Nvidia Stock: ChatGPT Is Just The Start For Artificial Intelligence

Chipmaker Nvidia (NVDA) on Tuesday announced a host of initiatives designed to broaden its reach in artificial intelligence and take advantage of what the company calls AI’s “iPhone moment.” But Nvidia stock dipped in midday trades.

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Nvidia’s reach in artificial intelligence technology already spans graphics processing units, high-performance computing systems, software and cloud computing services. And Nvidia stock has been on a tear this year thanks to investor excitement over AI.

The company on Tuesday revealed several partnerships and new products, demonstrating how its technology can advance artificial intelligence in myriad industries. Nvidia says ChatGPT, the AI program that’s created a firestorm of interest, is just the start. Nvidia issued about two dozen press releases and blog posts at its GTC 2023 conference outlining its AI plans.

In a keynote presentation at the conference, Chief Executive Jensen Huang said artificial intelligence is at an inflection point.

“We are at the iPhone moment of AI,” Huang said.

At GTC, Huang announced partnerships with Alphabet‘s (GOOGL) Google, Microsoft (MSFT), Oracle (ORCL) and others. The alliances aim to bring AI, simulation and collaboration capabilities to every industry, he said.

Nvidia Stock A Top Performer This Year

“The impressive capabilities of generative AI have created a sense of urgency for companies to re-imagine their products and business models,” Huang said.

In midday trades on the stock market today, Nvidia stock slipped 0.8% to 256.96. Year to date, through Monday’s close, Nvidia stock was up 77.2%, vs. a 2.9% gain for the S&P 500 index.

At the company’s GTC conference, Nvidia announced new computer hardware and software libraries to enable AI breakthroughs.

Nvidia also said it will offer its DGX AI supercomputer platform as a service through cloud-computing partners. The DGX Cloud service will run first on Oracle Cloud. Microsoft Azure, Google Cloud and others will follow soon, Huang said.

DGX Cloud will give enterprises immediate access to the infrastructure and software needed to train…

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