Tech
Meta AI data centers hold about 600,000 Nvidia H100 GPUs: SIGGRAPH 2024
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Nvidia (NASDAQ:NVDA) CEO Jensen Huang revealed Meta (NASDAQ:META) AI data centers hold approximately 600,000 of Nvidia’s H100 GPUs, during a chat at SIGGRAPH 2024 in Denver on Monday.
The pair of Magnificent Seven CEOs also discussed the importance of open-source technology.
“Zuckerberg highlighted that Apple (AAPL) has clearly won the mobile generation with a closed ecosystem environment,” said Wells Fargo analyst Aaron Rakers, in a note. “Looking forward, he is hopeful that in the next-gen compute ecosystems will entail openness (especially open software development).”
“With Llama and AR/VR for mixed reality with an open OS in order to make all kinds of devices,” he added. “We think some could find these thoughts as interesting when considering the closed ecosystem perception toward NVIDIA.”
The two also discussed Meta’s Llama 3.1, its largest language model yet. It is open source and Nvidia is focused on bringing it to enterprises and democratizing generative AI deployments.
Jensen also highlighted that generative AI will drive the next wave of software creation.
“Jensen subscribes to the view that we are at the 3rd inning of software, with traditional software being the 1st inning and software infused with machine learning being the 2nd,” said Citi research analysts Atif Malik and Papa Sylla, in a Tuesday note.
“Now, he adds, we have software 3.0 which instead of using traditional machine learning will start with pre-trained models armed with capabilities to code and solve specific problems,” they added. “Consequently, building a software will be very much like assembling teams of AI tools/models of various capabilities.”
Nvidia’s Blackwell roll out also appears to be on track, and is coming to Google Cloud (GOOG)(GOOGL) in early 2025.
Citi maintains its Buy rating on Nvidia following the event and a price target of $150. Wells Fargo rates Nvidia Overweight with a $155 price target.
Nvidia and Meta were both relatively flat during pre-market trading on Tuesday.
More on Meta Platforms, Nvidia, etc.
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