligence models into their works.
A new line of chips that could run chatbots inside vehicles was also launched. Nvidia stated that Xpeng and BYD, electric car manufacturers based in China, would utilize these chips in their models. In addition to this, Nvidia’s CEO outlined a novel chip series for humanoid robot creation and invited some robots to join him on stage.
The company, founded in 1993, was originally known for manufacturing computer chips for processing graphics, primarily for computer games. Prior to the artificial intelligence revolution, it then began adding more features to its chips, noting that this helped machine learning. These investments have allowed it to occupy a larger share of the market.
Now Nvidia is a company to watch with how fast tech powered by artificial intelligence is spreading across the world, particularly in business.
Despite Nvidia facing strong competition from rivals such as Intel and AMD, experts believe that the market is growing at such a quick pace that even if Nvidia loses some share, it can still grow its business due to the numerous opportunities that exist.
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