In an interview with Bloomberg TV, NVIDIA CEO Jensen Huang stated that countries racing towards creating their own AI systems will create even more demand for AI chips and hardware. 

India, Japan, France and Canada were among the countries named by Huang as interested in investing into “sovereign AI” capabilities. But Huang stated that AI’s impact would not end there. 

“The vast majority of the computing market has been in the US, and to a much smaller degree, China,” Huang stated. “For the very first time, because of generative AI computer technology, it’s going to impact literally every single country. So, some of the markets will be quite large and global.” 

Huang also warned that the nature of AI required countries to create a large computing infrastructure to use the technology efficiently. 

“Data should be refined and produced for their country,” stated Huang, referencing the large quantities of data that is needed to train generative AI tools such as large language models.  

By 2030, research and analysis company GlobalData has forecast that the global AI market will be worth over $909bn with generative AI expected to be the most profitable segment of the technology. 

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By GlobalData

Whilst Nvidia has been a long-time leader in chip technology, GlobalData recently warned that its position may wane in the coming year. 

Microsoft, Google and Nvidia’s rival AMD have all announced new AI hardware projects to keep up with bolstering demand. AMD’s recent launch of its Antares Instinct MI300X and MI300A GPU accelerators is particularly notable since AMD claimed the GPU accelerators have over 150 billion transistors. This is 2.4 times the memory of Nvidia’s H100. 

Rising competition in AI chips alongside Nvidia’s customers becoming more self-reliant will create difficulties for the company to retain its leading position. 

In a 2023 GlobalData survey, over 70% of respondents named AI as the most disruptive technology to their industry, with 54% of respondents stating that the technology was already disrupting their day-to-day business.