Business News Report
May 18, 2023

Nvidia and ServiceNow Join Forces on AI Innovation

In Brief

ServiceNow and Nvidia are Partnership to develop Advanced Generative AI to improve Business Processes.

NVIDIA and ServiceNow have formed a partnership aimed at enhancing business processes through the development of enterprise-grade generative artificial intelligence capabilities.

Nvidia and ServiceNow Join Forces on AI Innovation

As part of the collaboration, ServiceNow plans to leverage NVIDIA‘s AI technology to automate various workflows within its IT help desk, including the automation of service tickets and other tasks. The generative AI will be tailored to individual enterprises, utilizing company-specific information.

The announcement of the partnership has had a positive impact on the stock prices of both companies. ServiceNow’s stock rose by 3.3% to reach $301.78, while NVIDIA’s stock surged by 5.3% to $492.92. ServiceNow also revealed its intention to initiate a stock buyback program of up to $1.5 billion.

This collaboration is part of NVIDIA’s ongoing efforts to advance AI capabilities, and the company has been making regular announcements in this field. The stock price of NVIDIA has seen a significant increase of 106.5% this year, while ServiceNow’s stock has risen by 27%.

ServiceNow and NVIDIA aim to explore various use cases for generative AI to enhance productivity across different areas of the enterprise. This includes the development of intelligent virtual assistants and purpose-built AI chatbots to provide efficient support and resolve user queries.

About AI technology

The rise of AI has led to increased investments in tech stocks, benefiting companies such as Adobe, AMD, Google, and Microsoft. Additionally, ServiceNow and NVIDIA have also made advancements in the finance and supply chain sectors. While Southeast Asia Internet firm Sea Limited faced a setback after missing quarterly targets and reducing spending, Lam Research managed to surpass its buy point despite a decline in chip spending.

Experts predict that the PC market will experience a recovery in 2018, with stocks displaying strong patterns emerging as leaders. MarketSmith’s pattern recognition and custom screens can help identify winning stocks in such market conditions.

  • NVIDIA announced a new initiative to offer AI as a service through partnerships with cloud service providers. This new service will provide enterprise customers access the company’s cutting-edge AI platform.

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About The Author

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

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Nik Asti
Nik Asti

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

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