Crypto Updates

Nvidia CEO Jensen Huang Urges Nations To Embrace ‘Sovereign AI,’ Predicts Data Center Spending To Hit $2 Trillion By 2029

Veteran Trader Peter Brandt Asks Macro Guru If Bitcoin Bull Has Finally Awoken From Deep Slumber

Nvidia Corp.’s (NASDAQ:NVDA) Jensen Huang advocated for every country to invest in and develop its own “Sovereign AI,” or “SAI” as it is being called, to make sure their data is in their own hands.

What Happened: Speaking during the World Governments Summit in Dubai, Huang stressed the importance of countries owning the intelligence they “generate” using their data and human efforts.

Describing it as “Sovereign AI,” Huang explained that “it codifies your culture, your society’s intelligence, your common sense, your history – you own your own data.”

“You cannot allow that to be done by other people.”

Huang-led Nvidia is at the center of the AI revolution, and that has led to a 50% surge in its stock since the beginning of 2024 alone – Nvidia’s shares have surged from $482 at the beginning of the year to $722 as of markets close on Monday.

See Also: Google’s Gemini Chatbot Generates Fictional Super Bowl 2024 Statistics: Beware If You Use It For Research

This has brought Nvidia’s market capitalization within striking distance of that of Inc. (NASDAQ:AMZN) and Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL).

The secret behind this could be the ubiquity of Nvidia’s chips.

“Nvidia GPU is the only platform that’s available to everybody on any platform. It has not only democratized AI but facilitated a wave of innovation that spans from cloud computing to autonomous systems and beyond,” Huang said.

“Everybody in the world is now a programmer — that is the miracle.”

Doubling ‘Accelerated’ Data Centers Around The World

Data centers have helped power the rise of AI development, and Huang believes this will only speed up going forward.

Huang predicted that the number of data centers worldwide will rapidly surge in the next four to five years.

Huang believes the installed base of data centers will double to $2 trillion from the existing $1 trillion over the course of the next four to five years.

“All of these data centers will be ‘accelerated’. This architecture for ‘Accelerated Computing’ is ideal for this next-generation of software called Generative AI, so that’s really at the core of what’s happening.”

“One of the greatest contributions we made was advancing computing and AI by 1 million times in the last 10 years.”

NVDA Price Action: Nvidia stock closed at $720.70, down by 0.25%…

Click Here to Read the Full Original Article at Cryptocurrencies Feed…