In the July 2023 quarter, NVIDIA reported a 100 percent increase in revenues to $13.5 billion and a more than nine-fold increase in net profit, largely due to increased demand for AI chipsets.

India, with its large IT workforce, is set to become the largest exporter of AI technology in the future, a senior official of computer chip maker NVIDIA said. Speaking at a networking event in Bengaluru on Thursday, NVIDIA founder and CEO Jen-Hsun Huang said the Indian IT workforce will be re-skilled, which will make it the world's largest pool of AI talent.

"India will not import AI in the future. You will export AI. This should be the largest exporter of AI in the world. You have the largest IT workforce in the world. They will all be retrained. It's going to be the largest tech workforce on the planet," Wong said. NVIDIA sees the growth of AI driving huge demand for chipsets.

In the July 2023 quarter, NVIDIA reported a 100 percent increase in revenue to $13.5 billion and a more than ninefold increase in net income, largely due to increased demand for AI chipsets.

Building AI technology or AI engines requires investment in high-speed computer chips, such as graphics processing units or specialized chips. Recently, Chinese companies ordered $5 billion worth of chipsets from NVIDIA to build generative AI systems.

U.S. companies are also investing heavily in high-end chipsets to build AI capabilities. Microsoft has offered a $1 billion investment in 2019 and $10 billion in 2023 to Open AI LP.

IBM alone has invested $6.5 billion in R&D and engineering to innovate in emerging areas such as AI, hybrid cloud and quantum by 2022. NVIDIA announced a partnership with Jio and Tata Group to build a computing infrastructure in India that facility will provide the resources needed for the development of artificial intelligence in the country.

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2. AMD Considers Making Specific AI Chips for China to Comply with Export Controls

3. U.S. Restricts Nvidia and Amd from Exporting Ai Chips to Some Middle Eastern Countries