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Working with Indian government, companies to build sovereign AI infra: Nvidia Earnings Call

“…we are working with India’s government and largest tech companies including Infosys, Reliance and Tata to boost their sovereign AI infrastructure,” CFO Kress said during the call.

“Many countries are awakening to the need to invest in sovereign AI infrastructure to support economic growth and industrial innovation. With investments in domestic compute capacity, nations can use their own data to train LLMs and support their local generative AI ecosystems. For example, we are working with India’s government and largest tech companies including Infosys, Reliance and Tata to boost their sovereign AI infrastructure,” Colette Kress, Chief Financial Officer at Nvidia, said during the company’s earnings call on November 21.

Sovereign AI infrastructure refers to the idea of an autonomous and self-contained artificial intelligence (AI) ecosystem. Such infrastructure is coming up in countries like India, Sweden, Japan, and France that recognise that they should use their data to develop their own AI, Nvidia CEO Jensen Huang said during the earnings call.

“People realize that they can’t afford to export their country’s knowledge, their country’s culture, for somebody else to then resell AI back to them. […] The first thing that they have to do is create their national AI cloud.” — Nvidia CEO Jensen Huang

Nvidia’s Q3 2024 financials 

Nvidia reported another stellar quarter with the company making $18.12 billion in revenue for the third quarter of the fiscal year 2024, a 206 per cent jump from the same period last year, and a profit of $9.24 billion, up 1,259 percent from last year.

The company’s extraordinary success in recent years comes from the AI boom and the increased demand for Nvidia’s AI chips, which are currently the most sought-after AI chips in the market.

Nvidia, however, cautioned that the new US export restrictions on China could impact the company’s revenue in the next quarter, although increased demand from other regions is expected to make up for it.

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Additionally, “because national investment in compute capacity is a new economic imperative, serving the sovereign AI infrastructure market represents a multi-billion dollar opportunity over the next few years”, CFO Colette Kress said.

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