Nvidia has emerged as the leader in powering the early days of the artificial-intelligence revolution, but rivals big and small are looking to close the gap. Heavyweights such as Advanced Micro Devices and Intel are spending billions of dollars to enhance their AI offerings, while startups are attracting investors eager to get into the next possible chip giant. Meanwhile, cloud-computing companies such as Amazon and Google are developing their own chips and becoming bigger players in this area. The current AI boom began late last year, when OpenAI’s ChatGPT tool captured the public’s imagination by generating cogent text in response to prompts. The attention led to a surge of investment in chips that can create and deploy ChatGPT and other so-called generative AI language systems. Nvidia was a leader in producing such AI chips, thanks in part to its background in making semiconductors for videogame graphics that were repurposed for AI years ago. The latest wave of enthusiasm juiced sales for Nvidia, skyrocketing its valuation above $1 trillion and prompting Chief Executive Jensen Huang to declare AI a revolutionary technology on par with personal computers and smartphones.
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