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The deeper partnership will mean that the chipmaker will expand global access to its graphics processing units and AI software with Stripe.
Finance platform Stripe has announced deepening ties to chipmaker Nvidia to boost its AI offering and improve fraud detection for customers.
The collaboration announced yesterday (9 October) means that Nvidia will expand global access to its graphics processing units and AI software by enabling developers and enterprises to prepay for select cloud services with Stripe.
Stripe’s co-founder and CEO Patrick Collison said Nvidia is a company the Stripe team most admires. “As the folks at Nvidia know well, the current pace of change means there’s enormous untapped potential to improve global access to cutting-edge AI technology,” he said.
“At Stripe, we’ve been busy building a bunch of functionality that’s useful for AI products generally, including usage-based billing to handle inference costs, Link for higher converting checkouts and support for a lot more local payment methods since these products are typically global from day one.”
Jensen Huang, founder and CEO of Nvidia, said: “Stripe was an early pioneer of Nvidia’s AI platform and, now, is an industry leader enabling businesses worldwide to use AI to develop new engines for growth.”
The Irish-founded company, which is dually headquartered in Dublin and San Francisco, has relied on Nvidia’s computing platform to train its machine learning models for much of its history.
Earlier this year, Stripe announced a host of AI upgrades including to Stripe Radar, its fraud prevention service, which now has an AI-powered assistant that allows businesses to use natural language prompts to describe new fraud rules they’d like to set.
At the time, Collison said the company is well positioned to “put AI to work to drive growth”.
In July of this year, the payments company was valued at around $70bn when venture capital firm Sequoia Capital offered to buy shares from the fintech’s investors.
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