Top 10 AI Chip Makers of 2024: In-depth Guide

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Which are the leading AI chip producers?

Nvidia (NVDA)
Nvidia has been a cornerstone in the GPU market since the 1990s, powering graphics for gaming consoles like PlayStation and Xbox. However, Nvidia’s dominance extends beyond gaming into AI with their Volta, Xavier, and Tesla chips. In 2023, Nvidia achieved a trillion-dollar valuation, further cementing its status in the AI hardware sector.

Nvidia’s AI chip offerings, such as the DGX™ A100 and H100, are designed for high-performance AI training and inference in data centers. Newer models like the H200, B200, and GB200, along with advanced HGX servers, demonstrate Nvidia’s continued innovation. The company also has a significant presence in the cloud GPU market, partnering with major cloud providers and offering DGX Cloud for enterprise GPU infrastructure.

Advanced Micro Devices (AMD)
AMD has made significant strides in the AI chip market with products like the Alveo U50 data center accelerator card, featuring 50 billion transistors. AMD’s MI300, launched in June 2023, positions the company as a strong competitor to Nvidia, particularly as Nvidia’s hardware has faced supply constraints due to high demand.

AMD collaborates with machine learning platforms like Hugging Face to optimize their hardware for data scientists. Benchmarking disputes between AMD and Nvidia over models like the H100 and MI300 highlight the competitive landscape, with AMD’s MI300 showing promising results for large language model (LLM) inference.

Intel (INTC)
Intel, a giant in the CPU market, has also ventured into AI with its Xeon CPUs and Gaudi3 AI accelerator processor, released in April 2024. Intel’s Xeon processors are widely used in data centers, supporting various computational tasks. Gaudi3, despite being new, is expected to drive Intel’s AI capabilities forward.

Which public cloud providers produce AI chips?

Alphabet / Google Cloud Platform (GOOG)
Google Cloud offers its Tensor Processing Units (TPUs), purpose-built for machine learning applications. The latest TPU, Trillium, is the 6th generation in the line. Google’s Edge TPU caters to smaller devices like smartphones and IoT gadgets, reflecting Google’s diverse AI chip strategy.

AWS has developed Tranium and Inferentia chips for AI training and inference, respectively. AWS’s entry into the AI chip market followed Google’s, but it has rapidly become a key player, leveraging its dominant position in the cloud services market.

IBM’s AI chip development includes the AIU, introduced in 2022, and based on the Telum Processor, which powers IBM Z mainframe servers. IBM’s AIU is integral to its Watson.x generative AI platform, aiming to enhance applications like fraud detection.

Alibaba (BABA)
Alibaba’s AI chip, the Hanguang 800, is designed for inference tasks. However, geopolitical factors may deter some organizations from using Alibaba Cloud, despite its technical capabilities.

Who are the leading AI chip startups?

SambaNova Systems (Pre-IPO)
Founded in 2017, SambaNova Systems focuses on high-performance AI hardware and software solutions, like the SN40L chip. The company has raised over $1.1 billion and offers AI platforms as a service, promoting hardware reuse and sustainability.

Cerebras Systems (Pre-IPO)
Cerebras Systems, established in 2015, is known for its WSE-2 chip, which boasts 850,000 cores and 2.6 trillion transistors. This chip is pivotal in accelerating genetic and genomic research, aiding pharmaceutical giants like AstraZeneca and GlaxoSmithKline.

Groq (Pre-IPO)
Founded by former Google engineers, Groq has introduced new AI chip architectures, such as the GroqChip™ Processor. The company focuses on large language model inference and has seen significant adoption, with 70,000 developers building applications on its platform by Q1 2024.

What are upcoming AI hardware producers?

Emerging AI hardware producers include major tech companies and innovative startups:

Apple (AAPL): Apple’s project ACDC is focused on AI inference chips, leveraging its experience in chip design for consumer electronics.

Meta (META): Meta’s MTIA processors are designed for internal AI workloads, with the latest version promising significant performance improvements.

Microsoft (MSFT) Azure: Microsoft launched its Maia AI Accelerator in November 2023, expanding its AI hardware capabilities.

Rebellions (Pre-IPO): This Korean startup, focused on LLM inference, raised $124 million in 2024, indicating strong investor interest.

What are other AI chip producers?

Graphcore (Pre-IPO)
Graphcore, a British AI chip company, introduced the IPU-POD256. Despite facing financial challenges, Graphcore maintains strategic partnerships with data storage companies and academic institutions, underlining its potential in the AI chip market.

Mythic (Pre-IPO)
Mythic focuses on power-efficient edge AI computing using analog compute architecture. The company restructured in 2023 to continue its innovation in products like the M1076 AMP.

In conclusion, the AI chip market in 2024 is marked by intense competition and rapid innovation, driven by established tech giants and ambitious startups alike. Companies must carefully evaluate their needs and choose the right AI chip vendors to stay ahead in the evolving AI landscape.


by Steve Macalbry

Senior Editor,


Disclaimer: This article is intended for informational purposes only. It should not be considered financial or investment advice. We do not hold any form of equity in the securities mentioned in this article. Always consult with a certified financial professional before making any financial decisions. Growth stocks carry a high degree of risk, and you could lose your entire investment.



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