Tag: Nvidia Corp

Nvidia becomes Tesla’s successor as market flips from EV to AI
4Mar By adminNo Comments
Technology

Nvidia becomes Tesla’s successor as market flips from EV to AI

[ad_1] Nvidia Corp.'s rise is captivating the stock market and driving the S&P 500 Index to new highs. But it also raises cautionary reminders of another investor darling that soared on dreams of a technological transformation, only to tumble back to earth when those hopes turned to disappointment. That stock belongs to Tesla Inc., which sparked its own mania in 2017 as investors bet that electric vehicles were going to take over the world. Back then, Elon Musk's company was a phenomenon as it blew past established carmakers like General Motors Co. and Ford Motor Co. in market capitalization to become America's biggest auto manufacturer. Some analysts were looking beyond the industry and calling it “the next Apple Inc.” Now, Tesla shares are down more than 50% from their 2021 peak, ...
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Nearly All Wealth Gained By World’s Rich This Year Comes From AI
15Feb By adminNo Comments
Technology

Nearly All Wealth Gained By World’s Rich This Year Comes From AI

[ad_1]  Nvidia Corp. co-founder Jensen Huang's wealth has surged as a blistering rally in AI-related stocks pushed the chipmaker's market value above Amazon.com Inc.'s for the first time.  The same rally has minted another billionaire in Huang's own family: his distant cousin Lisa Su, chief executive officer of Nvidia competitor Advanced Micro Devices Inc., who's worth $1.2 billion after the stock doubled over the past year. Two chipmaker billionaires in one family illustrates the scope of the artificial intelligence craze, which has come to dominate the stock market and accounts for most of the wealth gained by the world's richest people this year.  Among the 500 wealthiest individuals, 30 attribute at least some of their fortune to companies that are tracked by the Bloomberg Global Ar...
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Nvidia CEO says tech advances will keep AI cost in check
12Feb By adminNo Comments
Technology

Nvidia CEO says tech advances will keep AI cost in check

[ad_1] Nvidia Corp. Chief Executive Officer Jensen Huang anticipates advances in computing over the next few years will keep the cost of developing artificial intelligence well below the $7 trillion that Sam Altman is said to be fundraising.“You can't assume just that you will buy more computers. You have to also assume that the computers are going to become faster and therefore the total amount that you need is not as much,” Huang told the World Government Summit in Dubai on Monday. The 60-year-old's company makes the most sought-after AI accelerators and he's confident the chip industry will drive down the cost of AI, as those parts are made “faster and faster and faster.” Huang was responding to a report in the Wall Street Journal that OpenAI CEO Sam Altman is seeking to raise $7 tri...
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In big AI drive, Elon Musk plans to buy AMD chips for Tesla
27Jan By adminNo Comments
Technology

In big AI drive, Elon Musk plans to buy AMD chips for Tesla

[ad_1] Tesla Inc. Chief Executive Officer Elon Musk said he plans to buy chips from Advanced Micro Devices Inc. as part of a spending spree on computing hardware to handle artificial intelligence.After saying on his X social media platform that Tesla will spend more than $500 million on Nvidia Corp. hardware this year, Musk was asked if he would also buy chips from AMD. “Yes,” the billionaire replied.  Nvidia is the current leader in so-called AI accelerators — processors suited to the data-intensive requirements of the technology — but rivals like AMD are pushing into the market. AMD unveiled a lineup called the MI300 last month that it said will be able to run AI software faster than competitors can. AMD shares briefly climbed more than 1% after-hours Friday following the remarks. The...
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Apple rises as BofA upgrades on potential from AI, headset
19Jan By adminNo Comments
Technology

