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According to StockApps.com, Nvidia has surpassed the $1 trillion mark due to high demand for its products, especially those associated with artificial intelligence (AI). The stock initially surged in pre-market trading but dipped slightly below the threshold by the close of regular trading.
Nvidia has been a critical player in developing AI application technologies, such as facial recognition systems and self-driving cars. Its graphic processing units (GPUs) are a crucial component in many data centers worldwide.
Tech giants Google and Amazon have widely adopted Nvidia's GPUs for their AI applications, and the gaming industry has also seen a surge in demand for its chips for enhanced virtual reality and augmented reality experiences.
CEO Jensen Huang's strategy of making AI applications a central focus has been credited for Nvidia's success. In a recent keynote, he stated that the company changed everything by focusing on AI a decade ago. For more information, check out the full story and statistics on Nvidia Rides the AI Wave, to Surpass the $1 Trillion mark.
At Nvidia's recent developer conference, CEO Jensen Huang declared that the company aims to bring AI to every industry. Huang introduced the new DGX Quantum platform, which utilizes Quantum Machines and allows researchers in quantum computing to train the newly open-sourced CUDA Quantum platform.
Nvidia has entered into multiple partnerships to expand the use of AI. For instance, they have partnered with Medtronic to integrate AI into patient care.
According to a press release, Nvidia is collaborating with Medtronic, the world’s largest healthcare technology provider, to accelerate the development of AI in the healthcare system and bring new AI-based solutions into patient care.
The companies will integrate Nvidia healthcare and edge AI technologies into Medtronic’s GI Genius intelligent endoscopy module, which was developed and manufactured by Cosmo Pharmaceuticals.
GI Genius is the first FDA-cleared, AI-assisted colonoscopy tool to help physicians detect polyps that can lead to colorectal cancer. GI Genius has been designed to host a suite of AI algorithms and integrating the NVIDIA Clara™ healthcare platform could allow Medtronic to scale the development of algorithms for real-time procedures, potentially accelerating AI innovation for better patient care.
Nvidia, founded in 1993, has been at the forefront of accelerated computing. Their invention of the GPU in 1999 revolutionized computer graphics and sparked the growth of the PC gaming market. They have since contributed to modern AI's emergence and the industrial metaverse's creation.
Nvidia boasts 27,000 employees in fifty locations and has reported $27 billion in revenue in FY23, with 7,5000+ granted and pending patent applications worldwide. Nvidia's Developer Program has 4 million developers, and its inception program has 14,000 global startups. Over 1 million developers have downloaded the MONAI framework for AI in healthcare imaging, while more than 1 million developers use the Nvidia platform for AI at the edge.
Over 200 million gamers and creators use Nvidia Geforce GPUs, and Nvidia Omniverse has 300,000 individual users. More than 40,000 companies use Nvidia AI technology to power AI factories, and Nvidia DRIVE powers all 30 of the top autonomous vehicle data centers.