Chip designer Nvidia closed Tuesday with a trillion-dollar market value for the first time, part of a steady climb in the stock's price in recent months on the back of the artificial intelligence boom.
Here's an explainer on Nvidia and its role in powering the radical new technology.
How big is Nvidia in terms of market value?
Nvidia's $1 trillion valuation makes it the fifth most valuable US company behind Apple, Microsoft, Alphabet and Amazon. Two other companies, Tesla and Meta Platforms, have in the past eclipsed the $1 trillion level, but are currently worth less than that.
From gaming to AI: Nvidia's focus shift
Nvidia, known for its chips used in video games, has pivoted to the data centre market over the past few years.
The company's business rapidly expanded during the pandemic when gaming took off, cloud adoption surged and crypto enthusiasts turned to its chips for mining coins.
The data centre chip business accounted for more than 50 per cent of the company's revenue in the financial year ended January 29.
Why is generative AI a hot topic?
Viral chatbot ChatGPT has made generative AI a buzzword this year. The technology uses vast troves of pre-existing data to create new content, from poems to images and even computer code.
Microsoft Corp and Alphabet-owned Google, two of the biggest players in the space, believe that generative AI can change how work is done. The two have raced to add the technology to their search engines and productivity software as they seek to dominate the industry.
More recently, chipmaker Advanced Micro Devices released details on its new AI chip to try to challenge Nvidia's market share.
Goldman Sachs analysts estimate that US investment in AI could approach 1 per cent of the country's economic output by 2030.
What is Nvidia's role in the AI boom?
The large computers that process data and power generative AI run on powerful chips called graphics processing units.
Nvidia controls about 80 per cent of the GPU market, according to analysts.
GPUs are designed to handle the specific kind of maths involved in AI computing very efficiently. By contrast, generic central processing units from companies such as Intel handle a broader range of computing tasks with less efficiency.
OpenAI's ChatGPT, for example, was created with thousands of Nvidia GPUs. Tesla chief executive Elon Musk has also secured GPUs from Nvidia for his AI start-up, The Financial Times reported in April.
Who are Nvidia's rivals in this market?
Nvidia's main competitors include Advanced Micro Devices and AI chips made in-house by companies such as Amazon, Google and Meta Platforms.
TO A LAND UNKNOWN
Director: Mahdi Fleifel
Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa
Rating: 4.5/5
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
RESULTS
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F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
Profile of MoneyFellows
Founder: Ahmed Wadi
Launched: 2016
Employees: 76
Financing stage: Series A ($4 million)
Investors: Partech, Sawari Ventures, 500 Startups, Dubai Angel Investors, Phoenician Fund
if you go
The flights
Emirates flies to Delhi with fares starting from around Dh760 return, while Etihad fares cost about Dh783 return. From Delhi, there are connecting flights to Lucknow.
Where to stay
It is advisable to stay in Lucknow and make a day trip to Kannauj. A stay at the Lebua Lucknow hotel, a traditional Lucknowi mansion, is recommended. Prices start from Dh300 per night (excluding taxes).
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MATCH INFO
Asian Champions League, last 16, first leg:
Al Ain 2 Al Duhail 4
Second leg:
Tuesday, Abdullah bin Khalifa Stadium, Doha. Kick off 7.30pm
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The Lost Letters of William Woolf
Helen Cullen, Graydon House
The specs
Engine: 5.0-litre V8
Power: 480hp at 7,250rpm
Torque: 566Nm at 4,600rpm
Transmission: 10-speed auto
Fuel consumption: L/100km
Price: Dh306,495
On sale: now
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
UAE currency: the story behind the money in your pockets
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Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
Brief scores:
Toss: Rajputs, elected to field first
Sindhis 94-6 (10 ov)
Watson 42; Munaf 3-20
Rajputs 96-0 (4 ov)
Shahzad 74 not out
Kandahar%20
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