Nvidia is pursuing the market of specialized artificial intelligence chips, as it announced the establishment of a new business unit focusing on designing chips tailored for cloud computing companies and others.
These chips include advanced artificial intelligence processors, as reported by Reuters.
Nvidia aims to capture a portion of the specialized artificial intelligence chip market and protect itself from increasing competition from companies seeking alternatives to its products.
Nvidia currently dominates around 80 percent of the market for advanced artificial intelligence chips. This situation has led to a 40 percent increase in its market value so far this year, reaching $1.73 trillion after more than tripling in 2023.
Nvidia’s customers are racing to take advantage of the limited supply of its chips, to face competition in the rapidly growing industrial artificial intelligence sector. Competing companies in this sector include OpenAI, Microsoft, Alphabet, and Meta.
