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<ul class="summary-list"><li><keyword id="11897493" type="UNKNOWN" weightage="60" keywordseo="nvidia" source="Orion">Nvidia</keyword> stock extended its two-day rally Friday, a day after Wells Fargo raised its price target.</li><li>The investment firm cited massive growth potential for the chipmaker related to the <keyword id="11121339" type="UNKNOWN" weightage="60" keywordseo="metaverse" source="Orion">metaverse</keyword>.</li><li>Wells Fargo reiterated its overweight rating and hiked its price target by 30% to $320 from $245.</li></ul><a href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia stock</a> extended its two-day rally Friday, after Wells Fargo touted massive metaverse-related growth potential for the chipmaker and raised its price target.On Thursday, analysts at the San Francisco-based financial firm reiterated an overweight rating for Nvidia and hiked their price target by 30% to $320 from $245.Nvidia's stock price rallied 12% to a record high on Thursday, rising for the sixth straight session to mark the chipmaker's longest winning streak since June. Shares climbed 4% to $309.99 as of 11:19 a.m. ET Friday, extending gains to around 17% from Wednesday's close. They are up nearly 130% year-to-date.Nvidia was also the top trending stock on Reddit's WallStreet Bets forum with 979 mentions in the past 24 hours, according to data by <a href="https://www.quiverquant.com/wallstreetbets/">Quiver Quant</a>. <a href="https://markets.businessinsider.com/stocks/pton-stock">Peloton</a> followed at 562 mentions and <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> at 487.Wells Fargo said it is bullish on the company's <keyword id="12476044" type="UNKNOWN" weightage="60" keywordseo="omniverse" source="Orion">Omniverse</keyword> virtual platform, which is set to launch next week. According to Nvidia's <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.nvidia.com%2Fen-us%2Fomniverse%2F">website</a>, it's built for virtual collaboration and real-time physically accurate simulation."We see Nvidia Omniverse as a key enabler/platform for the development of the metaverse across a wide range of vertical apps - industrial, manufacturing, design &amp; engineering, autonomous vehicles/robotics, etc," Wells Fargo said in its Thursday note led by senior equity analyst Aaron Rakers.The new enterprise represents a significant platform expansion strategy for Nvidia, the analysts said, and presents a "halo effect to the company's product portfolio." Subscriptions to Omniverse start at $9,000 a year, the analysts added."Long term, we think the market opportunity could be even greater as digital assets and digital twins become significant economic drivers," they said.The analysts also see the metaverse equating to a $10 billion incremental market opportunity for Nvidia over the next five years and view Omniverse as a "key pillar of future growth" for both its artificial intelligence and high-performance computing strategies. The word <a href="https://www.businessinsider.com/what-is-metaverse-facebook-mark-zuckerberg-roblox-animal-crossing-2021-8">metaverse</a> refers to a future version of the internet that users can access using technology like virtual and augmented reality headsets, as <a href="https://www.businessinsider.com/facebook-metaverse-meta-facial-recognition-zuckerberg-2021-11">Insider</a> recently reported. Tech giants such as <keyword id="11892960" type="UNKNOWN" weightage="60" keywordseo="facebook" source="Orion">Facebook</keyword> - now known as <a href="https://markets.businessinsider.com/stocks/fb-stock">Meta</a> - and <a href="https://www.bloomberg.com/news/articles/2021-11-02/microsoft-s-own-metaverse-is-coming-and-it-will-have-powerpoint">Microsoft</a> have both announced separate initiatives to dive into this budding field.

