2024-06-26 05:07:00 ET
Artificial intelligence (AI) is already reshaping the corporate world. Chatbot applications like OpenAI's ChatGPT can instantly craft text, images, videos, and computer code on command, which could drive a productivity boom worth trillions of dollars across the global economy.
Developing those AI applications wouldn't be possible without the data center graphics processing units (GPUs) designed by Nvidia (NASDAQ: NVDA) . They contributed to an astronomical 427% increase in Nvidia's data center revenue in the recent quarter, pushing sales to a record $22.6 billion.
That growth is the reason Nvidia's valuation recently topped $3.2 trillion, making it one of the largest companies in the world.
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Prediction: 3 Unstoppable Artificial Intelligence (AI) Stocks Will Be Bigger Than Nvidia in 2030