AI is coming for every company, Nvidia boss warns

Nvidia CEO Jensen Huang warned that artificial intelligence (AI) will eventually become a crucial part of every company and industry worldwide. Speaking during a visit to Stockholm, Huang emphasized the need for Europe to build its AI ecosystem, from data centers to chatbots and other applications.

Huang highlighted Nvidia's $8 billion investment in Europe over the past year, citing British data centre and AI cloud provider Nscale and Dutch cloud provider Nebius as examples of strategic investments aimed at strengthening the ecosystem. The company's latest venture includes the launch of Sferical One, a Swedish supercomputer powered by Nvidia chips, designed to keep sensitive Swedish data and expertise within the country.

Volvo Cars announced an expansion of its partnership with Nvidia to enhance safety technology in its self-driving vehicles. US Federal Reserve boss Kevin Warsh stated that AI technology represents the most consequential change to the global economy he has witnessed, predicting positive long-term effects despite short-term challenges such as inflation driven by demand-side effects.

Warsh emphasized the Fed's intention to utilize AI for improved data analysis and monetary policy, while acknowledging the uncertainty and potential market volatility surrounding the technology.