Chip company Nvidia is setting up a new business unit to develop tailor-made chips. These chips are intended for cloud computing companies but also other areas, such as advanced processors for artificial intelligence (AI) Nvidia currently controls about 80 percent of the market for high-end AI chips.
Market for custom data center chips will grow to $10 billion this year and double by 2025. The broader custom chip market was worth about $30 billion in 2023, or about five percent of annual global chip sales.