Nvidia is rising after announcing several new AI partnerships

  • Nvidia’s stock rose 1.38% in early trading on Tuesday.
  • The company is trying to expand the reach of its Deep Learning Institute to teach the next generation of artificial intelligence researchers.
  • Watch Nvidia’s stock move in real time here.

Nvidia’s stock is rising after the company announced it has partnered with several artificial intelligence companies to expand its efforts to train new AI researchers.

Nvidia is up 1.30% to $US206.50 on Tuesday after announcing an expansion of its Deep Learning Institute.

The company’s Deep Learning Institute is an initiative to train as many people as possible in AI programming and research. Nvidia announced a partnership on Tuesday with Booz Allen Hamilton, a government consulting firm, and Deeplearning.ai, an online training company, to broaden its institute’s reach.

“The world faces an acute shortage of data scientists and developers who are proficient in deep learning, and we’re focused on addressing that need,” Greg Estes, vice president at Nvidia, said in a news release.

Nvidia has been working on artificial intelligence for years, and has recently emerged as one of the leading providers of the hardware chips and software platforms used in AI applications. The company’s graphics processing units help speed up the training of AI systems while its CUDA software is one of the many platforms helping researchers with the development of their AI programs.

Nvidia has fostered a positive relationship with some of the most prominent AI researchers in the field, and sees its Deep Learning Institute as a way to start similar relationships with the next generation of AI researchers.

Nvidia is up 102.91% this year.

Read more about how everyone is underestimating the power of AI here.

Get the latest Nvidia stock price here >>

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