Monday, January 30, 2023
HomeDigit NewsChatGPT could be Nvidia's "replacement" for the cryptocurrency boom

ChatGPT could be Nvidia’s “replacement” for the cryptocurrency boom

It seems that another hype around the chatbot ChatGPT and, as a result, around AI in general, can play into the hands of Nvidia and become for it about the same as the cryptocurrency boom was a couple of years ago.

Bloomberg journalists attribute the recent growth in Nvidia shares to the growing popularity of ChatGPT and predict that the situation for Nvidia will develop in the best possible way. The fact is that Nvidia dominates the market for graphics and specialized accelerators for supercomputers and systems related to artificial intelligence.

The more people using ChatGPT, the more processing power OpenAI will need. In addition, other companies will obviously try to enter this market in the near future, which means that even more appropriate hardware solutions will be needed. Recall that Microsoft announced an investment in OpenAI in the amount of 10 billion dollars.

Citigroup has calculated that the rapid growth in ChatGPT usage could see Nvidia sell between $3 billion and $11 billion over the next year.

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Nvidia stock is up 9% in the last five days alone, and over 36% in a month!

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