Nvidia extends 2-day jump to 17% as Wells Fargo raises price target and investors cheer chip maker's metaverse ambitions

<ul class="summary-list"><li>Nvidia's Rev Lebaredian leads simulation and omniverse efforts for robotics development.</li><li>Lebaredian's career parallels Nvidia's evolution from graphics to AI and robotics.</li></ul>The year <a target="_blank" class="" href="https://www.businessinsider.com/jensen-huang-nvidia-robots-huamanoid-self-driving-cars-2024-9">Nvidia</a> was founded, the World Wide Web came online, and "Jurassic Park" was released in theaters. The 1993 smash-hit film opened the floodgates for computer graphics in movies, and soon, Rev Lebaredian got into the movie business. He was instrumental in building the technology that brought to life the fictional gorilla Mighty Joe Young and made the children's classic Stuart Little lifelike. Today, he works in three dimensions for the biggest name in artificial intelligence.Lebaredian is vice president of omniverse and simulation technology at Nvidia, <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-power-players-leaders-ai-chip-giant-success-2024-7">reporting directly to CEO Jensen Huang</a>. Put simply, Lebaredian is in charge of building robot brains.Lebaredian explained that if Nvidia wants to enable technology, it essentially has to build it first, but that doesn't mean it'll sell everything it builds. Nvidia's most recent LLM, NVLM <a target="_blank" class="" href="https://research.nvidia.com/labs/adlr/NVLM-1/">released in September</a>, for example, is extremely competitive in performance benchmarks. But it's licensed for research purposes only and not for commercial use.Lebaredian's career trajectory parallels the company's. Graphics technology eventually morphed into simulations for self-driving cars and, for the last seven or so years, robots.The technologies, it turns out, <a target="_blank" class="" href="https://www.businessinsider.com/jensen-huang-nvidia-robots-huam">aren't that different</a> in the age of modern machine learning. "AI is essentially bridging this computing to physical world divide, and that essentially is robotics," Lebaredian told Business Insider.The Nvidia veteran is building a virtual world faithful to the real world so that robots can use it to practice tasks and learn. Simulations and Nvidia's artificial environment, "Omniverse," are key in developing thinking, perceiving, safe, and productive robots. Yet, the stakes are higher than in the movies."The key here is that the simulation that we use has to match the real world as closely as possible so that what it learns inside that virtual world is transferable to the real world. If it learns inside a cartoon world with cartoon physics, it's not going to behave properly when it gets into the real world," he said. Simulations allow billions of repetitions and lots of mistakes in a safe environment where no humans, robots, or property is harmed.<h2 id="bcc92923-3766-4054-ad09-c5bbb0b33eb6">Embracing ambiguity</h2>Nvidia has a habit of seeing colossal tech trends coming early, building a suite of tools, and waiting for the rest of the world to show up. That's how Lebaredian described what happened with large language models over the last decade."We built all these computers. Nobody was asking for it, and everybody was skeptical. Then we went and trained the world's largest model at the time," Lebaredian said. The model was called Megatron and Nvidia rolled it out in 2021."There's a direct line from Megatron, to GPT," he said. The release of ChatGPT spurred the current boom in generative AI. The company is looking to replicate that formula, this time for robots."I've been working on a simulation for robotics in anticipation that the technology to create a proper robot brain was eventually going to come," Lebaredian said. Generative AI was that moment. But robotics hasn't had its ChatGPT moment yet. The robotic equivalent of Megatron is called Project Groot, a foundation model for robotics, which the company announced in March. It won't be commercial either, according to Lebaredian. The goal, he said, is for others to rush in as soon as possible and build on top of what Nvidia offers.Though bringing the physical world into generative AI raises the bar far beyond language generation, and <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-praises-tesla-ai-optimus-robot-remote-control-concerns-2024-10">skepticism</a> is to be expected, Lebaredian said Nvidia is essentially following a tested playbook."I watched Jensen make these kinds of bets that are far-reaching, where there's a lot of ambiguity as to when it's going to happen or not, and just kind of navigate — believing on first principles that it's going to get there. We're not quite sure where it is, but when it does happen, we want to be there," Lebaredian said. "So we invest as much as we can without us dying in the process for that period of time so that we're ready."Got a tip or an insight to share? Contact BI's senior reporter Emma Cosgrove at <a target="_blank" href="mailto:ecosgrove@businessinsider.com">ecosgrove@businessinsider.com</a> or use the secure messaging app Signal: 443-333-9088.

