ChatGPT Fever Sends Nvidia Shares Soaring

ChatGPT Fever Sends Nvidia Shares Soaring

American tech giant Nvidia has seen its earnings fly through the roof as investors are impressed with the company’s vision for an AI-enabled future.

Following the release of the company’s fourth quarter and financial year 2023 results, its share price jumped by a staggering 14 per cent in the space of a day.

This is despite its fiscal year revenue remaining flat at US$27 billion (almost AU$40 billion) and its fourth-quarter revenue being down 21 per cent compared to Q4 last year.

“AI is at an inflection point. OpenAI’s ChatGPT has captured interest worldwide, allowing people to experience AI firsthand, showing what’s possible with generative AI,” said Jensen Huang, the company’s founder and CEO.

“From startups to major enterprises, we are seeing accelerated interest in the versatility and capabilities of generative AI.

“We are set to help customers take advantage of breakthroughs in generative AI and large language models. Our new AI supercomputer, with H100 and its Transformer Engine and Quantum-2 networking fabric, is in full production.

“Gaming is recovering from the post-pandemic downturn, with gamers enthusiastically embracing the new Ada architecture GPUs with AI neural rendering,” he said.

The company has a range of AI tools and plans to offer “AI-as-a-service” to enterprise businesses via the cloud. Customers will be able to engage each layer of NVIDIA AI – the AI supercomputer, acceleration libraries software or pre-trained generative AI models – as a cloud service.

There is still some consternation about AI. Big think, for example, said that ChatGPT answered physics questions like “a confused C student.” Bloomberg, meanwhile, reported that a professor at the University of Pennsylvania’s Wharton School said that ChatGPT would have received a B- on an exam in his operations management course.

Here at B&T, we have been playing around with ChatGPT to discover whether it will take our jobs. As it stands, we’re not emptying the drawers under our desks and decanting our belongings into adland-branded tote bags.

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