Nvidia turns to AI cloud rental to spread new technology

FILE PHOTO: The logo of NVIDIA as seen at its corporate headquarters in Santa Clara, California, in May of 2022. Courtesy NVIDIA/Handout via REUTERS

(Reuters) -Nvidia Corp Chief Executive Jensen Huang on Tuesday laid out the company's plans to make the powerful and expensive supercomputers used to develop AI technologies like ChatGPT available for rent to nearly any business.

While that access will not come cheap - at $37,000 a month for eight of Nvidia's flagship A100 or H100 chips strung together - offering it to a wider swath of business customers could accelerate an AI boom that has driven Nvidia shares up 77% this year, making it about five times more valuable than longtime rival Intel Corp.