NVIDIA Holds the GPU’s and Everyone Wants Them (1)
Tech giants worldwide are on the hunt for Nvidia chips, with Saudi Arabia and the UAE joining the rush to power up their AI game. Nvidia's graphic processing units (GPUs) have become the beating heart of the AI surge that's dominated markets recently. Saudi Arabia recently scooped up at least 3,000 of Nvidia's H100 chips for a cool $40,000 each, and the UAE isn't far behind, snagging its own semiconductors for an AI language model.
Pretty crazy to see, GPU’s are quickly becoming the most valuable thing on earth, and if this pace continues NVIDIA could become the most valuable company on earth. However Microsoft and others are committed to compete with them.
But they're in good company; China and Elon Musk are both eager to stockpile Nvidia tech. However, with global demand skyrocketing, there are growing concerns that Nvidia might struggle to keep up. And as the cherry on top? Nvidia’s stock price is enjoying the limelight, tripling this year, making it the S&P 500’s star performer of 2023.
