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Nvidia is now worth $102M per employee
(sherwood.news)
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AI is certainly a bubble but Nvidia has been working on this stuff long before the hype. I don't think you can easily dismiss them. Personally I don't think the future of AI is giant data centres, it will be running in desktops GPUs and dedicated AI chips. It already is.
It will be both. AI local and AI cloud.
For the average person every day use AI will be local on device. But companies with massive data sets will be processed with a data center.