Nvidia, the largest manufacturer of next-generation semiconductors or “chips” in the United States and the leading manufacturer of Artificial Intelligence (AI) servers in the North American economy and in the world in general, reported revenues in the 4th quarter in growth of 265%. quarter of 2023 and reached $22.1 billion, an all-time record on Wall Street.
This remarkable success is the direct result of the artificial intelligence boom experienced in the United States. and in the global system, and which includes companies, industries and nations alike.
That’s why its valuation reached $1.7 trillion, it became the third most valuable company on Wall Street after Amazon and Apple, and left Google (Alphabet) behind.
All the big American high-tech companies – Google, Microsoft, Amazon and Facebook – have focused on artificial intelligence in the last 3 years, to the point of generate a new industry of software teams (chatboxes) capable of learning, understanding and creating information completely independentlywhose development is “self-generative”.
This formidable innovation is the form that the fourth industrial revolution has taken, that is, the process of complete digitalization of production and services. Global production slows to its historical destiny of instantaneity, the complete dominion of time over space.
The total global semiconductor or “chip” industry has reached a value of 526.8 billion dollars in 2023, in a market that is expanding at a rate of 13.1% this year and which is clearly at cutting edge in global manufacturing. A very significant fact is that Nvidia sold only 4 billion dollars in 2014, and then multiplied it by ten in the following decade (44 billion dollars in 2023).
It is a remarkable example of a phenomenal boom in demand in all parts of the world at the same time, until it becomes the sign of the times.
Thus, its valuation has increased by more than 40% since January this year on Wall Street, which means that its revenues have tripled in this period and its net profits have grown 9 times. It should be noted that artificial intelligence it is in its initial stage, and that this is the first year of a ten-year cycle, in which artificial intelligence will spread and transform every single sector in the world.
The United States experiences uAn extraordinary productivity boom caused by artificial intelligencewhich has triggered a cycle in which the product will rise by more than 7 points in the next 10 years.
According to Goldman Sachs, the American economy has had an increase of +0.25/+0.50 percentage points in the last 3 years, directly attributable to artificial intelligence and is only a preview of what is to come, the full deployment of 4th industrial revolution. That is, the complete digitalization of the global production system.
The exceptional strength of the North American economy, the first in the world (US$26.6 trillion / 25% of global GDP)it is the expression of a structural, qualitative and cumulative change, which has nothing cyclical or temporary and which is, this is notable, only in its initial phase.
We must add a fundamental strategic fact, namely that over 70% of North American investments are made in “intangible capital” (patents, trademarks, knowledge) and not in physical capital. This explains the extraordinary strength of American innovation, which is first in the world together with China.
The United States “is the country in the world where the future arrives first”, warned Alexis de Tocqueville in his book-report on “Democracy in America” of 1837.
The consequence is that there is simultaneously a widespread collapse of the status quo everywhere, and more than 2/3 of American jobs would be automated within a decade.
The future, in short, has arrived and is already here but, like all the great revolutions of capitalist accumulation, it has an immensely disruptive character that resembles an authentic rsocial evolution of a new kind, where the fundamental factor is no longer capital but knowledge, and above all the growth of human capital. The uncertainty of the contemporary world is therefore exceptional, because the past is behind us and the magnificently new is just beginning to reveal itself.
This is certainly not the end of the world, but quite the opposite: the beginning of a historical phase in which everything that is synonymous with decadence and darkness is dead forever.
It is important to ask – this is not a merely speculative exercise – what will happen after the current AI boom is fully deployed, which would occur at this rate approximately in 2035. It can be said that from there the “Middle Ages” of the capitalist system would truly end and the truly “Modern” phase of world history would be inaugurated. That is, a historical process qualitatively different from any other that occurred in the past.
Source: Clarin
