Nvidia’s CEO, Jensen Huang, noted that the demand for computing resources is becoming increasingly significant due to the rapid evolution of artificial intelligence. This shift is leading to what he described as an ‘intense race’ for technological advancements in AI.

During a live event held in Las Vegas on Monday, Huang addressed various developments related to Nvidia while pointing out the intensifying competition within the AI industry. He remarked on the extraordinary growth of AI since its introduction, claiming that companies are striving to be pioneers in the upcoming wave of technology.

“The amount of computation necessary for AI is skyrocketing. The demand for Nvidia GPUs is skyrocketing. It’s skyrocketing because models are increasing by a factor of 10 every year,” Huang stated, adding:

“Everybody’s striving to reach the next level, resulting in a computing challenge. Accelerated computation brings us closer to breaking through to the next frontier.”

Potential Shift for Bitcoin Miners Towards AI

The surge in AI adoption has prompted several Bitcoin mining companies to either transition fully or partially towards the AI sector in recent years. This trend has been partially influenced by the increasing difficulty of Bitcoin mining, while AI also provides opportunities for miners to optimize their resources and potentially yield higher revenues outside Bitcoin.

More demand for AI computing may encourage Bitcoin miners to explore AI-related technologies. In his presentation, Huang also announced that Nvidia’s next-generation chips, Rubin and Vera, are now in full production and on track. He claims that these chips will offer five times the AI computing power compared to their predecessors.