Get ready for Jensen Huang’s keynote speech at the Computex 2023 event in Taiwan this weekend! Huang is already riding high on the resurgence in AI demand, thanks to the popularity of generative AI like OpenAI’s ChatGPT.
On Wednesday, Huang reported earnings that beat Wall Street’s expectations for revenues, fueling a broad tech rally on Wall Street. Nvidia’s stock price rose 27% in the past couple of days, reaching $389.25 today, with a market cap of $963 billion, closing in on $1 trillion.
Thanks to strength in chips for the data center, Nvidia reported revenues of $7.19 billion for the first fiscal quarter ended April 30, above expectations. Data center revenue in the first fiscal quarter was a record $4.28 billion, up 14% from a year ago and up 18% from the previous quarter.
In an exclusive interview with Jensen Huang, CEO of NVIDIA, he sheds light on the future of AI and how his company is leading the charge for the rapid expansion of generative AI. Generative AI is a type of AI that has the ability to learn through experience and produce original ideas, something we are just beginning to explore.
When asked about what led to the rapid rise of generative AI, Huang pointed to two critical components. Firstly, he cited vast improvements in computing power and the abundance of datasets. Secondly, he attributed the momentum to breakthroughs in deep learning and natural language processing. He emphasized that deep learning techniques like convolutional neural networks enabled us to unlock greater accuracy and complexity when processing images and language.
Huang also noted that there are a number of applications for generative AI in a variety of industries: medical, finance, cybersecurity, automotive, aerospace, and marketing, among many others. Generative AI enables us to generate highly detailed and accurate models of our environment, allowing us to simulate real-world scenarios with greater accuracy and produce more creative content faster.
Speaking about the role of generative AI in the future of AI, Huang said, “Generative AI is going to increasingly empower us with new ways to use data and information, making us more productive. It’s going to provide us with powerful new ways to create intelligent systems.”
Overall, it’s clear that the rapid expansion of generative AI is an area where NVIDIA is well positioned to lead the way into a new AI-driven future. With Huang at the helm, it looks like NVIDIA will be one of the key players in driving the future of generative AI.
