Irish-founded fintech Stripe is to deepen its partnership with chip company Nvidia to help the payment company’s customers better utilise artificial intelligence and help improve fraud detection.
The deal will see Stripe and Nvidia expand global access to Nvidia’s chips and AI software, enabling developers and enterprises to prepay for select Nvidia cloud services.
“Nvidia is one of the companies we most admire: they set the standard for innovation, long-term time horizons and speed. We’re excited to deepen our long-standing partnership,” said Patrick Collison, Stripe chief executive and cofounder.
“As the folks at Nvidia know well, the current pace of change means there is enormous untapped potential to improve global access to cutting-edge AI technology.”
Stripe has also used Nvidia’s technology to train its machine learning models and power services such as its fraud detection product, Stripe Radar. Its optimised checkout suite uses AI to determine what payment methods should be shown to customers.
“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. Stripe Billing, in particular, has seen major uptake by AI companies,” Mr Collison said.
Stripe’s long-standing relationship with Nvidia also enables engineers to develop on Nvidia tensor core GPUs and iterate on Stripe’s environment for training AI models without operating them on their own infrastructure.
“AI is advancing at an incredible pace, with enterprises worldwide racing to incorporate its value into their everyday business operations,” said Jensen Huang, founder and chief executive of Nvidia. “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.”
In April, Mr Huang joined Collison for a fireside chat at Stripe’s annual user conference. Their conversation covered a range of topics, including the challenges and opportunities of leading high-growth organisations, the evolution of generative AI, and Nvidia’s leadership in, as Mr Huang described it, AI’s “new industrial revolution”.
- Sign up for the Business Today newsletter and get the latest business news and commentary in your inbox every weekday morning
- Opt in to Business push alerts and have the best news, analysis and comment delivered directly to your phone
- Join The Irish Times on WhatsApp and stay up to date
- Our Inside Business podcast is published weekly – Find the latest episode here
