Nvidia AI Chips Are in Demand, Meta Amassing Stockpile

This article originally appeared on Business Insider.

Nvidia’s CEO recently shed light on the allocation of its in-demand chips.

The comments have brought Meta boss Mark Zuckerberg’s extensive stockpile back into the spotlight.

Jensen Huang told investors on Wednesday that the company was doing its best to share the chips evenly amid unprecedented demand.

“We do the best we can to allocate fairly and to avoid allocating unnecessarily,” Huang said in a call with analysts following Nvidia’s fourth-quarter results.

Huang was responding to a question about distributing chips between the companies fighting over a limited supply, many of which are competitors.

“At the core of it, we want to allocate fairly, avoiding waste, and looking for opportunities to connect partners and end users,” he said.

Meanwhile, Zuckerberg is plowing on with his plan to acquire hundreds of thousands of the chips as part of his ambition to create a “top-level product group” focused on generative AI.

Last month, Zuckerberg told The Verge that Meta would have more than 340,000 Nvidia H100 GPUs — the main chips companies use to train and deploy AI models — by the end of 2024.

Taking into account chips of other types, the CEO said he expected Meta to have amassed 600,000 GPUs by the end of the year, the report said.

The surge in global demand for the chips has dramatically boosted Nvidia’s stock over the last 12 months.

The AI chipmaker reported better-than-expected quarterly revenues on Wednesday, with revenues of $22.1 billion in the fourth quarter — a 265% year-on-year increase. Nvidia stock surged almost 15% in premarket trading after posting the blockbuster sales, Business Insider reported.

Meta did not immediately respond to BI’s request for comment.

Read original article here

Denial of responsibility! Yours Bulletin is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@yoursbulletin.com. The content will be deleted within 24 hours.

Leave a Comment