Nvidia Corp closed in on a trillion-dollar market value on Thursday as shares surged 25% following a bumper earnings report that forced Wall Street to reassess the potential windfall for the chipmaker from an artificial intelligence boom.
to their search engines and productivity software as they seek to dominate the industry.
The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. REUTERS/Robert Galbraith Goldman Sachs analysts estimate that U.S. investment in AI could approach 1% of the country's economic output by 2030.The large computers that process data and power generative AI run on powerful chips called graphics processing units .GPUs are designed to handle the specific kind of math involved in AI computing very efficiently. By contrast, generic central processing units from companies like Intel handle a broader range of computing tasks with less efficiency.
OpenAI's ChatGPT, for example, was created with thousands of Nvidia GPUs. Tesla CEO Elon Musk has also secured GPUs from Nvidia for his AI startup, the Financial Times reported in April.Nvidia's main competitors include Advanced Micro Devices and AI chips made in-house by companies such as Amazon.com, Google and Meta Platforms.
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