Nvidia faces competition from UXL Foundation in AI market

Summary: Nvidia's $2.2 trillion market cap is driven by AI chips and CUDA software used by over 4 million developers. A coalition including Qualcomm, Google, and Intel aims to challenge Nvidia's dominance with the UXL Foundation's open-source project. UXL plans to support various AI accelerator chips and attract cloud-computing companies. Venture funding into Nvidia's competitors reached $4 billion, with startups receiving over $2 billion in 2023. Nvidia shares closed at $950.02.

Full article