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Taiwan’s dominance in AI chips has other countries such as the United States and Australia scrambling to catch up to avoid being left out of the AI arms race.
This week, Nvidia CEO Jensen Huang gave a two-hour speech at the Taipei International Computer Show in Taiwan, declaring that “the next industrial revolution has begun.”
Huang Renxun said: “Many companies and countries are working with NVIDIA to shift trillions of dollars worth of traditional data centers to accelerated computing and build a new type of data center – the AI factory to produce a new commodity: artificial BroadCast Unitedligence.”
Nvidia CEO Jen-Hsun Huang: “A new era of computing is beginning.”Credit: Associated Press
In May, the company reported a $14 billion quarterly profit and said it would design new chips every year, rather than every two years. Nvidia processors are in short supply and the company is about to release its next-generation AI chip, the H200, which it says has superior memory capacity and bandwidth.
“The next company that reaches the next big breakthrough can announce a breakthrough in AI, and the second company after that can announce something that’s 0.3% better than that,” Huang said.
“Do you want to be the company that delivers breakthrough AI, or the company that delivers 0.3% better AI?”
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The company plans a 10-for-1 stock split on Friday, a move that will affect its share price but not its overall valuation.
Nigel Green, chief executive of deVere Group, one of the world’s largest independent financial advisory firms, said Nvidia’s stellar performance highlighted why “almost every investor needs exposure to AI”.
“As a key player, Nvidia’s performance not only affects its own valuation, but also sets the tone for the broader AI industry,” he said.
Green added: “AI has the potential to transform every industry, including healthcare, finance, transportation and manufacturing.”
“The global AI market is expected to grow exponentially in the coming years, driven by advances in machine learning, natural language processing, and data analytics. Companies that adopt these technologies are likely to gain a competitive advantage by automating processes, improving decision making, and enhancing customer experience.”
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Nvidia, the stock at the heart of the artificial BroadCast Unitedligence boom, appears to still have some way to go in its rebound even after its recent gains.
Michael O’Rourke, chief market strategist at Jonestrading, said that because analysts expect the company’s profits to grow even faster than its stock price, the stock remains attractive compared with other large technology companies that are not growing as fast, such as Microsoft.
“Nvidia is growing much faster at the same valuation,” he said. “That kind of fundamental growth is unmatched in a super-public company.”
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Bloomberg
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