Nvidia’s AI Revolution Sparks Unstoppable Demand, Jensen Huang Says

Nvidia’s artificial intelligence (AI) chips are seeing unprecedented demand, according to CEO Jensen Huang, who characterized the surge as overwhelming during a recent televised appearance.

Huang’s remarks came during an interview, where he discussed Nvidia’s extended collaboration with IT consulting giant Accenture. The two companies announced a joint effort to enable businesses to harness AI technologies more effectively.

Nvidia’s stock, which finished Wednesday up by 1.6%, has experienced a meteoric rise, more than doubling in value this year, as enterprises scramble to secure its cutting-edge AI hardware to enhance their infrastructures. Accenture, whose shares rose 1.2% the same day, has posted a 1.5% gain so far in 2024.

The new agreement will see Accenture establish a specialized business unit, equipping consultants with the expertise to develop AI solutions tailored to clients’ needs using Nvidia’s technology and Meta’s open-source Llama AI models.

Huang emphasized the partnership’s vast potential, suggesting it would position the companies to address global AI demand, which he described as the dawn of a new era for enterprise AI.

Industry analyst Dan Ives of Wedbush drew parallels between Nvidia’s growing network of strategic partners and the ecosystems built by tech powerhouses like Microsoft and Oracle, predicting it could solidify Nvidia’s dominance in the sector.

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