Nvidia GTC event to showcase generative AI ‘arms race’ -Dlight News

Nvidia GTC event to showcase generative AI 'arms race'

Next week Nvidia Corp. ’s developer conference promises to showcase an “arms race” of generative artificial intelligence. Nvidia NVDA, +0.72% will kick off its GTC developer conference Monday, and while Nvidia Chief Executive Jensen Huang has been championing AI and machine learning for years, the focus on AI/ML will be even more intense this year as models like OpenAI’s ChatGPT go mainstream. Captivate the imagination. Earlier in the month, Nvidia Chief Financial Officer Colette Kress told an investor conference that AI is at “an inflection point,” not only with the model’s growing popularity, but also as more and more businesses face cost pressures. Apps are seen and marketed as efficiency tools. Citi Research analyst Atif Malik reiterated Nvidia’s buy on Friday and Alphabet and Meta Platforms Inc. Ahead of GTC raised his price target on the stock to $305 from $245 as companies like META, -4.55 wage a “generative AI arms race.” % Competition for their own AI solutions “Despite macro concerns, hyperscalers are prioritizing cloud capex spending on a broader set of generative AI/ML use cases,” Malik said. “We see Nvidia’s flagship GTC conference next week as a key event to showcase the future of generative AI for the industry.” Read: Nvidia’s stock upgraded as AI is deemed ‘too megatrend’ to ignore This past week, OpenAI, Microsoft Corp. Backed by a multibillion-dollar investment from MSFT, +1.17% , released its newest, “secure” version of ChatGPT. , GPT-4, and while Malick said it’s “not perfect,” it’s “definitely impressive.” The buzz behind AI couldn’t come at a better time for Nvidia, which Amazon.com Inc. of AMZN, -1.09% AWS, Microsoft’s Azure, is a major hardware supplier of graphics processing units to data centers used by. and Alphabet Inc. of GOOG, +1.38% GOOGL, +1.30% Google Cloud Platform. Read: Nvidia adds to AI hype with new cloud-based service, stock jumps on forecast While Microsoft throws big behind ChatGPT, Google expands its workplace and cloud platform with new AI tools and China-based Baidu Inc. BIDU, +6.28% recently unveiled its Ernie bot. Meanwhile, at its Innovate event this past week, AWS said that AI models are growing at a tenfold rate every year and require a lot of GPUs. Read: It’s not the ‘Twilight Zone’, Silicon Valley bank turns big tech into ‘new safety trade’, some analysts expect, after a two-year-long semiconductor shortage caused by the Covid-19 pandemic turns into a chip glut in mid-2022. Growth in that important data-center category — the same data centers that run and teach AI models, and sustain the rest of our digital existence — will slow significantly in 2023. When GTC begins on Monday, Nvidia’s Huang will deliver his keynote address. on Tuesday about “This Defining Moment in AI.” Read: Microsoft stock posted best week in nearly 8 years after SVB collapse, OpenAI’s ChatGPT popularity For example, Malik noted that Microsoft’s new AI virtual machine, the ND H100 v5 VM, uses eight to thousands of Nvidia H100 data-center units on demand. , and that Microsoft will reportedly have to prioritize AI demand.

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