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How Nvidia Pivoted From Graphics Card Maker to AI Chip Giant

July 25, 2024
in NFT
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A decade in the past, Nvidia was a serious graphics card maker, vying with rivals like AMD and Intel for dominance. Now it is an AI large with 70% to 95% of the market share for AI chips, and the brains of OpenAI’s ChatGPT. It is also the best-performing inventory with the very best return previously 25 years.

Why did Nvidia spend money on AI chips over 10 years in the past, forward of the competitors? CEO Jensen Huang and board member Mark Stevens, Nvidia’s two largest particular person shareholders, talked to Sequoia Capital associate Roelof Botha to elucidate what Botha referred to as “one of the exceptional enterprise pivots in historical past.”

Nvidia’s authentic product was 3D graphics playing cards for PC video games, however firm leaders observed by the mid-2000s that the PC market was hitting a development restrict.

Associated: Nvidia CEO Jensen Huang Turned Down a Merger Supply within the Firm’s Early Days, In response to Insiders. This is Why.

“We felt we had been all the time gonna be boxed into the PC gaming market and all the time knocking heads with Intel if we did not develop a model new market that no one else was in,” Stevens defined.

Jensen Huang, co-founder and chief government officer of Nvidia. Photographer: Lionel Ng/Bloomberg by way of Getty Photographs

That want for a brand new market intersected with a product Nvidia already had readily available: its graphics processor unit, or GPU, which may very well be used to energy duties outdoors of gaming. Researchers at universities internationally started exploring the graphics playing cards, ultimately constructing superior computer systems with them.

Associated: Is It Too Late to Purchase Nvidia? Former Morgan Stanley Strategist Says ‘Purchase Excessive, Promote Larger.’

Huang recalled assembly a quantum chemist in Taiwan who confirmed him a closet with a “large array” of Nvidia’s GPUs on its cabinets; home followers had been rotating to maintain the system cool.

“He stated, ‘I constructed my very own private supercomputer.’ And he stated to me that due to our work… he is in a position to do his work in his lifetime,” Huang stated.

Different researchers, like Meta AI chief Yann LeCun in New York, started reaching out to Nvidia in regards to the computing energy of its chips. Nvidia started contemplating the AI market when AI had but to enter the mainstream and was a “zero billion greenback market” or a market that had but to materialize.

“There was no assure that AI would ever actually emerge as a result of, take note, AI had had many stops and begins during the last 40 years,” Stevens stated. “I imply, AI has been round as a pc science idea for many years. However it had by no means actually taken off as an enormous market alternative.”

Associated: Nvidia Is ‘Slowly Changing into the IBM of the AI Period,’ In response to the Chief of a $2 Billion AI Startup

Huang and different firm leaders nonetheless believed in AI and determined to take a position billions within the tech within the 2010s.

“This was a large pivot for our firm,” Huang stated. “The corporate’s focus was steered away from its core enterprise.”

Huang highlighted the additional price, expertise, and abilities Nvidia needed to account for with the pivot, because it affected your complete firm. It took 10 to fifteen years of effort, however that enterprise determination led to Nvidia powering the AI revolution with an early ChatGPT partnership.

“Each CEO’s job is meant to go searching corners,” Huang stated. “You wish to be the one who believes the corporate can obtain greater than the corporate believes it may possibly.”

Associated: Tips on how to Be a Billionaire By 25, In response to a School Dropout Turned CEO Price $1.6 Billion



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Tags: CardChipGiantGraphicsMakerNVIDIAPivoted
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