The CEO of Nvidia had a vital meeting with India's Prime Minister, focused on the promising outlooks for artificial intelligence in various sectors.
In Brief
This encounter signifies the second time Modi and Huang have come together, emphasizing Nvidia’s significant contribution to India's fast-evolving technology landscape.
Indian Prime Minister Narendra Modi During the meeting, Jensen Huang, the innovative leader of Nvidia, and Prime Minister Modi discussed key advancements. Nvidia Their meeting at the Prime Minister's official residence, 7 Lok Kalyan Marg, further reveals the growing alliance between the tech giant and India.
This significant gathering follows India's remarkable achievement in space exploration by landing in an untouched area of the Moon, highlighting the nation's expanding tech prowess. The timing coincides with India preparing to host the G20 summit, where world leaders will be discussing global issues.
This encounter signifies the second time Modi and Huang have come together, emphasizing Nvidia’s significant contribution to India's fast-evolving technology landscape.
Nvidia’s Growing Presence In India
Furthermore, the Nvidia developer ecosystem has gained traction, with over 320,000 Indian developers engaging with it. The widely-used CUDA parallel computing platform sees about 40,000 downloads monthly, contributing to a robust base of around 60,000 proficient CUDA developers in India.
The Indian government is actively enhancing its IT infrastructure, illustrated by the upcoming launch of a compute grid that will connect 20 cities across the nation. This project is designed to boost collaboration among researchers and facilitate data and resource sharing.
These initiatives resonate with Modi's ambitious economic plans, including aspirations to elevate India to the third-largest global economy by 2030, up from its current fifth position. He aims for India to reach....by the centennial of independence in 2047.
The company recently hit an impressive milestone, with its stock soaring past $487 and achieving a market capitalization of $1.2 trillion. Additionally, Iris Energy, a Bitcoin mining firm listed on Nasdaq, announced it would acquire 248 NVIDIA H100 GPUs for about $10 million, emphasizing the role of this technology in generative AI. ranks of developed economies .
Nvidia’s stock recently surged by 19% Iris Energy pointed out that these GPUs would be utilized for generative AI projects, recognizing it as a significant growth area.
The latest financial report for Q2 2023 showcases a remarkable 101% year-on-year revenue growth and an astonishing 854% rise in earnings per share. This revenue increase reflects the escalating demand for the H100 AI systems from major cloud service providers and developers in the generative AI arena.
As India strengthens its global technology presence, its collaboration with Nvidia is likely to be vital for achieving the country’s ambitions in AI and related sectors.
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Disclaimer
In line with the Trust Project guidelines Victor serves as a Managing Tech Editor and Writer at Metaverse Post, focusing on themes like artificial intelligence, cryptocurrency, data science, the metaverse, and cybersecurity in business. He has accumulated significant experience with well-regarded media outlets over the past five years, including VentureBeat and Analytics India Magazine. As a Media Mentor at esteemed institutions such as Oxford and USC, and holding a Master’s in data science, he passionately stays informed about tech trends.
