An AI giant poses a new threat to Nvidia
Microsoft-backed OpenAI is looking to reshape the global market for AI-powering chips and processors.
Updated at 9:37 AM EST
Nvidia shares bumped higher in early Monday trading but remain in negative territory for the year, following a report suggesting that OpenAI, the Microsoft-backed creator of ChatGPT, is looking to design its own AI-powering chips as it plans its next phase of expansion.
Hyperscalers, the major providers of cloud services and infrastructure, and chatbot creators are looking to spend billions over the next two to three years developing data centers and training and deploying large-language model systems with new AI technologies.
