Well, don't, for another potential 50 to 100x opportunity is staring us right in the face, and it's called artificial intelligence, which was undoubtedly the big catalyst for the 2023 tech boom in the stock world. We now have the biggest companies like Meta, Amazon, Google, all investing billions and billions of dollars to come up with the best AI models out there.
The AI craze even made chipmaker Nvidia become a household name because of its astonishing growth. It had a 239% growth in 2023 alone, and the company had more than a $360 billion market cap in 2022, but that actually ballooned up to more than a trillion in 2023, now sitting at more than two freaking trillion dollars. This tech company is almost as big as all of crypto combined. And here's the big AI secret for investors:
You don't have to be a developer and actually go out and use AI to create some kind of new paradigm or whatever in order to be able to participate in the growth of the sector. This sector is actually expected to contribute up to 15 trillion dollars to the global economy by 2030. So let us check just how big the AI sector is going to get. By now, anybody who has access to the internet probably knows what ChatGPT is. But did you know that this AI large language model reached a million users in just five days?
Facebook, by contrast, reached that same number. It took 10 months, by the way. A large language model, or LLM, is just fancy talk for an AI that can understand and generate human language. And currently, OpenAI's AI has over a hundred eighty million users, a great feat for a dual that's only just been released a little over a year ago. Nowadays, of course, it's not just AIs that can talk to us that are being rolled out. We also now have all kinds of exciting stuff.
Generative AI that can create videos and images. Sora AI, for example, absolutely blew everyone away last month with this insane text-to-AI video. And all the videos I've rolled out since have people playing around with it. It's mind-blowing stuff. The question is, AI just hype and we're overplaying its potential, or will this really be the new narrative of change and will change everything about how we do things? Well, let's look at the numbers and some projections.
Let's take a look at a few of the interesting ones. Business consulting firm Grand View Research says that the AI market is currently worth almost $200 billion in 2023, and it's expected to grow at a compound annual growth rate, or CAGR, of 37.3% until 2030. Now, for comparison, Apple's CAGR is 10% in the last 12 months and around 12% in the last 3 years. And of course, AI is not just confined to those LLMs that we can talk to. One of the things that will probably really improve a lot of our standard of living is having an artificial intelligence drive our car and drive us around.
The autonomous vehicle market is expected to reach 2.3 trillion by 2030. What is more interesting is that the whole industry is expected to grow to almost $4 trillion by 2030, so half of it will belong to AI cars. AI in the medical industry is projected to grow to 188 billion by 2030.
Well, AI in the banking sector could reach 15.32%. Refirm published a report and it's predicting that the top 2,000 public companies in the world will be allocating over 40% of their core IT spending on artificial intelligence projects. Sam Altman, the CEO of OpenAI, the creator of ChatGPT, has been going around, by the way, trying to raise a $7 trillion for a new AI chip project. Just 7 trillion dollars.
All the AI model units that we've been using like ChatGPT and DOLLY and Gemini, etc. All these guys, they run on specialized chips to run. They need powerful graphic processing units or GPUs. The problem is that they're in very high demand but in very short supply. These same chips are also used in a lot of other industries: gaming, cryptocurrency mining, cloud computing. Aside from the short supply, they're also very expensive. To get one of these GPUs. These numbers and projections, they show us that AI is here to stay. It's getting bigger all the time. It's projected to get dramatically bigger. Of course, not all of us can be AI developers nor have the money to invest in some big AI business. However, there is still a lot of money to be made from the AI world. According to CoinGecko, AI crypto tokens have a combined market cap of almost $25 billion and a daily trading volume of around 5 billion.
AI tokens, though it might sound like a big number, AI tokens are actually less than 1% of all crypto combined. And keep in mind that all of AI is expected to hit 15 trillion by 2030. Crypto could hit well over 10 trillion by that point. AI crypto is a baby. We've been saying this a lot of times. If you want something with lesser risk, obviously, Bitcoin, Ethereum, you're probably going to be set on your crypto bags. But if you've got a higher risk tolerance, you want bigger gains with that higher risk, then it's the smaller market cap coins they're going to bring home that kaching kaching.
These tokens with smaller market caps are the ones that could potentially give those 20x or even more kind of gains throughout the market cycle. The AI crypto sector taken as a whole is actually even smaller than the meme coins. We've seen how crazy the pumps are in the meme coin sector. Meme coins, though, are much bigger than AI. Meme coins have roughly $60 billion of market cap. And just look how crazy it's all been. Now, 100x is the usual pump it feels like for some of these dog coins and frog coins and chicken coins and whatever else kind of crap is out there. But they lack those fundamentals beyond just being fun cultural coins.
Now, we already discussed that GPUs are very important in AI projects. It's kind of the core thing that they need, one of the core things they need. This is the exact reason why the stocks of companies like Nvidia and other chipmakers have basically gone to the moon over the last year. Most people can't buy and maintain a single specialized AIG GPU unit, let alone a whole warehouse full of them. However, Render's got a solution to that. In the simplest terms, Render provides GPU on demand. It connects node operators who are willing to rent out their idle GPU computing power through a decentralized peer-to-peer network.
It's like the Uber of GPU. So instead of cars, you're Ubering out your computing power. Cool idea. Been around crypto for a while, but Render is really iterating on big time. So instead of money, transactions are settled in Render tokens. Now, Render currently has a market cap of around $4 billion. Not bad, since it only had about half a billion market cap just a year ago. It's like an 800% increase. You can tell AI coins are pretty damn popular. Remember, Nvidia had a 239% growth in 2023. AI is going on to mint a lot of millionaires.
You just have to do your research, take a few well-thought-out, obviously, risks, and find some interesting investments, because there's a lot of interesting investments out there, right? Don't mid-curve it. AI is going to be massive. It's one of the biggest investing opportunities in the world right now, and I think it's going to stay that way for probably the next few decades.
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