Nvidia’s (NASDAQ:NVDA) highly anticipated annual developer conference kicked off on Monday, drawing attention from investors eager for Chief Executive Jensen Huang’s keynote address, which is expected to unveil new chip advancements. The focus of the event, known as GTC 2024, revolves around Nvidia’s pivotal role in the artificial intelligence (AI) semiconductor industry and its ability to maintain leadership amidst intensifying competition.
Nvidia’s Dominance in the AI Chip Market
With Nvidia reigning as a powerhouse in AI semiconductors, capturing approximately 80% of the data center AI chip market last year, investors are keen to witness the company’s latest innovations. However, projections suggest a slight decline in market share for Nvidia in 2024, attributed to the entry of new products from competitors like Intel and Advanced Micro Devices (NASDAQ:AMD).
Anticipated Chip Announcements
In his keynote address, Huang is expected to introduce Nvidia’s next-generation AI processors, notably the B100 chip, poised to deliver significant improvements over its predecessor, the H100. These advancements are crucial for Nvidia to maintain its edge in the fiercely competitive AI chip landscape.
Expanding Software Offerings
While Nvidia is renowned for its chip design prowess, the company has also cultivated a robust portfolio of software products. Huang is anticipated to unveil a range of new software-related products during the conference, underscoring Nvidia’s multifaceted approach to AI technology.
GTC 2024: A Return to In-Person Engagement
Marking a significant milestone, Nvidia is hosting GTC in person for the first time since 2019, reflecting the gradual return to pre-pandemic norms. The event is expected to attract approximately 16,000 attendees, double the attendance of the last in-person gathering, signaling growing enthusiasm within the industry.
Keynote Address and Venue
Huang’s keynote address is scheduled to take place at a Silicon Valley hockey arena at 1:00 p.m. (2000 GMT), signaling the magnitude of the event. It is the largest venue Nvidia has secured for such an occasion, further emphasizing the significance of the announcements expected to be made.
In summary, Nvidia’s AI developer conference serves as a platform to unveil cutting-edge innovations in AI chips and software, with investors eagerly awaiting updates on new chip releases and technological advancements that will shape the future of the AI industry.
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