This Is the Real Winner of the AI Arms Race, and It Is Way Cheaper Than Nvidia
Artificial intelligence (AI) is expected to become big business in the long run, with Bank of America estimating that the proliferation of this technology could add $900 billion to the global economy by 2026. That figure is expected to balloon to a whopping $15.7 trillion by 2030.
The investment bank also adds that AI models are going to become way more powerful than they are right now. More specifically, BofA points out that AI models could become 1 million times more powerful as compared to OpenAI's chatbot within the next decade. But this could be possible only with the help of powerful chips with massive amounts of computational power and efficiency so that complex AI models can be trained, and inferences can be run using those models to provide responses in real time.
This explains why the demand for AI chips is expected to increase at a breathtaking pace, generating annual revenue of $309 billion in 2030 compared to just $10 billion in 2021, according to Verified Market Research. Nvidia (NASDAQ: NVDA) is one of the best ways to tap into this lucrative opportunity as the chipmaker currently dominates the market for AI chips.
Source Fool.com