Nvidia robotics executive tells BI how the company is predicting the future of robotics by building it

<ul class="summary-list"><li>Tesla's Optimus robots faced skepticism for being <a target="_blank" class="" href="https://www.businessinsider.com/tesla-optimus-robots-bartending-controlled-by-humans-2024-10">remotely controlled by humans</a> at a recent event.</li><li>Nvidia's Rev Lebaredian praised the sophisticated AI required to teleoperate Optimus robots.</li></ul>Tesla's Optimus robots received more skepticism last week when multiple reports confirmed that the humanoid robots working the company's "We Robot" event were <a target="_blank" class="" href="https://www.businessinsider.com/tesla-optimus-robots-bartending-controlled-by-humans-2024-10">remotely controlled by engineers.</a> Optimus robots reportedly danced, poured drinks, and interacted with attendees.The realization that the robots were being, to some extent, operated by humans led some analysts and investors to call the display <a target="_blank" class="" href="https://www.businessinsider.com/tesla-optimus-robots-bartending-controlled-by-humans-2024-10">"dishonest" and misleading.</a> Musk's well-known <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-optimus-humanoid-robots-robotaxi-day-2024-10">propensity for hype</a> may have played a part in the reaction.A top robotics executive at <a target="_blank" class="" href="https://www.businessinsider.com/jensen-huang-nvidia-robots-huamanoid-self-driving-cars-2024-9">Nvidia</a> said that in this instance, Optimus deserves more credit than scorn."I don't know how much of it was teleoperated or not, but I have to say, even if it is teleoperated, teleoperating a robot with that kind of control requires really sophisticated AI," Rev Lebaredian, vice president of Omniverse and simulation at Nvidia, told Business Insider.Lebaredian has worked for Nvidia for 23 years and leads the company's Omniverse platform, which is simulation software created so that robots can practice reasoning and take actions without causing damage.Robotics is Nvidia's next <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-jensen-huang-ceo-profile-ai-stock-market-nvda-price-2023-11#:~:text=Huang%20encourages%20employees%20to%20develop,its%20employees%20develop%20new%20products.">"zero billion dollar market"</a>, and the <a target="_blank" class="" href="https://www.businessinsider.com/jensen-huang-nvidia-robots-huamanoid-self-driving-cars-2024-9">company is all in</a>, Lebaredian explained. He acknowledged that all builders in the space have some skepticism to overcome."People should be skeptical. That's natural with any new technology," he said. But there is a real technological achievement in Tesla's presentations so far, according to Lebaredian."Mapping your controls to the robot acting in the real world and interacting with others around — that's a huge, huge advancement, and it's not something that should be downplayed," he continued.Seeing robots interact with humans as freely as the coverage of the event showed is an "amazing advancement" even with some level of remote controlling, that shouldn't be "demeaned," the Nvidia executive said.Both Musk and <a target="_blank" class="" href="https://www.businessinsider.com/jensen-huang-nvidia-robots-huamanoid-self-driving-cars-2024-9">Nvidia CEO Jensen Huang</a>, are focused on humanoid robots as increasingly advanced machine learning offers an unlocking technology for robotics. Musk said at last week's event that Optimus will be "the biggest product ever of any kind."Huang often says the <a target="_blank" class="" href="https://www.businessinsider.com/jensen-huang-robots-r2d2-c3po-star-wars-nvidia-2024-9">humanoid form factor</a> will eventually allow for the widest adoption since they could one day function in any environment meant for humans.Lebaredian told BI that the humanoid format can also help with the challenge of data collection. Replications of human movement are more readily available than the data needed to train robots in entirely new forms.To train Optimus, Tesla pays dozens of employees up to <a target="_blank" class="" href="https://www.businessinsider.com/tesla-job-training-optimus-robot-motion-capture-suit-2024-8">$48 per hour</a> to perform tasks in motion capture suits. Musk has claimed that two Optimus robots are performing tasks autonomously on <a target="_blank" class="" href="https://www.businessinsider.com/tesla-says-two-optimus-humanoid-robots-working-in-factory-autonomously-2024-6">Tesla's factory floor.</a> But the series of demos that don't display full autonomy call into question the timeline the Tesla CEO has forecast.<a target="_blank" rel=" nofollow" href="https://x.com/elonmusk/status/1815329637188202550">In July</a>, Musk said Tesla would produce a small amount of "genuinely useful humanoid robots" for its own factories and be ready to ramp up production and sell externally in 2026.For this effort and others at xAI, Musk is a big customer of Nvidia. Earlier this year, Oracle CEO recounted a dinner where he and <a target="_blank" class="" href="https://www.businessinsider.com/larry-ellison-elon-musk-jensen-huang-gpus-dinner-oracle-nvidia-2024-9">Musk begged Huang</a> for Nvidia's graphics processing units.Huang recently praised Musk for building a 100,000 GPU supercomputer called Colossus for xAI in a matter of weeks. That cluster is intended to support Grok-2, xAI's chatbot. But, if Optimus is successful, it will require an immense amount of computing power as well."If you can teleoperate a robot to behave like that, then you can also imagine, once you have a brain that's autonomous, it can replace the human who's doing those same controls," Lebaredian said. "The robot's actually capable of doing all those amazing things, whether it's a human in the loop or an AI in the loop — I think that's remarkable."Tesla did not respond to BI's request for comment on the reports of the remote controllers.Got a tip or an insight to share? Contact BI's senior reporter Emma Cosgrove at <a target="_blank" href="mailto:ecosgrove@businessinsider.com">ecosgrove@businessinsider.com</a> or use the secure messaging app Signal: 443-333-9088.

