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How the Rise in AI Technology Made Nvidia The Most Valuable Company in 2024

2024/07/24 18:03

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In the rise and clash of tech titans, 2024 has been a year full of surprises. Most people would think of Google, Microsoft, Amazon and Apple as tech giants. A more recent popular contender might be ChatGPT, which has taken over many aspects of ordinary life, from school to work. Yet, a dark horse rose in the struggles and took everyone by surprise when Nvidia emerged with a valuation of over $3 trillion, giving Microsoft a run for its money.

With AI technology proving more competent and efficient in the office, it is unsurprising how many companies are looking to replace human costs with trained AI solutions. The arms race for building better AI bots, including art generation, data analytics, academic writing and customer service, boosted Nvidia's sales from $1 trillion in 2023 to $3 trillion in 2024.

In the bid to become the best AI developer, Microsoft, Meta, and Google are investing more in their development teams and hardware to cope with the tremendous amount of data required to train a model more efficiently than ChatGPT, which is currently in the lead of this AI arms race.

To curb the rising cost of operation, the demand for better AI bots will only increase. Without anyone else to match Nvidia's chips required for AI development, their sales figures will continue to surge. It would only be a matter of time before Nvidia becomes an irreplaceable figure in the world of artificial intelligence.

ChatGPT

Nvidia

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