INDIA: Prime Minister Narendra Modi recently engaged in a highly productive meeting with Jensen Huang, the CEO of NVIDIA, a leading American semiconductor powerhouse.
The encounter, which delved into the promising prospects of Artificial Intelligence (AI) in India, has ignited speculation about NVIDIA’s potential investment in a manufacturing plant on Indian soil.
Taking to social media to share the news, Prime Minister Modi posted pictures of their discussion. He went on to mention Huang’s appreciation for India’s strides in AI and its talented youth.
The meeting has raised eyebrows in the tech world, with industry experts suggesting that NVIDIA might be contemplating establishing a manufacturing facility in India.
While NVIDIA does not manufacture its semiconductors, it designs GPU dies and oversees the manufacturing process, which is often carried out by semiconductor manufacturers like TSMC.
This development aligns with India’s emphasis on self-sufficiency, encouraging tech companies to produce components and devices within the country.
India’s abundant pool of AI talent and numerous AI-focused software development studios further bolster its appeal to NVIDIA. The company first ventured into India in 2004, with a base in Bangalore, and currently operates engineering development centres in Gurugram, Hyderabad, Pune, and Bengaluru. These centres employ over 3,800 professionals, while over 320,000 Indian developers participate in NVIDIA’s developer program.
NVIDIA’s CUDA parallel programming platform enjoys widespread popularity in India, with approximately 40,000 monthly downloads and an estimated 60,000 experienced CUDA developers in the country.
Financially, NVIDIA has been thriving, reporting impressive revenue of $13.51 billion for Q2 2023, a 101% increase from the previous year. The earnings per diluted share for the same quarter were $2.48, marking an astounding 854% increase from the previous year.
This high-profile meeting marks the second encounter between Modi and Huang, underscoring NVIDIA’s significant role in India’s burgeoning technology landscape.
The timing is noteworthy, occurring just a week after India’s historic lunar landing and showcasing the nation’s expanding technological capabilities.
Following the Modi meeting, Jensen Huang had the opportunity to connect with researchers from renowned Indian institutions in science and technology during an informal dinner, further solidifying NVIDIA’s presence and collaboration potential in India’s rapidly evolving tech industry.