From curious students to confused workers, many people have attempted to ascertain the significance of the emergence of AI in the past year and how the field will grow in the future. One of the leading AI companies, NVIDIA, now the world’s third most valuable company at a whopping $2.25 trillion, has just experienced an immensely profitable 4th quarter to cap off an exceptional performance in 2023. The technology company that manufactures the most GPUs – Graphics Processing Units – which are used in all kinds of technology and are essential for today’s generative-AI era exceeded expectations by earning an additional $2 billion in revenue. The business is known for its robust production of semiconductors and high-end graphics processing units and holds approximately 80% of the global market share in GPU semiconductor chips as of 2023. It is a large contributor to the video game and lucrative technology industry.
NVIDIA reported to Wall Street both high earnings per share and profit margin values, demonstrating its strong financial standing in the business world. The company recently invested a significant amount of its money and effort into artificial intelligence models and, as a result, has been the primary beneficiary of the promising new industry. NVIDIA’s AI Chips – or GPUs – operate by a unique parallel processing system, where several computational processes are carried out simultaneously. As a result of the process, the company has seen rapid growth in profits and an 85% rise in shares. Current NVIDIA GPUs are the standard for machine learning and offer a performance millions can enjoy. These chips are often called the “gold” of artificial intelligence due to their rare scarceness worldwide. Along with gaming and AI, NVIDIA has significantly contributed to data science, virtual reality, and autonomous vehicles.
The company’s stock has tripled over the past year, and it is nearly entirely due to the rise in popularity of Artificial Intelligence over the past year. As the demand for AI has increased, so has NVIDIA’s graphics processing units, which seem to be by far the most promising pieces of technology to support the rapidly growing technology industry.
