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Recently, Goldman Sachs, a world-renowned investment bank, released a striking report, pointing out that artificial intelligence (AI) as the "power fuel" of the stock market is far from exhausted, and predicting that GPU manufacturer Nvidia (Nvidia) will still have a significant rise in the future.
Goldman Sachs says that artificial intelligence has pushed the market into overdrive, but this "equity power fuel" is far from exhausted. Instead, the stock market is in the first phase of an AI-led boom that will continue to expand, boosting a growing number of industries, the bank said in its latest report released on Tuesday. "If Nvidia represents the first phase of an AI deal, then the second phase will be for other companies to help build AI-related infrastructure,"
"The third phase is for companies that incorporate AI into their products to increase revenue, while the fourth phase is for AI-related productivity gains, which should be achievable in many businesses," the bank wrote. "Since ChatGPT sparked the AI race in late 2022, GPU maker Nvidia has risen by a whopping 590%. Goldman Sachs said: "It's worth noting that these gains were driven solely by earnings growth: the company's price-to-earnings ratio was only slightly higher than at the beginning of last year. The bank's analysts support the view that the first phase is not over yet, and believe that Nvidia will have more gains in the future.
In addition, Goldman Sachs is not the only one that is still optimistic about the company's future trend. Evercore ISI recently gave a bullish target of $1,540, which represents nearly 94% upside from the current share price.
The development history of the global GPU chip industry
Before 1984, GPUs were originally only used for graphics and image related operations, and were allocated by CPUs, but with the development of cloud computing, AI and other technologies, the advantages of GPU parallel computing have been explored, and CPUs have gradually replaced CPUs as the protagonists in the field of high-performance computing. In 1999, NVIDIA first introduced the concept of GPUs when it released its iconic product, the GeForce 256. In 2006, NVIDIA released the first desktop GPU with a unified rendering architecture and the CUDA general-purpose computing platform, enabling developers to use the computing power of NVIDIA GPUs for parallel computing and expanding the field of GPU applications. IN 2011, NVIDIA RELEASED THE TESLAGPU COMPUTING CARD, OFFICIALLY SEPARATING THE GPU PRODUCT LINE FOR COMPUTING, MARKING THE OFFICIAL ENTRY OF GPU CHIPS INTO THE ERA OF HIGH-PERFORMANCE COMPUTING.
Global GPU chip industry chain competition analysis
From the perspective of the global GPU chip industry chain, most of the industry giants are concentrated in the United States, Europe, Japan and South Korea, etc., which are at the core of all links of the industrial chain and play a decisive role in the global GPU industry. Among them, in the design process, NVIDIA and AMD almost monopolize the market of independent GPU chips, while Intel and AMD almost monopolize the integrated GPU chip market; Equipment, materials, EDA/IP and other links are mainly occupied by leading enterprises in the United States, Japan, Europe and other countries; In the manufacturing process, TSMC and Samsung's technical level is in a leading position; In the closed testing link, it is currently mainly occupied by Chinese (including Taiwan and mainland China) and American companies.
The global market size is expected to exceed $32 billion by 2027
According to JPR data, it is expected that from 2022 to 2026, global GUP shipments will achieve a compound annual growth rate of 6.3%, and the market size of the global GPU chip industry is estimated to exceed $32 billion in 2027 at this growth rate.
According to forward-looking industry research, GPUs will still dominate the Al chip market in the short term, and will continue to lead Al chips in the short term. As the most mature and widely used general-purpose chip for Al computing on the market, GPU has great application potential. With its powerful computing power and high versatility, GPUs will continue to occupy the main market share of Al chips.
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For more research and analysis of this industry, please refer to the "Market Prospect and Investment Strategic Planning Analysis Report of China's GPU Chip Industry" by Qianzhan Industry Research Institute
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