Nvidia (NVDA), a graphics-chip company, unveiled its metaverse vision on Tuesday, along with improvements in self-driving cars, supercomputing, and artificial intelligence. The shares of NVDA increased as a result of the announcement.
Nvidia Stock Climbs
Conversational AI assistants can be used with the Omniverse avatars. Nvidia’s technologies in speech AI, computer vision, natural language understanding, recommendation engines. Additionally simulation technologies are all connected via this technology.
AI avatars, according to Huang, will be employed for customer support interactions. They may accept restaurant orders, process bank transactions, schedule personal meetings and reservations, and much more.
NVDA shares rose 2% in morning stock market trade today, closing at 314.20. Nvidia stock hit a new high of 323.03 earlier in the day.
Technology To Create 3D Worlds
Huang also showed off the NVDA Omniverse Replicator, a data-generation engine that creates physically simulated synthetic data for deep neural network training. Huang showed how the method can be used to teach autonomous vehicles and manipulation robots.
“We now have the technology to create new 3D worlds or model our physical world,” Huang remarked, referring to Omniverse.
He announced intentions to develop E-2, or Earth Two, a “digital twin” of the Earth to model and predict climate change.
“In terms of virtual world dynamics, Nvidia is so far ahead of any chip maker that it’s not even close,” Rosenblatt Securities analyst Hans Mosesmann wrote in a note to investors on Tuesday. He kept his buy recommendation on Nvidia and boosted his price objective from 300 to 400.
NVDA Stock On Several IBD Watchlists
Nvidia also unveiled Nvidia Quantum-2, a next-generation networking solution for cloud computing providers and supercomputing facilities.
Nvidia also announced that Lotus, WM Motor, and QCraft, a provider of autonomous driving solutions, have joined the list of firms who use its Nvidia Drive Hyperion system for autonomous driving.
Several IBD watchlists include Nvidia. It’s on the IBD 50, Big Cap 20 and Sector Leaders lists, as well as the IBD Leaderboard.
According to IBD MarketSmith charts, Nvidia stock broke out of a six-week consolidation pattern on Oct. 22 at a purchase mark of 230.53. It triggered the eight-week hold rule on Thursday, which is an exception to taking profits after a gain of 20% to 25% after a breakthrough based on IBD trading principles.
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