The Ratings Game: As chip sales dry up, Nvidia CFO says spending on AI will save companies money

by | Mar 6, 2023 | Stock Market

Nvidia Corp.’s financial chief reasons that the efficiencies businesses need are not from spending less money, but from spending more on technologies like artificial intelligence, even as chip sales dry up. “AI is in an inflection point,” Nvidia’s
Colette Kress told Morgan Stanley’s Technology Media and Telecom Conference on Monday. “We’ve now incurred a point in time with generative AI, in particular with [OpenAI’s] ChatGPT, that folks understand, and just some of the most simple cases how this can benefit them — benefit them from a use case as a consumer, or an enterprise on thinking about how they can develop AI within their universe as well.”

In that vein, Kress made the pitch that tightening the belt was not always the best way to save money, seeing that the recent jump in interest in ChatGPT taxed many public servers’ capacity. “When you think about these economic times, it’s both a time for folks to focus on their budgets or focus on what they’re spending on,” Kress said. “However, they’re still working on efficiencies of how they’re using their money, how they’re using their capital.” “The focus on accelerated computing, no matter how you look at it, is always going to be an improvement of efficiency and the use of their money,” Kress said. “The amount of money that they save in terms of moving to accelerated, not only is it more efficient just from a computing standpoint, but you’re spending less.” Read: Nvidia adds to AI hype with new …

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