In this video, I will be talking about Nvidia (NVDA 3.65%) and the recent announcements it made during the GTC event with regard to Omniverse. You can find the video below, but here are some of the highlights.
- Omniverse can be seen as a virtual playground where you can train robots to do a specific job in the real world. According to CEO Jensen Huang, this is going to be one of the largest graphics opportunities the company has ever seen.
- Omniverse is a subscription product, which will result in a predictive revenue stream in the years to come.
- According to IDC, worldwide spending on artificial intelligence will jump from $85.3 billion this year to more than $204 billion by 2025, translating into a compound annual growth rate of more than 24.5%.
- Companies like Pepsico and Amazon use Omniverse to build "digital twins" of their warehouses and create simulations to see how they can best optimize their distribution centers.
- Nvidia and Kroger, the nation's largest grocer, announced a strategic collaboration to reimagine the shopping experience using AI-enabled applications and services.
- Last quarter, the company reported that the professional visualization segment (the segment Omniverse falls under) was up 109% year over year to $643 million, an increase of 11% from the previous quarter. It is the company's fastest-growing segment.
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*Stock prices used were the closing prices of Mar. 28, 2022. The video was published on Mar. 29, 2022.
