Business News Report Technology
September 05, 2023

Nvidia CEO Meets India’s Prime Minister Modi to Explore AI’s Future Prospects

In Brief

This marks the second meeting between Modi and Huang, highlighting Nvidia’s integral role in India’s rapidly growing technology sector.

Nvidia CEO Meets India’s Prime Minister Modi to Explore AI’s Future Prospects

Indian Prime Minister Narendra Modi met with Jensen Huang, the founder and CEO of Nvidia, at the official residence of the Prime Minister, 7 Lok Kalyan Marg, underscoring the chip manufacturing conglomerate’s growing partnership with India.

This meeting comes on the heels of India’s historic lunar landing at the Moon’s south pole, showcasing the nation’s expanding technological capabilities. The Modi-Huang meeting holds particular significance as India prepares to host the upcoming G20 summit later this week, which will convene leaders from the world’s largest economies.

This marks the second meeting between Modi and Huang, highlighting Nvidia’s integral role in India’s rapidly growing technology sector.

Nvidia’s Growing Presence In India

Nvidia has maintained a strong presence in India since 2004 when it established its operations in Bangalore. The chip manufacturing conglomerate boasts four engineering development centers across Gurugram, Hyderabad, Pune, and Bengaluru, with over 3,800 employees in the country.

Moreover, the Nvidia developer program has attracted over 320,000 Indian developers, with the CUDA parallel programming platform being downloaded approximately 40,000 times per month, and an estimated 60,000 experienced CUDA developers in India.

India’s government has been actively expanding its information technology infrastructure, exemplified by the forthcoming compute grid that will connect 20 cities across the nation. This initiative aims to enhance collaboration among researchers and scientists, facilitating the efficient sharing of data and computing resources.

These advancements align with Modi’s ambitious economic goals, including India’s ascent to the world’s third-largest economy by 2030, from its current status as the fifth largest. Additionally, Modi has set a target of 2047, India’s hundredth anniversary of independence, to join the ranks of developed economies.

Nvidia’s stock recently surged by 19%, reaching a record high above $487 and achieving a market cap of $1.2 trillion. Adding to this momentum, Iris Energy, a Nasdaq-listed Bitcoin mining platform, announced its purchase of 248 NVIDIA H100 GPUs for approximately $10 million on Tuesday.

The company specified that it acquired the GPUs for generative AI purposes, seeing this technology as an additional opportunity.

The company also disclosed robust Q2 2023 financial results, revealing an impressive 101% year-over-year increase in revenue, accompanied by an 854% surge in earnings per diluted share. The increase in company revenue is attributed to heightened demand for its H100 AI infrastructures, particularly from prominent cloud service providers and other developers in the generative AI sector.

As India continues to solidify its presence on the global technology stage, its partnership with Nvidia promises to play a pivotal role in realizing the country’s aspirations in AI and technology-driven sectors.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Victor is a Managing Tech Editor/Writer at Metaverse Post and covers artificial intelligence, crypto, data science, metaverse and cybersecurity within the enterprise realm. He boasts half a decade of media and AI experience working at well-known media outlets such as VentureBeat, DatatechVibe and Analytics India Magazine. Being a Media Mentor at prestigious universities including the Oxford and USC and with a Master's degree in data science and analytics, Victor is deeply committed to staying abreast of emerging trends. He offers readers the latest and most insightful narratives from the Tech and Web3 landscape.

More articles
Victor Dey
Victor Dey

Victor is a Managing Tech Editor/Writer at Metaverse Post and covers artificial intelligence, crypto, data science, metaverse and cybersecurity within the enterprise realm. He boasts half a decade of media and AI experience working at well-known media outlets such as VentureBeat, DatatechVibe and Analytics India Magazine. Being a Media Mentor at prestigious universities including the Oxford and USC and with a Master's degree in data science and analytics, Victor is deeply committed to staying abreast of emerging trends. He offers readers the latest and most insightful narratives from the Tech and Web3 landscape.

Hot Stories
Join Our Newsletter.
Latest News

The Calm Before The Solana Storm: What Charts, Whales, And On-Chain Signals Are Saying Now

Solana has demonstrated strong performance, driven by increasing adoption, institutional interest, and key partnerships, while facing potential ...

Know More

Crypto In April 2025: Key Trends, Shifts, And What Comes Next

In April 2025, the crypto space focused on strengthening core infrastructure, with Ethereum preparing for the Pectra ...

Know More
Read More
Read more
Web3 On-Chain Data Insights: In April, Solana Tops Activity, Ethereum Sees Capital Inflows, Bitcoin Shows Structural Rebound
News Report Technology
Web3 On-Chain Data Insights: In April, Solana Tops Activity, Ethereum Sees Capital Inflows, Bitcoin Shows Structural Rebound
May 9, 2025
Exploring AI Revolution In Web3: Decentralized AI, Data Ownership, And The Road Ahead
Hack Seasons News Report Technology
Exploring AI Revolution In Web3: Decentralized AI, Data Ownership, And The Road Ahead
May 9, 2025
The Future Of AI Agents: Innovation, Challenges, And Opportunities
Hack Seasons News Report Technology
The Future Of AI Agents: Innovation, Challenges, And Opportunities
May 9, 2025
Adidas, Binance, And Coinbase: Major Crypto Partnerships Of May 2025
News Report Technology
Adidas, Binance, And Coinbase: Major Crypto Partnerships Of May 2025
May 9, 2025