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Nvidia debuts host of AI technologies and services, capitalizing on ChatGPT hype

Nvidia (NVDA) is going all in on artificial intelligence (AI) technology at its GTC 2023 developer conference, rolling out new services and hardware geared toward powering a host of AI offerings set to capitalize on the frenzy surrounding generative artificial intelligence.

“The impressive capabilities of generative AI have created a sense of urgency for companies to reimagine their products and business models,” Nvidia CEO Jensen Huang said in a statement.

“We are at the iPhone moment of AI.”

One of the biggest announcements out of the show is Nvidia’s new DGX Cloud service, which the company says provides enterprise customers with the kind of supercomputing capabilities needed to train their own generative AI models and other apps.

Nvidia CEO Jensen Huang gave the keynote address at the company's GTC 2023 developer conference. (Image: Nvidia)
Nvidia CEO Jensen Huang gave the keynote address at the company's GTC 2023 developer conference. (Image: Nvidia) (Nvidia)

A monthly rental service, DGX Cloud allows customers to quickly set up large, multinode training workloads via the cloud, cutting down on training and development time, Nvidia said.

According to the graphics chip giant, Amgen is using DGX Cloud along with Nvidia’s BioNeMo large language model to speed up drug discovery.

“With NVIDIA DGX Cloud and NVIDIA BioNeMo, our researchers are able to focus on deeper biology instead of having to deal with AI infrastructure and set up ML engineering,” said Peter Grandsard, executive director of Amgen’s Center for Research Acceleration by Digital Innovation.

CCC Intelligent Services, meanwhile, is using DGX Cloud to speed up development of AI models for its property and casualty insurance platform.

Nvidia also announced its new AI Foundations service that will allow companies to build and operate their own large language and generative AI models based on the data they feed them.

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So far, Nvidia says Adobe (ADBE), Getty Images, Morningstar, Quantiphi, and Shutterstock are building AI models using the new platform. Adobe, for instance, is using the software to build out generative AI models for images and video, which will eventually make its way into Adobe Photoshop, Premiere Pro, and After Effects.

Then there’s Nvidia’s new cuLitho software library, which the company says will help semiconductor manufacturers design and build chips at a faster rate than current production processes.

The software, which is being used by the likes of TSMC and ASML, uses graphics processors to replace CPUs in the fabrication processes, with Nvidia promising a 40x jump in overall performance in creating chips.

Nvidia is leaning heavily into the hype around generative AI like OpenAI’s ChatGPT, Microsoft’s (MSFT) Bing, and Google’s (GOOG, GOOGL) Bard. The company’s data center business is now its primary breadwinner, overtaking its gaming division, and bringing in $3.62 billion of the company’s $6.05 billion in Q4 revenue in 2022.

Got a tip? Email Daniel Howley at dhowley@yahoofinance.com. Follow him on Twitter at @DanielHowley.

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