NVIDIA Corporation (NASDAQ:NVDA), the graphic processing unit manufacturer, was reported as the smartest company among all private and public firms by MIT due to its innovative and business savvy technologies. The list, announced by MIT, listed other firms like Amazon.com, Inc. (NASDAQ:AMZN) and SpaceX at the top of the list, however neither could surpass the prowess of Nvidia.
David Rotman mentioned that the list is their best guess as to which companies will be the dominant firms of the future. Facebook Inc (NASDAQ:FB) and Alphabet Inc (NASDAQ:GOOGL) and Amazon are on the list, but so are many of newcomers. The main benefit NVIDIA has over its competition is an outcome of the remarkable growth in artificial intelligence.
As big firms like Apple and Google try to advance their AI technologies, they often require huge data centers to boost along their research. NVIDIA gains from this because these firms use its GPU chips and data-center when upgrading and building these centers. MIT mentioned that the firm spent $3 billion to advance its latest data-center chip, something that has paid off for the firm. The firm’s chips are utilized by every key player in the AI game.
Self-driving vehicles have been in the news lately. Many of the big firms working on AI technology are even working on self-driving vehicles. NVIDIA has associated with a slate of car producers to utilize the firm’s autonomous-driving chipset. Although not stated by MIT, the thrilling segment of cryptocurrencies could be another interesting business for NVIDIA. The firm is rumored to be manufacturing a cryptocurrency mining-specific chip intended to help it capitalize on the buzz around currencies like Ethereum and Bitcoin.
All these segments have no doubt led to the firms’ impressive rise. NVIDIA shares are up more than 30% this year. The firm is not a new name in the MIT’s smartest firms list, as it was included in previous two years as well.