By Stephen Nellis
(Reuters) – Nvidia Corp Chief Executive Jensen Huang is expected on Tuesday to disclose new artificial intelligence chips and technologies at the company’s annual conference for software developers.
Analysts will be watching for the Santa Clara, California-based company to give more details about how it plans to widen accessibility to processing power like to that used to develop fast-rising technologies such as the chatbot ChatGPT.
Last month, Huang told investors it would launch its own cloud computing service to offer more readily available access to large systems built with its chips.
At the Tuesday conference, he will discuss “what’s coming next” in AI, the company said on its website.
Nvidia has come to dominate the field for selling chips used to developing generative AI technologies, which can answer questions with human-like text or generate fresh images based on a text prompt.
Those new technologies rely on the use of thousands of Nvidia chips at once to train the AI systems on huge troves of data. Microsoft Corp, for example, built a system with more than 10,000 Nvidia chips for startup company OpenAI to use in developing the technologies that underpin its wildly popular ChatGPT.
While Nvidia faces competition in the AI chip market from Advanced Micro Devices and several startup companies, the company has more than 80% of the market for chips used in training AI systems.
The boom in AI has helped drive Nvidia shares up 77% this year, compared with a rise of 11.5% in the Nasdaq Composite Index. With a market capitalization of $640 billion, Nvidia has grown to become about five times more valuable than longtime rival Intel Corp.
(This story has been refiled to fix typo in paragraph 4)
(Reporting by Stephen Nellis in San Francisco; Editing by Bradley Perrett)