This 'gamechanger' technology is harder than rocket science and will drive the next AI wave, Goldman Sachs says
The sensational debut of ChatGPT heralded the rise of artificial intelligence as a transformational technology this year, igniting a wave of excitement among investors and businesses.
The cutting-edge tech will boost the global semiconductor industry to $1 trillion by the end of the decade from $600 billion currently, according to Alexander Duval, lead analyst for Europe tech hardware and semiconductors for Goldman Sachs Research. Semiconductors serve as the foundation for the AI industry, and this is driving up the stock-market valuations of chipmakers. Nvidia is the best performer of the year in the S&P 500 index with a whopping 222% jump. Its rival AMD has advanced 78%.
"We see it as key in facilitating the production of more and more powerful chips for use cases such as AI, high-powered computing, and autonomous driving," he added.
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