Written by 3:30 pm Generative AI, Latest news

### Nvidia Introduces Cutting-Edge Chips for Innovative AI Gaming

Nvidia announced new graphics processors and software for running generative artificial intelligenc…

On Monday, in Las Vegas, Nvidia (NVDA) revealed new graphics processors and software designed for running generative artificial intelligence programs on personal computers. The stock of Nvidia saw an increase in early morning investments.

Nvidia and Qualcomm play significant roles in powering much of the world’s technology. With 750 chipmakers involved in developing the core components of digital devices, competition in this sector is intense. These companies, along with AI stocks, have a major impact on Wall Street, often driving significant price fluctuations in the market. So, what essential information do investors need to be aware of in this crucial industry?

During a preview event ahead of the Les 2024 tech industry exhibition in Las Vegas, Intel introduced its GeForce RTX 40 Super Series PC graphics processing unit. The event commences on Tuesday and extends through Friday.

In addition to the hardware, Nvidia also unveiled RTX-accelerated AI software and tools aimed at enhancing the AI experience on PCs. These tools include Nvidia RTX Remix for conceptual AI development and the widely recognized Secure Diffusion XL unit for text-to-image workflows.

Furthermore, Nvidia introduced Chat with RTX, a program that allows AI enthusiasts to interact with their data, files, and other information using Nvidia’s large-language model technology. This feature is set to be released later this month.

Nvidia Chief Executive Jensen Huang emphasized the significance of generative AI in computing, stating that it is a pivotal technological advancement that will revolutionize various industries, including gaming.

At the Les 2024 event, Nvidia unveiled three versions of its GeForce RTX 40 Super Series graphics cards. The top-tier GeForce RTX 4080 Super is capable of producing artificial images and videos 1.7 times faster and 1.5 times more efficiently than its predecessor. The GeForce RTX 4080 Super was priced at \(999 upon its release on January 31, with the other GPUs in the series set to hit the market later this month at \)599 and $799, respectively.

Nvidia also highlighted the enhanced gaming experience offered by the new graphics cards.

While Nvidia is a key player in the emerging Artificial PC market, competitors like AMD and Intel are also making strides in developing AI-related PCs. Leading manufacturers such as Acer, Asus, Dell (DELL), HP (HPQ), Lenovo, MSI, Razer, and Samsung are set to start shipping RTX AI laptops this month. Nvidia claims that RTX GPU-enabled PCs outperform AI-powered computers using neural processing units.

At CES 2024, Advanced Micro Devices (AMD) and Intel (INTC) will also showcase their processors tailored for AI PCs. These products utilize neural processing units in addition to central and graphics processing systems to run native AI applications.

Nvidia’s stock has been highly rated by Wall Street analysts, with BofA Securities analyst Vivek Arya naming it as one of the top picks for 2024. Arya has assigned a buy rating to Nvidia stock with a \(700 price target. The stock rose by 4.3% to \)512.12 in today’s stock market trading.

Arya believes that Nvidia’s dominance in generative AI could potentially lead to the generation of $100 billion in free cash flow over the next two years. This influx of capital could be utilized for buybacks, acquisitions, and initiatives aimed at fostering organic growth.

Nvidia’s stock is featured on the Leaderboard, IBD 50, and Tech LeadersIBD lists, and it is part of the Magnificent Seven companies.

Visited 1 times, 1 visit(s) today
Last modified: January 11, 2024
Close Search Window