Benzinga - by Chris Katje, Benzinga Staff Writer.
Technology giant NVIDIA Corporation (NASDAQ:NVDA) kicked off its multi-day, highly anticipated GTC 2024 event, which will cover transformative moments and advancements in artificial intelligence.
Here is what Nvidia CEO Jensen Huang had to say about AI during a keynote event Monday.
What Happened: Describing GTC as the best conference for developers from diverse sectors to network, Huang initiated the event by emphasizing his focus on mathematics, science, algorithms, and computers, humorously clarifying that it was “not a concert.”
"This conference is represented by some amazing companies," Huang said.
The Nvidia CEO said he was proud that there were tons of non-IT industries represented at GTC 2024. The CEO said $100 trillion of the world's industries were being represented in the room.
"There is absolutely something happening, something going on. The industry is being transformed."
Huang called the computer the single most important instrument today, as it affects every industry.
While Huang and Nvidia saw technology advancements coming, the CEO said ChatGPT helped capture the imagination of consumers and the capabilities of AI. In 2023, generative AI emerged, and a new industry began, Huang added.
"The software never existed before."
Huang highlighted the emergence of a new category, explaining that market share was carved out from scratch, leading to the creation of innovative entities such as AI factories.
"A new industry has emerged."
Related Link: Nvidia Q4 Earnings Highlights: Revenue Beat, EPS Beat, Q1 Guidance And More
What's Next: Huang showed off a video that featured examples of how companies are using artificial intelligence and Nvidia products to grow.
"I love Nvidia," Huang said. "Accelerated computing is here."
The Nvidia CEO said general purpose computing has run out of steam and accelerated computing is the future.
"The impact is dramatic."
Huang announced that Ansys (NASDAQ:ANSS), Synopsys (NASDAQ:SNPS) and Cadence Design System (NASDAQ:CDNS) are Nvidia partners working "to bring the world into accelerated computing" with the building of a super computer.
The Nvidia CEO said the company recognized that bigger GPUs are needed to help with the growth of artificial intelligence.
Huang then introduced the world to the highly anticipated Blackwell, which he called a "massive leap."
A video highlighted Blackwell calling it "the engine of the new industrial revolution." The video said that Blackwell would help scale generative AI.
"Blackwell is not a chip, it's the name of a platform," Huang said.
Huang highlighted the capabilities of Blackwell and how the new product will help power generative AI.
"This is a miracle."
In eight years, Nvidia has increased the AI compute 1,000x, Huang said.
He proceeded to showcase the NVLink Switch Chip in a presentation slide, a technology that could advance AI even further in the future.
NVDA Price Action: Nvidia shares finished 0.7% higher at $884.55 on Monday, versus a 52-week trading range of $233.60 to $974.00.
Read Next: Nvidia Is Still ‘Stepping On The AI Accelerator’: 7 Analysts Size Up Q4 Results, Supply And Demand Dynamics
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