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NVDA GTC Empower AI Progress! Who Will Win AI Battle?
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On March 21, at NVIDIA's 2023 GTC developer conference, Nvidia CEO Jensen Huang said the company is fully committed to AI with new services and hardware. The iPhone moment of AI has started. Boosted by AI heat, $NVIDIA Corp(NVDA)$ rises for a week, surpassing $Tesla Motors(TSLA)$ in market cap, second only to $Berkshire Hathaway(BRK.B)$. 1. Key Highlights of GTC - Nvidia All in AI 1) A100 chip and next-generation product H100 chip empower AIGC $NVIDIA Corp(NVDA)$ offers chips to some of the hottest companies in AIGC including OpenAI's ChatGPT, $Microsoft(MSFT)$'s Bing and $Alphabet(GOOG)$'s Bard. Nvidia's data center business, which provides chips like the A100, is now its cash cow. Due to the hot AIGC trend, data center brought in 60 percent of the company's revenue, $3.62 billion, in the fourth quarter of 2022. 2) AI Foundations service offers data for enterprises to build their own AI models $Adobe(ADBE)$ , Getty Images, Morningstar, Quantiphi and Shutterstock are using this new platform to build AI models. For example, Adobe is using the software to build generative AI models for images and video that will eventually be embedded in software such as Photoshop, Premiere Pro and After Effects. 3) DGX Cloud provides enterprises with super computing power DGX Cloud is a monthly service that allows customers to quickly set up large multi-node training workloads through the cloud, reducing training and development time for large models. NVIDIA said that US pharmaceutical company $Amgen(AMGN)$ is using DGX Cloud, along with NVIDIA's BioNeMo large language models, to accelerate drug discovery. US digital insurer $CCC Intelligent Solutions Holdings Inc.(CCCS)$ s is using DGX Cloud to accelerate AI model development for its property and casualty insurance platform. 2. Analysts from Morgan and Citi upgrade Nvidia's rating Morgan Stanley last week also upgraded Nvidia's stock rating, saying the company's investment in artificial intelligence is "one of the most important technological developments since the development of the mobile Internet." Citi Research analyst Atif Malik reiterated his assessment of Nvidia on Friday as companies like Alphabet and Meta engage in a "generative AI race," saying he raised his price target on Nvidia to $305 from $245 ahead of the GTC conference. To learn more about product updates from ChatGPT and Microsoft, you can read What Feature Do You Expect Most From Microsoft Copilot? GPT-4 is Coming! Will AI Stocks Take Another Rally? How Google Bard Fight against ChatGPT? How will Nvidia empower AI development? What's your view towards NVDA's new products? NVDA, MSFT & GOOG: Who will win the AI battle? Leave your comments here/join our topic to win tiger coins~
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