Nvidia Corp’s CEO, Jensen Huang, is expected to announce new artificial intelligence (AI) chips and technologies at the company’s annual software developers’ conference. The event is eagerly anticipated by analysts as they await news on how the company will expand access to processing power for developing fast-growing AI technologies like ChatGPT.
During a recent investor meeting, Huang stated that Nvidia would launch its cloud computing service, which will give users easier access to large systems that are built using Nvidia chips. At the conference, he will discuss the company’s vision for the future of AI and the upcoming developments.
Nvidia dominates the market for selling chips that are used to develop generative AI technologies, which can answer questions with human-like text or generate new images based on a text prompt. Microsoft Corp, for instance, used more than 10,000 Nvidia chips to develop the AI system that underpins its highly popular ChatGPT.
The new technologies are developed by using thousands of Nvidia chips at once to train AI systems on large data sets. Although Nvidia faces competition from Advanced Micro Devices and startups, it has over 80% of the market share for chips that are used to train AI systems.
The rise in AI technology has contributed to Nvidia’s growth in the stock market, with shares up by 77% this year. This figure is in contrast to the Nasdaq Composite Index, which has only increased by 11.5%. The company’s market capitalization is now worth $640 billion, making it about five times more valuable than Intel Corp, its longtime rival.
The eagerly anticipated conference offers an exciting opportunity for the company to reveal its new AI technologies and showcase its plans for the future. It also provides insight into how Nvidia plans to increase accessibility to processing power and maintain its dominance in the AI chip market.