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Nvidia’s rise seemed unstoppable, but cracks may be appearing in the strategy that built its $4.5 trillion empire
Shawn Tully is a senior editor-at-large at Fortune, covering the biggest trends in business, aviation, politics, and leadership.
In late October, Nvidia cofounder and CEO Jensen Huang took the stage at the company’s annual GTC conference to make a typically sweeping declaration. Nvidia, he pronounced, sits “at the epicenter of the largest industrial revolution in human history,” eclipsing the advent of the steam engine and electricity. He went on to unveil a stunning array of partnerships: Nvidia plans to build 100,000 driverless cars alongside Uber and join Palantir to supply software and chips to accelerate the transfer of products from warehouses to doorsteps; it has also hatched a blueprint showing “hyperscalers” how to build “AI factories,” giga-scale data centers that only operate at their most potent and efficient deploying, guess what, Nvidia systems.
Nvidia is no longer the most popular AI trade. Can it regain its crown?
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