Second Wave AI: Here's What Comes After NVDA's 780% Run
By Ian King
Editor, Strategic Fortunes
Banyan Nation,
“Where do you think the AI GPU market is going?”
That’s a question that caught me off-guard recently…
It wasn’t the question itself that surprised me. It was who asked it.
My dentist knew what a graphics processing unit (GPU) chip was and knew that it’s used to train AI models?
This is a man who proudly calls himself a Luddite.
A few years back, he even needed my help restarting his computer so that he could access my records.
And yet, there we were having a conversation about GPUs.
But after my appointment, the more I thought about it, the more it made sense.
Technology comes in waves, and when it comes to AI, Nvidia led the first wave.
Back in the day, the only people who ever talked about Nvidia’s GPUs were gamers who used the latest chips to render the best graphics on their computers when they played video games.
Then once crypto arrived, people used these same GPUs to solve complex calculations involved in mining cryptos like bitcoin.
But other than these two niche communities, there wasn’t a high-growth market for Nvidia’s GPUs.
That is until researchers and start-ups like OpenAI started incorporating Nvidia’s high-performance GPUs to train AI models like Chat-GPT.
Once these generative AI models started making their public debut, the demand for GPUs skyrocketed.
From the start of 2023 to its recent peak, Nvidia has risen over 780%.
And all everyone wants to know when earnings season rolls around is, “How many GPUs did Nvidia sell this quarter?” and “How many GPUs does it plan to sell next quarter?”
Nvidia played a pivotal role in the first wave of AI, and its story has already been told.
That’s why everyone knows about the company and its GPUs, my Luddite dentist included.
That’s not to say that Nvidia won’t continue to benefit from the rise of AI.
But the next big winners will be found in the companies that lead the second wave of AI.
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A Second Wave of Opportunity Rises
Technology comes in waves, and some of the most lucrative opportunities can be found in the second wave.
Take the example of the internet.
We saw the first wave of the online world when telecom companies laid cables to bring the Internet to our homes in the 1990s.
And soon, we got AOL discs in our mailboxes, allowing us to get online for the first time. That’s why the first wave was dominated by sales of personal computer (PC) hardware and software, as well as modems to get online.
But as internet speeds became faster, businesses began to realize they could take their brick-and-mortar stores online.
Entire new business models were invented.
The second wave emerged, allowing us to transact safely and quickly, with even our most personal information.
The winners of the second wave included:
- eBay, was founded in 1995, and since going public, soared over 8,000% at its peak.
- Jeff Bezos’s Amazon went public in 1997, and its stock has skyrocketed over 159,000%.
- Google debuted in 1998 and became the go-to search engine for 5 billion people worldwide. It's up over 6,600% since going public.
These are some of the all-time biggest companies in the world that launched on the second wave of the internet.
That's how lucrative second waves can be.
15X Growth in the AI Market
When it comes to AI, we already know the kinds of companies that were involved in the first wave.
These companies have helped AI turn into a $13 trillion market today.
But nearly every business and organization wants to go much further.
They want to incorporate AI into every task and function that they can think of to transform their business.
ARK Investment Management estimates that AI will add $200 trillion to the global economy by 2030 – just over five years from now.
This 15X growth in the AI market will be led by companies in the second wave of AI.
If you want to ride AI’s second wave before it’s too late … Go here to find out more about these three companies that are set to profit from AI’s second wave.
Until next time,
Ian King
Editor, Strategic Fortunes
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