Jensen Huang, co-founder and chief executive officer of Nvidia Corp., speaks to the media as he arrives at an event in Taipei, Taiwan, on Thursday, Jan. 25, 2024. Credit: Getty Images / Bloomberg / Contributor

Accelerated computing, AI and generative AI (GenAI) have reached a “tipping point,” according to NVIDIA CEO Jensen Huang. 

The comments come after the technology giant saw its revenue increase by 265% to $22bn, in the three months before 28 January.

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“Accelerated computing and GenAI have hit the tipping point,” said Huang, adding: “Demand is surging worldwide across companies, industries and nations.”

Nvidia forecast a 233% increase in its quarterly revenues for its current quarter. 

The US chip maker company continues to be the market leader for AI chips but has also seen its data centres see huge growth. 

Nvidia’s data centre business made up the majority of its revenues in the most recent quarter. 

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“Our data centre platform is powered by increasingly diverse drivers — demand for data processing, training and inference from large cloud-service providers and GPU-specialised ones, as well as from enterprise software and consumer internet companies,” Huang said. 

Nvidia has become one of the most valuable companies in the US over the last year. The company has seen its stock market value increase by around 225% in the last 12 months.

Josep Bori, research director at research and analysis company GlobalData, told Verdict that he expects the “froth around GenAI to calm down somewhat” in 2024 and 2025.

This will occur as corporations and businesses figure out what is and what is not doable with the current state of LLM technology, according to Bori. 

“We still expect a significant percentage of corporate business processes that can benefit this technology [AI] – companies will have to embrace or they will find their margins lagging versus more advanced peers,” Bori said.