Wall Street forecasts Nvidia revenue will more than double over the next five years to near $60 billion and operating profits will more than triple. Citi forecasts the growth of the metaverse alone could add $10 billion to its total addressable market in the coming years. It says its Omniverse Replicator is a synthetic-data-generation engine that produces physically simulated synthetic data for training deep neural networks.Īnalysts at Citi declared Nvidia the "secular winner" in metaverse technology and picked the chipmaker as the top stock pick for 2022. Its Omniverse Avatar platform generates interactive avatars using AI, computer vision, natural language understanding, recommendation engines, and simulation technologies. Best known for its gaming GPUs that make processing-intensive video games possible, the chipmaker has its finger in artificial intelligence (AI), data centers, and automobiles and is extending its reach into healthcare, networking, and arguably most exciting, the metaverse.Ī virtual world where people can interact with one another or even conduct business, the metaverse became one of the most talked-about terms most people never heard of before Facebook changed its corporate name to Meta Platforms last year.
Nvidia is doing well now because virtually all of its segments are performing well. Even though Bitcoin has lost nearly a third of its value in the past month, its price of $43,000 is still 16% above where it was a year ago. There also seems to be little worry about crypto these days as there are nearly 17,000 cryptos on the market, which is worth more than $2 trillion. In addition, data center revenue surged 55% to also hit a record of $2.9 billion. Graphics processing units (GPUs) for gaming generated 45% of third-quarter total revenue, hitting a record $3.2 billion, a 42% gain over the year-ago period.
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