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Indian Prime Minister Narendra Modi met with Jensen Huang, the founder and CEO of Nvidia, on the official residence of the Prime Minister, 7 Lok Kalyan Marg, underscoring the chip manufacturing conglomerate’s rising partnership with India.
This assembly comes on the heels of India’s historic lunar touchdown on the Moon’s south pole, showcasing the nation’s increasing technological capabilities. The Modi-Huang assembly holds specific significance as India prepares to host the upcoming G20 summit later this week, which is able to convene leaders from the world’s largest economies.
This marks the second assembly between Modi and Huang, highlighting Nvidia’s integral position in India’s quickly rising expertise sector.
Nvidia’s Rising Presence In India
Nvidia has maintained a robust presence in India since 2004 when it established its operations in Bangalore. The chip manufacturing conglomerate boasts 4 engineering growth facilities throughout Gurugram, Hyderabad, Pune, and Bengaluru, with over 3,800 workers within the nation.
Furthermore, the Nvidia developer program has attracted over 320,000 Indian builders, with the CUDA parallel programming platform being downloaded roughly 40,000 occasions per 30 days, and an estimated 60,000 skilled CUDA builders in India.
India’s authorities has been actively increasing its data expertise infrastructure, exemplified by the forthcoming compute grid that can join 20 cities throughout the nation. This initiative goals to boost collaboration amongst researchers and scientists, facilitating the environment friendly sharing of knowledge and computing assets.
These developments align with Modi’s bold financial objectives, together with India’s ascent to the world’s third-largest economic system by 2030, from its present standing because the fifth largest. Moreover, Modi has set a goal of 2047, India’s hundredth anniversary of independence, to hitch the ranks of developed economies.
Nvidia’s inventory not too long ago surged by 19%, reaching a file excessive above $487 and reaching a market cap of $1.2 trillion. Including to this momentum, Iris Vitality, a Nasdaq-listed Bitcoin mining platform, introduced its buy of 248 NVIDIA H100 GPUs for about $10 million on Tuesday.
The corporate specified that it acquired the GPUs for generative AI functions, seeing this expertise as a further alternative.
The corporate additionally disclosed sturdy Q2 2023 monetary outcomes, revealing a formidable 101% year-over-year enhance in income, accompanied by an 854% surge in earnings per diluted share. The rise in firm income is attributed to heightened demand for its H100 AI infrastructures, significantly from outstanding cloud service suppliers and different builders within the generative AI sector.
As India continues to solidify its presence on the worldwide expertise stage, its partnership with Nvidia guarantees to play a pivotal position in realizing the nation’s aspirations in AI and technology-driven sectors.
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