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Asa Fitch: Nvidia showed that all the excitement about AI, of course there's a lot of buzz, there's a lot of hype around it, but people are really spending money on it. And they can't do it without these kinds of chips. Asa Fitch: Nvidia under Jensen Huang has tried for years and years and years to broaden its horizons. And at some point, it must've become clear that to expand the horizons, they needed to do other things.
Kate Linebaugh: The crypto winter hit Nvidia really hard. In the second quarter of last year, the company's shares lost nearly half their value. Kate Linebaugh: But the company's luck would change because of a bet that Huang had made years ago on AI. That's next. Years ago when Jensen Huang saw the potential of AI, he leaned in hard. He spoke about it on CNBC in March.
Asa Fitch: ChatGPT was built with Nvidia's chips. According to one estimate, the initial version of ChatGPT required 10,000 Nvidia chips. And these are not cheap chips either. You think about PC costs, maybe a thousand bucks or something like that. A server with numerous advanced Nvidia chips in it could easily cost upwards of a 100,000, $200,000 even.Asa Fitch: It was basically a gold rush.Jensen Huang: The demand is literally from every corner of the world.
Kate Linebaugh: Nvidia relies on other companies to produce its chips. The largest of them is based in Taiwan. And with demand skyrocketing, chip supplies are running low. Kate Linebaugh: While Nvidia struggles to meet demand in the US, it still has to navigate the export restrictions that prevent it from selling its most powerful chips to China.
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