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• Nvidia announced three new GPUs for 'local' AI on Monday.
• The tech behemoth expects new apps to emerge in 2024.
• Nvidia stock is now up over 350% versus its low in Oct 2022.

Nvidia Corp (NVDA) is up 5.0% this morning after announcing three new chips that can run “Gen AI” apps on the personal computer in your living room.

Nvidia launched three new GPUs
 

The tech behemoth added “tensor cores” to the RTX 4060 Super, RTX 4070 Ti Super, and RTX 4080 Super to make them suitable for handling a bunch of AI tasks “locally”.

The likes of Dell, Acer, and Lenovo will soon use these three consumer-level graphics processing units in their laptops as well, Nvidia added. Justin Walker – its senior director of product management said in a press conference today:

With 100 million RTX GPUs shipped, they provide a massive installed base for powerful PCs for AI applications.

Nvidia stock is now up more than 350% versus its low in October of 2022.

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Nvidia sees new AI apps emerging in 2024
 

Nvidia also confirmed on Monday that its RTX 4080 Super is about 150% times more efficient than its previous predecessor in generating an AI video.

The recent software improvements, as per the Nasdaq-listed firm, will help its newly launched chips process large language models up to five times faster.

Nvidia $NVDA CEO Jensen Huang:

Generative AI is the single most significant platform transition in computing history. In the last 40 years, nothing has been this big. It’s bigger than PC, it’s bigger than mobile, and it’s gonna be bigger than the internet, by far.”

AMD $AMD… pic.twitter.com/xH96RGPFWd

— The AI Investor (@The_AI_Investor) January 7, 2024

Nvidia is convinced that new applications of artificial intelligence will continue to emerge in 2024. Microsoft, for example, is slated to launch the “Windows 12” this year that may require a local AI chip for the user to experience the full scope of what it has to offer.

In November 2023, the semiconductor giant cited AI boom as it reported an over 200% annualised growth in its revenue for the third quarter (read more).  

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