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A Proven Player: The Chatbot that Rocks

Understanding the rise of artificial intelligence and the dominance of NVIDIA

Headquarters in Santa Clara, California

NVIDIA Becomes World’s Most Valuable Company

You would not be alone if you asked yourself who, or what, is NVIDIA? How can this company triple its valuation in just a few months to reach these new heights? June 18, 2024 saw the Santa Clara-based company’s total market value rise to $3.334 trillion. It overtook Microsoft and Apple as the most valuable company in the S&P 500. This is remarkable as the computer chip maker does not market directly to the consumer like Microsoft or Apple. Instead, it has a stranglehold on the chips running computers in giant data centers. Nvidia controls some 80% of the market for the graphics processing units, or GPUs, used in AI systems.

More information NVIDIA’s market valuation in Ah! Channel here on YouTube

What does it matter to you?

NVIDIA’s rise is a sign of artificial intelligence’s staying power. You’ll recall how AI burst into the public’s consciousness in November of 2022. That’s when OpenAI released ChatGPT. But even still, only about one in four will admit to using artificial intelligence in some way. Widespread adoption appears to be a ways off. Nevertheless, NVIDIA’s rise is evidence that investors like what they see. AI and its personal assistants, its chatbots, are on the rise.

More than just a personal assistant

There had been a great deal of talk about how ChatGPT and its competitors that followed are much like a personal assistant, helping craft emails or letters of recommendation and processing large amounts of data in spreadsheets into easily digestible information. While those things are still true, the field is quickly spreading out to include a range of new ideas:

“Imagine a world where AI tutors adapt perfectly to your learning style, new drugs are discovered in record time, and job markets are created faster than ever before. Hidden within this whirlwind of progress are critical choices to be made about cost, data bias, and environmental impact.”

Nestor Maslej
Research Manager, Institute for Human-Centered Artificial Intelligence, Stanford

NVIDIA’s ascent to market dominance is among the fastest in history. You could argue this is proof of how AI is revolutionizing how people work and live, and also how companies develop. Consider that NVIDIA’s performance per dollar is said to be getting better with every generation of its GPUs. Need more proof? Consider how just a dozen companies have been on top of the S&P 500 in market valuation since its creation a hundred years ago. All of them became household names, including Walmart, General Motors, Exxon Mobile, General Electric and Apple.

Where to go from here

Are you still searching for your own “chatbot that rocks?” Leave a comment here or in the YouTube video accompanying this article or search the author’s name to get hooked up with the right people.

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