ChatGPT, the AI bot developed by OpenAI, celebrated its first anniversary last Thursday (Nov. 30). While AI development has spanned years, ChatGPT played a pivotal role in bringing AI into a more accessible language for everyone. Its launch spurred a race among companies diving into AI advancements, benefiting chip manufacturer Nvidia significantly.
Nvidia specializes in producing the necessary programs, chips, and software for AI-centric companies. Over the past year, its stock has surged by 175%, soaring from $170 a year ago on December 1 to $467 presently. ChatGPT has notably contributed to this remarkable spike in Nivida’s stock value.
Established in 1993, Nvidia marked its 30-year milestone and became the fifth company in the past year to reach a market capitalization of $10 billion, all due to the AI surge. Initially a gaming-oriented company, Nvidia evolved into a major player in AI development and is now considered the backbone of this industry.
The company’s journey began in the graphic processing unit (GPU) business. It transitioned into developing GPUs in the mid-1990s, meeting the rising demands of the Gaming market. Nvidia entered the AI realm in 2006 with the development of ‘CUDA,’ positioning itself as a frontrunner in the AI landscape. Presently, it commands a staggering 80% share of the GPU market, as reported by the BBC. Additionally, ChatGPT itself utilizes thousands of Nvidia chips, as highlighted by Reuters.
