How five CEOs described the boom of artificial intelligence in 2024

During 2024 CNBC’s Jim Cramer discussed the seemingly limitless rise of artificial intelligence with dozens of CEOs across the tech world. Here’s how five top business leaders described the meteoric rise of AI this year.

1. Nvidia CEO Jensen Huang said the “ramp of AI computing” is just beginning and will continue for years.

   Huang in March painted picture of the AI ​​landscape, saying that investments in new technology remain at the beginning. He predicted years of growth ahead and suggested that artificial intelligence could drive innovation in a variety of fields, including science and healthcare.

   Nvidia is a titan of the AI ​​revolution, as it designs and sells advanced technology critical to technology. The company is a leading supplier of graphics processors used to develop and deploy new AI software such as OpenAI’s ChatGPT. Big Tech is generally looking for Nvidia products, including customers Target, Tesla, Microsoft and Amazon wiping out billions. Nvidia stock is currently up more than 176% year-to-date and sometimes this year surpassed Apple to become the most valuable company on the market.

2. CrowdStrike CEO George Kurtz said cybercriminals are making headway: “It’s going to be the battle of AI in the future.”

   Kurtz in February described as his cyber security firm battles cybercrime that is “more active than ever” as the hacker ranks grow and become more advanced with new AI technology in their arsenals. He said generative artificial intelligence democratizes “very esoteric techniques and attacks,” so that less skilled cybercriminals can still carry out advanced attacks.

   “What we talked about in the earnings call is the ability to create more opponents with lower skill levels, but working at a much higher skill level, using generative AI,” Kurtz said, “Of course, on the security side, we’re leveraging generative AI will help in protecting our customers, so that will be the battle of AI in the future.”

3. Flake CEO Sridhar Ramaswamy said generative AI will keep him “busy for many years to come.”

   Ramaswamy took the reigns at Snowflake in February, and he described how the data analysis software maker plans to use new AI technology.

   “We have such an ambition to do more, whether it’s apps that run on Snowflake or, of course, using the power of generative artificial intelligence, which I’ve been focused on for the past year, to democratize access to enterprise data, so that even more people can quickly to get at the data to get value out of it,” Ramaswamy said. “So I think there’s a huge opportunity in the world of data applications and artificial intelligence that will keep me busy for many years to come.”

   Snowflake collaborated with Nvidia, and in May Ramaswamy teased a new project with dear AI. According to him, Snowflake’s product program, “especially in artificial intelligence, was in full gear.”

4. AMD CEO Lisa Su described the competition with Nvidia: “There is no one size fits all in computing.”

   Although Nvidia is the leader in the red-hot semiconductor design industry, competition is fierce, with companies like AMD and Intel competing for customers willing to pay top dollar. But in September, when asked about competition with Nvidia, Su suggested there is room for more than one major player in the sector. According to her, the “technology ecosystem” works properly when there is competition and partnership, and customers want the ability to choose between several solid options.

   “The way we think about it is that there is no one size fits all in computing,” Su said. “There’s not, you know, just one architecture. In fact, you’re going to need the right compute for every application.”

   Su said she believes “AI will affect everyone’s lives” and that the world is just beginning to understand what the new technology can do. She also said that people should not be impatient about the impact of artificial intelligence because “technology trends develop over years, not months.”

5. General CEO Aaron Jagdfeld The CEO said the pressure on the power grid is “only going to get worse” because of time and technology.

   Jagdgeld warned that the pressure on the power grid will only increase as demand for data centers and other AI-related technology continues to grow. 40% of the generator company’s business comes from commercial and industrial-type products, he said, such as backups for manufacturing plants, distribution centers, hospitals and data centers.

   “This has become a very critical point of discussion,” Jagdfeld said. “This is only going to get worse.”

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Waiver The CNBC Investing Club Charitable Trust holds shares of Nvidia, AMD and CrowdStrike.