American hardware maker Nvidia has been riding the AI hype ever since ChatGPT became popular. The company made a massive fortune this year selling GPUs powering generative AI models and now the company expects the AI industry to cross the $600 billion mark.
This prediction comes from Nvidia’s Head of Enterprise Computing Manuvir Das who shared the company’s forecast for the AI industry while speaking at the Goldman Sachs Communacopia and Tech Conference. He expects to see “exponential growth” for Nvidia thanks to immense demand coming from the race of generative AI between all the tech giants.
Das predicts that the chip segment within the AI industry could be valued at up to $300 billion in the future while the GenAI and omniverse enterprise applications may add another $300 billion on top of that.
He added that despite the AI industry seeing a massive boom lately, there is still a lot more to come in the future.
The figures predicted by Nvidia are not far-fetched by any means considering the prevailing industry trends that signal significant growth in the coming years. An illustrative case in point is the substantial revenue surge witnessed in Nvidia’s data center division during FY23, propelling the company toward a valuation of one trillion dollars.
Needless to say, this is not something that will happen overnight, but it is reasonable to speculate that the projections outlined by Nvidia may unfold over a decade, given that the industry has yet to reach its pinnacle.
Source: Pro Pakistani