Apple rises as BofA upgrades on potential from AI, headset

[ad_1] Apple Inc. shares rose on Thursday, after Bank of America upgraded the iPhone maker to buy from neutral, a sign of confidence in the stock following a weak start to the year.The stock gained 3.3%, its biggest one-day percentage gain since May. It remains down 2% this year, making it one of the weakest performers among the so-called Magnificent 7 megacaps that fueled market gains in 2023. Artificial intelligence will be a driver for the company's hardware and services business, according to BofA analyst Wamsi Mohan, who wrote that he sees a “stronger multi-year iPhone upgrade cycle driven by need for the latest hardware to enable Generative AI features to be introduced in 2024/2025.” Mohan also thinks the upcoming launch of Apple's virtual reality headset has potential, writing th...
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Beyond The Likes of Nvidia Corp and AMD, Chip Market Troubles Pose Threats After AI Euphoria
11Dec By adminNo Comments
Technology

Beyond The Likes of Nvidia Corp and AMD, Chip Market Troubles Pose Threats After AI Euphoria

[ad_1] This year's AI stock frenzy has papered over cracks in the semiconductor market. Beyond the enthusiasm for the likes of Nvidia Corp. and Advanced Micro Devices Inc., it's a mixed picture for investors.  Recent earnings pointed to slumping industrial and networking chip markets, while some on Wall Street are bracing for the impact of a potential economic slowdown on automobile chips. On the flip-side, smartphone components and personal computers look set for recovery, according to Samsung Electronics Co. and Intel Corp. “It's important to avoid painting semis with a broad sector brush,” said Brent Fredberg, portfolio manager at Brandes Investment Partners. “The concern is that the industry may now be entering a period of excess inventory digestion.”  Broadcom Inc., which has gai...
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Nvidia upgrades processor as rivals challenge its AI dominance
13Nov By adminNo Comments
Technology

Nvidia upgrades processor as rivals challenge its AI dominance

[ad_1] Nvidia Corp., the world's most valuable chipmaker, is updating its H100 artificial intelligence processor, adding more capabilities to a product that has fueled its dominance in the AI computing market.The new model, called the H200, will get the ability to use high-bandwidth memory, or HBM3e, allowing it to better cope with the large data sets needed for developing and implementing AI, Nvidia said Monday. Amazon.com Inc.'s AWS, Alphabet Inc.'s Google Cloud and Oracle Corp.'s Cloud Infrastructure have all committed to using the new chip starting next year. The current version of the Nvidia processor — known as an AI accelerator — is already in famously high demand. It's a prized commodity among technology heavyweights like Larry Ellison and Elon Musk, who boast about their abilit...
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Samsung sees memory recovery next year after profit beat
31Oct By adminNo Comments
Technology

Samsung sees memory recovery next year after profit beat

[ad_1] Samsung Electronics Co. beat profit expectations in the third quarter and predicted a recovery in the semiconductor market next year. The world's largest maker of memory chips and smartphones said on Tuesday that net income fell 40% to 5.5 trillion won ($4.1 billion) in the September quarter, compared with analyst estimates of 2.52 trillion won, according to data compiled by Bloomberg. That's an improvement from the 86% decline a quarter earlier.  Samsung's pivotal chip division posted a 3.75 trillion won operating loss, compared with a 4.4 trillion won loss in the previous quarter. Three analysts polled by Bloomberg had estimated a loss of between 3.6 trillion won and 3.8 trillion won. The company's mobile panel business also had a “significant increase” in earnings with the fla...
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Google to add AI models from Meta, Anthropic to its cloud platform
31Aug By adminNo Comments
Technology

Google to add AI models from Meta, Anthropic to its cloud platform

[ad_1] Alphabet Inc.'s Google is adding artificial intelligence tools from companies including Meta Platforms Inc. and Anthropic to its cloud platform, weaving more generative AI into its products and positioning itself as a one-stop shop for cloud customers seeking to tap into the technology.Google's cloud clients will be able to access Meta's Llama 2 large language model, as well as AI startup Anthropic's Claude 2 chatbot, to customize with enterprise data for their own apps and services. The move announced Tuesday at Google's Next '23 event in San Francisco, is part of the company's effort to position its platform as one where customers have the freedom to choose an AI model that best meets their needs, whether from the company itself or one of its partners. More than 100 powerful AI...
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