Recently, Nvidia’s CEO, Jensen Huang, mentioned Tesla and Elon Musk as one of the main companies that lead the advancement of autonomous vehicles. In an interview conducted by Yahoo Finance, Huang generally discussed automakers entering the self-driving technology market with Tesla at the forefront. Huang further stated, “Tesla is quite far ahead in the self-driving cars, but every single car, one day, has to have an autonomous driving feature. ”
‘Tesla is far ahead…’: Nvidia’s Jensen Huang praises Elon Musk’s self-driving efforts at Teslahttps://t.co/x47zw1eB3X
— Business Today (@business_today) May 29, 2024
Nvidia’s Optimistic Forecast and AI Dominance
Huang’s praise for Tesla is seen against the backdrop of Nvidia raising expectations for higher demand for its AI GPUs. Nvidia has become a dominant player in the market and currently holds about 80% of the market share for AI chips. As Huang noted, a revolution is taking place in the field of computing, and Nvidia is at the very heart of this revolution: “We are changing the very nature of computing and what can be computed. ”
Tesla Shareholders to Vote on Musk’s Compensation Package
This recognition of Tesla’s accomplishments comes at a time when Tesla’s shareholders are preparing to vote in June to restore Elon Musk’s $47 billion pay package. This came after the court in January nullified the compensation that he received. The case stemmed from a shareholder’s derivative lawsuit claiming that Musk was overcompensated.
Elon Musk’s Bold AI Investments
Elon Musk has been quite open about the fact that Tesla Motors has made huge investments in AI. In January, he likened the current AI competition to a poker game and stated that Tesla intended to go all-in on Nvidia’s AI hardware. In the post on X, Musk revealed that Tesla will use more than $500 million of Nvidia Artificial Intelligence chips in 2024. He said, “The table stakes for being competitive in AI are at least several billion dollars per year at this point,” showing that there is a need to spend at least several billion dollars annually in order to be in the running for AI.
Strategic Collaboration for Future Advancements
This is because the relationship between Tesla and Nvidia is a clear indication that Artificial Intelligence and Autonomous technology are crucial in the automotive sector. By using Nvidia’s AI chips in its vehicles, Tesla has emphasized the importance of technological innovation in the pursuit of enhancing the level of autonomy of self-driving cars. This partnership not only helps to consolidate Tesla as one of the leading companies in the autonomous vehicle industry but also helps Nvidia maintain and strengthen its position as one of the leading companies in the AI industry.
Jensen Huang’s congratulatory remarks on Tesla for the breakthrough in self-driving and the bright future of Nvidia are a testament to the current and ongoing growth of AI and autonomous vehicles. While Tesla’s shareholders are expected to approve Musk’s pay package, the partnership between Tesla and Nvidia will also help the development of new technologies to keep the two companies in the lead.
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