Nvidia dominates the market for GPUs used in machine learning, influencing US market significantly

From Forbes: 2024-06-27 05:05:46

Nvidia dominates the market for GPUs used in machine learning, with estimates suggesting they hold 95% of the market share. Their new GPUs and tools help speed up the machine learning lifecycle, improving AI development and deployment processes.

Nvidia has been named in the ‘Magnificent Seven’ of US companies, alongside giants like Apple, Microsoft, and Amazon. These top stocks have significantly influenced the US market, prompting a special rebalancing of the Nasdaq 100 index due to their outsized impact.

Analysts point to AI applications like ChatGPT as a driving force behind Nvidia’s success, contributing to their soaring share prices. Collaborations with companies like Microsoft to develop supercomputing infrastructure have been crucial in training AI models on thousands of Nvidia GPUs.



Read more at Forbes: What is Nvidia? – Forbes Advisor Australia