Nvidia, the artificial intelligence semiconductor leader, will commence its annual developer conference in San Jose. Investors are eagerly anticipating new chip announcements from CEO Jensen Huang during his keynote address. These announcements will be crucial in determining whether Nvidia can maintain its dominant position as the leading seller of AI tools, which experienced immense demand over the past year. Nvidia currently holds approximately 80% of the data center AI chip market. However, analysts predict that Nvidia's market share may diminish in 2024 due to the introduction of competing products from companies like Intel and Advanced Micro Devices. During the conference, Huang is expected to unveil the next generation of AI processors, specifically the B100 chip, which is anticipated to deliver significant improvements compared to its predecessor, the H100. While Nvidia is primarily recognized as a chip designer, the company has also developed a vast range of software products. Therefore, it is anticipated that Huang will introduce multiple new software-related products during his keynote.

Nvidia recently reported that its software and services business achieved an annual run rate of $1 billion by the end of the last fiscal year. This year, Nvidia is hosting its GTC conference in person for the first time since 2019. Approximately 16, 000 attendees are expected, twice the number of the previous in-person event. Huang's keynote address will be held at a Silicon Valley hockey arena, which serves as the largest venue secured by the company for this event. The keynote is scheduled for 1:00 p. m. (2000 GMT). (Reporting by Max A. Cherney and Stephen Nellis in San Francisco; Editing by Tom Hogue)