Nvidia Boosts Investment In Israel
"New AI Supercomputer 'Israel-1' To Be Built By Company In Israel"
Last week, Nvidia Corporation made history by adding $180 billion to its market cap in one day. This brought the total to $1 trillion. Nvidia shocked the market with outstanding sales growth guidance of $11 billion, which is higher than analysts' estimates of $7 billion. This growth is due to the increasing demand for microchips adapted to artificial intelligence (AI). As a result, Nvidia joined the exclusive group of companies traded at over $1 trillion market cap, including Apple, Amazon, Microsoft, and Google parent company Alphabet.
Nvidia Plans To Add 1,000 Staff In Israel
Nvidia Boosts R&D In Israel
Nvidia CEO Jensen Huang spoke at National Taiwan University. He has been with Nvidia since it started in 1993. Huang is very excited about Nvidia's success and the future of AI. He said that AI is "a rebirth of the computer industry." Huang thinks every industry will change because of AI.
Huang is really rich. He's ranked 38 on the billionaires list. He has $34 billion. This is according to Bloomberg. Huang has a special story. It's like the American Dream. He's had a hard life. He grew up as an introverted child of immigrants. Huang leads a famous company. The company is very ambitious.
Nvidia bought Mellanox in 2020. Mellanox is from Israel. They make parts to help computers go faster. This helps with cloud computing and data centers. Nvidia paid $7.36 billion for Mellanox.
Nvidia opened a new center in Israel last year. They develop CPUs there. The CPUs are used for tech applications like AI, autonomous vehicles, and robotics.
Huang visited Israel in April. He toured Mellanox's main development center in Yokne'am. Huang told Mellanox employees that they are used to competing in the market. Huang said he always comes to invent the market.
Nvidia is planning to build a supercomputer in Israel. It's called Israel-1. The computer is for generative AI tasks. This is a big deal for Nvidia. They will be investing hundreds of millions of dollars.
The blog was published on June 4, 2023. It is from Globes, Israel business news. The website for this is en.globes.co.il.
Globe's publisher, Itonut (1983) Ltd., owns the copyright until 2023.
Jensen Huang is being recognized. He was given credit via a photo from Reuters.
