Nexus2050: What has, so far in 2024, been the biggest surprise to you in technology?
: The rapid pace and immense scale at which AI compute has been deployed in 2024 has been the most astonishing technological surprise to me. Currently, the compute power coming online is increasing tenfold every six months, which explains Nvidia’s exceptional market value as the leading provider of top-tier neural network chips. This chip rush surpasses any gold rush in history!
The demand for AI compute is so tremendous that even electricity supply struggles to keep up with the power-hungry data centres. The financial investment in this sector is also staggering, with an estimated $1 trillion worth of installed compute requiring upgrades for AI, and likely another $1 trillion needed for new infrastructure. This unprecedented capital expenditure is fuelling a colossal market opportunity.
What do you expect will be announced in 2024, and by whom?
I anticipate that in 2024, we will witness a major announcement from either a prominent bank or financial institution regarding the construction of an extensive AI training cluster. Alternatively, a sovereign nation may reveal plans to establish a colossal cluster of GPUs dedicated to AI development.
Such an announcement would signify a significant shift in the AI landscape, as it would demonstrate the growing interest and investment from influential players outside of the traditional technology sector. This move would underscore the increasing recognition of AI’s transformative potential across various industries and highlight the escalating global competition to harness its power for economic and strategic advantages.
Which five companies should we watch in 2024, and why?
In 2024, I recommend keeping a close eye on these five companies due to their significant potential to shape the AI landscape:
Nvidia – As the pivotal player in AI, Nvidia is the Archimedes point of the industry. Any move they make sends ripples throughout the entire economy, making them a crucial company to watch.
Fluidstack – Rapidly emerging as a key player in the AI cloud space, Fluidstack is experiencing one of the highest growth rates in history. With enormous potential, they are on track to become one of the largest European tech firms.
Poolside – Code generation holds one of the most credible paths to revolutionising the world through AI by making software creation accessible to everyone. Poolside’s progress in this domain makes them a company to keep on your radar.
Mistral – Despite limited resources, Mistral has demonstrated an incredible pace of innovation in open source technology. Their journey is one to follow closely, as their next steps are bound to be intriguing.
X.ai – With Elon Musk at the helm, X.ai’s foray into AI is highly anticipated. Given their access to amazing data and substantial compute resources, it will be fascinating to see what they deliver in the coming year.
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Originally published by and reposted with permission