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Nvidia Slips to Third in WSB Rankings Amid Ambitious AI Push in India

Stock SpotlightFriday, Oct 25, 2024 7:01 am ET

1min read

Nvidia ranks third in the latest WSB rankings, slipping one position from the previous day.

The tech giant has announced a strategic collaboration with India's Reliance Group to establish AI infrastructure in India. This partnership aims to accelerate the adoption of artificial intelligence across the country.

At the AI summit in Mumbai, Nvidia CEO Jensen Huang revealed that Reliance will utilize Nvidia's latest GPU chip, Blackwell, to build large-scale data centers. This cooperation is anticipated to boost Nvidia’s computing capabilities in India by nearly 20 times.

Nvidia is also teaming up with other Indian technology firms like Infosys and Tata Consultancy Services to develop large language models in Hindi and conversational customer service systems. These initiatives target sectors such as e-commerce and healthcare within India.

India, with its vast population of 1.4 billion, is rapidly emerging as a significant AI market. While AI currently accounts for a small portion of revenue, global tech leaders see vast potential in this fast-expanding economy.

Jensen Huang emphasized Nvidia’s commitment to enhancing its computational infrastructure in India, predicting substantial growth in AI exports from the region. He lauded India as a future AI exporter, transforming from its historical role as a software outsourcing hub.

The upcoming data center in Gujarat will be among the first to employ Blackwell chips, setting the stage for rapid AI service proliferation across India.

Nvidia has also unveiled plans to aid companies like Tech Mahindra in creating Hindi-based AI models. The company aims to collaborate with e-commerce leader Flipkart on customer service AI solutions and improve productivity in the Indian healthcare sector.

Nvidia recently launched Gefion, an AI supercomputer in Denmark, primarily intended for advancing drug discovery and disease diagnosis. The global expansion reflects Nvidia’s strategy to solidify its leadership in AI technologies.

With the upcoming financial season, stakeholders eagerly await Nvidia’s performance report, scheduled for release on November 20th. The company is poised for significant revenue growth, buoyed by the surging demand for AI-driven chips.

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