The CEO of Nvidia issued a warning this weekend: Embrace AI or get left behind.
In his commencement address Saturday (May 27) at National Taiwan University in Taipei, Jensen Huang said artificial intelligence (AI) is set to alter the corporate world.
“Agile companies will take advantage of AI and boost their position. Companies less so will perish,” said Huang, whose comments were reported by Bloomberg News. “While some worry that AI may take their jobs, someone who’s expert with AI will.”
His comments came days after Nvidia’s shares jumped 24% thanks to strong demand for the chipmakers’ technology for AI use. As PYMNTS reported, that demand is so robust that the company’s projected quarterly revenue is 50% higher than Wall Street expectations.
The company’s data center segment, including the AI chops, saw its revenues soar 14% yearly and 18% sequentially to about $4.3 billion.
During a call with analysts last week, Nvidia Chief Financial Officer Colette Kress said, “Generative AI is driving exponential growth in compute requirements. … Generative AI drove significant upside in demand for our products, creating opportunities and broad-based global growth across our markets.”
Kress also noted the company was seeing strong enterprise demand for AI and accelerated computing in areas such as automotive, financial services, healthcare and telecom.
“When we talk about our sequential growth that were expected between Q1 and Q2, our generative AI, large language models are driving this surge in demand,” Kress told analysts. “And it’s broad-based across both our consumer internet companies, our CSPs, our enterprises, and our AI startups.”
And even before Nvidia’s impressive showing Thursday, PYMNTS noted that it was the biggest player among hardware and especially the chip-focused providers, with its GPUs cited in research papers 90 times more often than the top AI chip startups put together.
Meanwhile, PYMNTS looked at the ubiquity of AI in the recent Generative AI Tracker, which contends the applications for the technology are as limitless as the human imagination and argues that generative AI can place the knowledge of just a few experts into the same room with every person who needs it.
“Decades ago, the internet promised to bring the world into every home and office,” the report said. “Generative AI promises to harness the deluge of information that lives in every search query and turn it into tangible, life-changing products that touch every corner of our lives.”
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