Nvidia Leads Generative AI Chip Market Fueled by ChatGPT Growth
- U.S. tech giants like Nvidia dominate generative AI chip and cloud service markets with 70-90% market share
- Nvidia's graphics processing units are a crucial foundation for generative AI models
- Growth sparked by release of ChatGPT chatbot in 2022
- Statista forecasts global generative AI market to grow 20% annually
- Expected to reach $207 billion market size by 2030