NVDA stock moved higher on November 4, 2021, on speculation it will be a key player in the new metaverse being rolled out by big tech.
NVDA Stock Rising On Metaverse Expansion Strategy
Nvidia is expected to launch the general availability of Omniverse Enterprise next week at GTC 2021. Nvidia Omniverse will be a key enabler/platform for the development of the Metaverse across a wide range of vertical apps, including industrial, manufacturing, design and engineering, autonomous vehicles/robotics, and more. Nvidia Omniverse Enterprise represents a significant platform expansion strategy for the company, which also entails a deepening recurring software story.
Omniverse is an open virtual platform that allows creators to collaborate in real-time physically accurate simulations/3D renderings. Nvidia more succinctly described it as a “platform for connecting 3D worlds in a shared virtual universe.” The key technology powering Omniverse is Nucleus – a database engine that allows client applications to share and modify 3D assets and scene descriptions. Nucleus is based on Pixar’s open Universal Scene Description technology, which provides a common language for defining digital assets. Rakers pointed out that Nvidia released an open beta of Omniverse in December 2020, and announced coming general availability of Omniverse Enterprise in April 2021. Omniverse Enterprise subscription starts at $9,000 per year for a workgroup of two creators, 10 reviewers, and 4 Nucleus subscriptions.
VIDEO Fmr. Google CEO: The promise of the metaverse is ‘very powerful’
Former Google chairman and CEO Eric Schmidt joins ‘Squawk Box’ to discuss the future of artificial intelligence and Mark Zuckerberg’s metaverse.
NVDA Stock Technical Analysis
Large players volume looks beautiful and although NVDA has an excellent technical rating, it does not offer a high quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when NVDA stock is a good entry.