The CEO of Nvidia Corp. Jensen Huang stated that AI has a huge role to play and will ensure the self-driving cars will become a reality within the next four years. He, however, played down the high level of expectations for the high demand of their chips from the miners of cryptocurrencies.
Nvidia Corp. became very popular with the manufacture of their gaming chips that are used for designing the graphics processor. In recent years though, the company has expanded their production into other industries, with some of their creations being high-performance computing, artificial intelligence, and self-driving cars.
The decision to expand has really paid off for the company as their stock has increased by over 170% over the last one year. This has boosted their market value to $116 billion.
Jensen Huang while addressing the media at an event in Taipei stated that “It will take no more than 4 years to have fully autonomous cars on the road. How long it takes for the vast majority of cars on the road to become that, it really just depends,”
It is no secret that renowned tech giants like Apple Inc, Facebook, Alphabet Inc, Amazon and China’s Huawei have been infusing a lot of cash into the development of AI that could see their services being driven by the technology. When it becomes successful, the growth that these companies could experience will be massive.
The Chief Operating Officer of Apple Inc. Jeff Williams said during the week that Apple devices are a very important platform that will support AI in the future. Huang also stated that “There are many tasks in companies that can be automated… the productivity of society will go up.”
Commenting on the growth of cryptocurrencies, Huang stated the high level of expectations that the revenue of digital currencies will increase due to the recent wave of interest shelved aside. Advanced Micro Devices Inc. had predicted that the level of demand for cryptocurrencies will reduce this week.
Huang mentioned that “Revenue for us in crypto is over $100 million a quarter. For us, it’s a small percentage… It’s obviously not a target market”