The global stock prices of NVIDIA and AMD continue to soar as businesses seek AI-building chips to enhance their digital transformation. The surge in stock prices is a result of the expansion of their global chip businesses.

During this period of high digital demand, industry leaders continue to compete for powerful AI-building chips. The record-breaking stock prices indicate strong investor interest as more and more companies rush to purchase graphics processors to leverage and deploy AI.

NVIDIA has been leading in the high-end chip market and released its latest chip, H200, at the end of 2023, which is designed for training AI models. Similarly, AMD continues to increase its investment in AI technology, focusing on the benefits it can bring to businesses.

AI Continues to Achieve Stock Market Success

In the past 18 months, the hype around AI has grown exponentially, especially with the launch of OpenAI's ChatGPT, leading to a surge in AI stocks. Now, business leaders should channel this interest into developing more advanced technologies for buyers.

This is the kind of achievement companies like Microsoft have made, recently surpassing Apple to become the world's most valuable company. This is mainly due to Microsoft's success in generative AI (Gen AI) technology and Copilot.

NVIDIA's AI projects have also paid off, with its H200 providing strong support for Gen AI and high-performance computing (HPC) workloads with its higher performance and memory capabilities. The company describes its latest chip as the world's most powerful super GPU.

CEO Jensen Huang has referred to AI as the "remaking of computing" in 2023, as he continues to lead the company's innovation. This includes many highly anticipated collaborations, such as with AWS and Microsoft.

Similarly, under the leadership of Su Zifeng, AMD's financial performance has also seen a recovery. The company's stock price and market share have significantly increased, reflecting the success of Su's strategic initiatives. She focuses on innovation, particularly in the high-performance and energy-efficient processor space, making AMD a leader in the semiconductor industry.

With the acceleration of AMD's sales, AI is clearly key. With the AI chip market projected to be worth $53.5 billion in 2023 and expected to grow to $67 billion in 2024, AMD has the capability to continue selling its semiconductors to drive some leading digital transformations.

This news comes as tech giant Meta recently announced plans to purchase billions of dollars' worth of GPUs in 2024, including those from NVIDIA, as part of its commitment to further develop open-source AI models.

In December 2023, Meta, along with OpenAI and Microsoft, also announced its intention to use AMD's new Instinct MI300 X AI compute chip.

With such a large scale, it is evident that these companies will continue to expand their global businesses throughout 2024 as AI becomes a top priority for enterprises.