Sign up to save tools and stay up to date with the latest in AI
bg
bg
1

AI is having a 1995 moment, analyst says

Feb 23, 2024 - businessinsider.com
Artificial intelligence (AI) is experiencing a boom similar to the commercialization of the internet in the mid-90s, with Nvidia leading the charge, according to tech analyst Dan Ives from Wedbush Securities. Ives refers to this as a "1995 moment", predicting a $1 trillion increase in spending over the next decade in the tech sector, driven by AI. Nvidia's highly sought-after graphic processing units (GPUs) are powering AI models for major tech companies, with Ives stating that the demand for Nvidia's AI chips from leading software providers like Salesforce, Adobe, and Oracle is a "transformational tech trend".

Despite the boom, Ives does not believe this will lead to a stock market crash similar to the late 90s tech rout, stating that current tech stocks are "nowhere near the 1999/2000 period". Nvidia's fourth-quarter earnings, which beat estimates with a revenue of $22.1 billion, reflect the ongoing AI boom. Nvidia's CEO, Jensen Huang, predicts that "every enterprise in the world" will eventually run on Nvidia's GPUs, indicating that the AI revolution is just getting started.

Key takeaways:

  • Artificial Intelligence (AI) is experiencing a boom similar to the commercialization of the internet in the mid-90s, according to tech analyst Dan Ives.
  • Nvidia is leading this AI revolution with its highly sought-after graphic processing units (GPUs) that power AI models.
  • Major tech companies like Salesforce, Adobe, and Oracle are showing a strong demand for Nvidia's AI chips, a trend not seen since the start of the internet.
  • Nvidia's CEO, Jensen Huang, predicts that every enterprise in the world will one day run on Nvidia's GPUs, indicating a significant business growth over time.
View Full Article

Comments (0)

Be the first to comment!