At the company’s annual conference for software developers on Tuesday, Nvidia Corp. Chief Executive Jensen Huang is likely to announce new artificial intelligence processors and technology.
Analysts will be waiting for the company, which has its headquarters in Santa Clara, California, to provide more information about how it intends to increase access to processing power like that needed to create quickly evolving technologies like the chatbot ChatGPT.
Huang informed investors last month that it will start its own cloud computing service. This will provide easier access to massive systems made using its processors.
According to the company’s website, he will speak about “what’s coming next” in AI during the conference on Tuesday.
Nvidia has grown to dominate the market since it sells the chips needed to create generative AI technologies. Thus, this can produce new visuals based on a text prompt or respond to queries with text that resemble human speech.
In order to train the AI systems on enormous amounts of data, these new technologies rely on the simultaneous employment of thousands of Nvidia GPUs. For example, upstart company OpenAI used a system with more than 10,000 Nvidia chips from Microsoft Corp to build the technologies that support its enormously popular ChatGPT.
Nvidia owns more than 80% of the market for processors used in training AI systems, despite competition from Advanced Micro Devices and other new businesses in the AI chip sector.
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Nvidia shares have increased 77% this year, outpacing the 11.5% increase in the Nasdaq Composite Index. This is due to the AI boom. Nvidia has increased to a market valuation of $640 billion. This will make the company roughly five times more valuable than its longtime rival, Intel Corp.
