HONG KONG – Businesses and individuals need to get used to artificial intelligence (AI) or risk losing out, according to Nvidia co-founder and CEO Jensen Huang.
Huang, whose share price in the chip design firm hit an all-time high on Friday, boosted by huge demand from AI service providers, said in Saturday’s commencement address that new technologies are upending the corporate landscape and making every job easier. said it would change
“Agile enterprises will use AI to rise in position, and then enterprises will perish,” the CEO told graduates of National Taiwan University in Taipei. “Some people worry that AI will take their jobs. AI experts will.”
Infiltrated into the public consciousness by OpenAI’s ChatGPT in late 2022, the technology will be used as a co-pilot to significantly improve the performance of workers across a wide range of industries, while also creating new jobs that never existed before. , will make other jobs obsolete, Huang said. He said.
Nvidia’s processors are the gold standard for training AI models, such as the AI models powering ChatGPT. The California-based company has become a major beneficiary of the competition to provide OpenAI technology to competitors.
The world’s most valuable chip makers last week posted sales of around US$11 billion (SGD15 billion) in the three months to June as demand for the chips they produce for AI applications soared. It announced that it exceeded the list forecast by about 53%. Susquehanna Financial Group said it could be the “greatest beat of all time.”
Shares surged 24% on Thursday following the announcement, adding $184 billion to the company’s valuation. It was the third-largest one-day gain in U.S. market capitalization ever.
Nvidia rose another 2.5% on Friday to a valuation of US$963.2 billion. To put this in context, Intel, which has long been the world’s largest chip maker, is valued at US$114 billion. So Nvidia is now over eight times bigger.
Unlike other prominent figures in the global AI ecosystem, including Alphabet’s Sundar Pichai, Baidu’s Robin Li and OpenAI’s Sam Altman, Huang did not offer any warnings.
Huang told students to come up with something new in the age of AI fast, or risk being left behind.
“In 40 years, we have created the era of PC, internet, mobile, cloud and now AI. Don’t run,” he said. “Either you’re running for food, or you’re running away from being food.” Bloomberg
