October 7, 2023 at 5:10 pm | 2 min read
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CNBC Mad Money host Jim Cramer He emphasized his positive position on… Nvidia company (NASDAQ:NVDA) amid rumors that the chip maker will soon have a serious competitor Microsoft Corporation (NASDAQ:MSFT).
What happened: Microsoft is working to launch its first in-house AI chip at its annual developers conference early next month. He said, Quoted from a source. The report said that the proposed move would likely help the software giant reduce its dependence on artificial intelligence chips designed by Nvidia.
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The report also said that Microsoft has been working on the chip for years. The chip is designed for data center servers that train and run large language models, the report said, and is the software behind conversational AI features like OpenAI’s ChatGPT.
Microsoft’s data center servers currently rely on Nvidia’s AI chips to run LLM software and AI features in their production applications.
See also: Best AI Stocks
Kramer isn’t worried: Following the report, Nvidia stock fell 0.54% to $455.14 in after-hours trading, according to Benzinga Pro Data.
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In response to the rumours, Cramer, a huge fan of Nvidia and its cutting-edge technology, said: jensen huang, “I’m not going to sell Nvidia stock because of some misinformation about Microsoft chips and artificial intelligence,” he said.
“It sounds like misinformation to me,” he added.
Nvidia has been the leader in the AI race. Baird analyst Ted Mortonson of Business Insider said the company’s H-100 enabled “a leap forward in training, inference and fundamentally generative AI” and allowed ChatGPT to debut last November. mentioned.
“They have a whole bunch of AI silicon. And those are basically three components. They have the most advanced GPU, they have advanced networking built into the silicon, advanced built-in memory, and now they’re developing a new CPU,” he added.
Demand for Nvidia’s chips has risen so much that the company is finding it difficult to keep supply in line with the growing demand. Nvidia’s second-quarter results released in August reflected this strength as revenue and earnings came in well above expectations and forward guidance exceeded expectations.
Read Next: Jim Cramer Predicts Potential Stock Market Rally on Jobs Report: ‘You Definitely Have a Lot of Tinder’
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