Generative AI Sector Draws Nearly $1B in Funding; Nvidia Forecasts $150B in GPU Revenue Amid 60% CAGR and $135B Investment

The generative AI sector is experiencing significant investment and growth, with funding in AI-powered coding approaching $1 billion, indicating its potential as a 'killer app.' Major investors, including Warren Buffett, are making substantial moves in AI stocks, with Buffett reportedly investing $135 billion in a single AI stock. The market is witnessing volatility, with two AI stocks recently declining by 18% and 41%, prompting discussions on whether this is an opportune time for investors to buy. Generative AI spending is projected to increase dramatically, from over $40 billion in 2024 to more than $201 billion by 2028, reflecting a compound annual growth rate (CAGR) of 60%. Technology giant Nvidia is expected to report a significant profit surge due to the rapid adoption of generative AI, with predictions of $150 billion in GPU revenue in Q4 2024. Additionally, the AI chip market is poised for growth, with expectations of doubling sales for Nvidia amid ongoing AI demand.