From Nasdaq: 2024-03-30 09:00:00

Nvidia’s (NASDAQ: NVDA) stock has surged 2,000% in the last five years, making it the world’s third-most-valuable company. Revenue grew 126% in fiscal 2024, driven by strong sales of data center GPUs for AI tasks. Analysts project a 37% CAGR from fiscal 2024 to fiscal 2027 as the AI market expands.

Major tech companies have formed the UXL Foundation to challenge Nvidia’s dominance with an open-source alternative to its CUDA platform. While the alliance aims to provide more options for developers, Nvidia’s market stronghold and powerful GPUs may limit the impact in the near term.

The UXL Foundation plans to release an alternative programming platform to Nvidia’s CUDA in the second half of the year. Despite the potential competition, Nvidia’s leading position in the GPU market and its powerful data center GPUs may prevent substantial market share shifts in the short term.

The UXL Foundation’s efforts to challenge Nvidia’s dominance in the GPU market may face hurdles in gaining momentum. With the absence of key players like AMD and Microsoft from the alliance, as well as Nvidia’s continued market leadership, significant impacts on Nvidia’s growth may not materialize in the near future.



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