12:49 PM EDT, 03/18/2024 (MT Newswires) -- Nvidia's ( NVDA ) GTC this week will showcase the next stage of the artificial intelligence revolution with various products, use cases and partnerships, Wedbush Securities said in a note.

"We estimate a $1 trillion+ of AI spending will take place over the next decade as the enterprise and consumer use cases proliferate globally in this 4th Industrial Revolution," analysts led by Daniel Ives wrote.

Wedbush believes AI could take up 8% to 10% of information technology budgets in 2024, up from less than 1% in 2023.

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