Posted 4/13/2024, 7:05:00 AM
Nvidia Stock Dips on AI Competition Concerns Despite Expected Dominance with New Blackwell Chips
- Nvidia stock is down 11% from recent record highs due to concerns that growth is slowing and competition is increasing in the AI chip market
- Intel launched a new AI chip, Gaudi 3, that aims to compete with Nvidia's offerings on performance, cost, and efficiency
- However, Nvidia is set to release a new generation of GPUs, Blackwell, that could be 4x faster for AI training and 30x faster for inferencing than current chips
- Major cloud providers plan to adopt Nvidia's new Blackwell chips, signaling continued dominance in AI
- Nvidia expects data center revenue to double in 2024 to $95B, suggesting the company will likely maintain leadership in the fast-growing AI chip space