Don't 'demean' Tesla's bots, even if they were piloted by humans, Nvidia robotics boss says

<ul class="summary-list"><li>Nvidia's gaming past and mastering of the GPU made it well-positioned for the AI boom.</li><li>Its next market to corner is advanced robotics that could give way to humanoids.</li></ul>Wearing his signature black leather jacket, <a target="_blank" class="" href="https://www.businessinsider.com/business-bromance-nvidia-jensen-huang-mark-zuckerberg-siggraph-2024-7">Jensen Huang</a> outstretched both arms, gesturing at the humanoid robots flanking him, and the audience applauded. "About my size," he joked from the stage at <a target="_blank" class="" href="https://www.businessinsider.com/jensen-huang-robots-r2d2-c3po-star-wars-nvidia-2024-9">Computex 2024</a> in Taipei, Taiwan, in June."Robotics is here. Physical AI is here. This is not science fiction," he said. The robots though, were flat, generated on a massive screen. What came onto the stage were wheeled machines resembling <a target="_blank" class="" href="https://www.businessinsider.com/doordash-delivery-robots-starship-technologies-2017-3">delivery robots</a>.Robots are a big part of Huang's vision of the future, which is shared by other tech luminaries, including <a target="_blank" href="https://www.businessinsider.com/tesla-says-two-optimus-humanoid-robots-working-in-factory-autonomously-2024-6">Elon Musk</a>. In addition to the Computex display, humanoid robots have come up on Nvidia's last two <a target="_blank" class="" href="https://www.businessinsider.com/jensen-huang-robots-r2d2-c3po-star-wars-nvidia-2024-9">earnings calls</a>.Most analysts agree that Nvidia's fate is all but sealed for a few years. Demand for graphics processing units has fueled it to a<a target="_blank" href="https://www.businessinsider.com/nvidia-ai-3-trillion-club-apple-microsoft-jensen-huang-2024-6"> $3 trillion market capitalization</a> — some days. But the <a target="_blank" href="https://www.businessinsider.com/ai-taiwan-china-chip-war-2024-6">semiconductor industry is cruel.</a> Investment in data centers, which make up 87% of Nvidia's revenue comes in booms and busts. Nvidia needs another big market.At Computex, Huang said there would be two "high-volume" robotic products in the future. The first is self-driving cars and the second is likely to be humanoid robots. Thanks to machine learning the technologies are converging.Both machines require human-like perception of fast-changing surroundings and instantaneous reactions with little room for error. They also both require immense amounts of what Huang sells: AI computing power. But robotics is a tiny portion of Nvidia's revenue today. And growing it isn't just a matter of time.If Nvidia's place in the <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-ai-3-trillion-club-apple-microsoft-jensen-huang-2024-6">tech stratosphere</a> is to be permanent, Huang needs the market for robotics to be big. Though the story of Nvidia's last few years has been one of incredible engineering, foresight, and timing, the challenge to make robots real may be even tougher.<h2 id="48af91f2-ff7b-4976-9a95-fea6d922ba9f">How can Nvidia bring on the robots?</h2>AI presents a <a target="_blank" href="https://www.businessinsider.com/vcs-like-khosla-and-a16z-backing-robotics-that-use-ai-2024-7">massive unlock for robotics.</a> But scaling the field means making the engineering and building more accessible."Robotic AI is the most complicated because a large language model is software, but robots are a mechanical engineering problem, a software problem, and a physics problem. It's much more complicated," said <a target="_blank" class="" href="https://www.businessinsider.com/ai-data-center-demand-nvidia-databank-2024-8">Raul Martynek</a>, CEO of data center landlord Databank.Most of the people working on robotics are experts with doctoral degrees in robotics because they have to be. The same was true of language-based AI 10 years ago. Now that foundation models and computing to support them are widely available, it doesn't take a doctorate to build AI applications.<a target="_blank" class="" href="https://www.businessinsider.com/nvidia-cuda-software-gpu-ai-chips-cerebras-ipo-2024-6#:~:text=Since%20CUDA%20is%20perhaps%20the,Nvidia%20is%20worth%20the%20fight.">Layers of software</a> and vast language and image libraries are intended to make users stickier and lower the barrier to entry so that almost anyone can build with AI.Nvidia's robotics stack needs to do the same, but since using AI in physical spaces is harder, making it work for laymen is also harder.The Nvidia robotics stack takes some navigating. It's a sea of platforms, libraries, and names.Omniverse is a simulation platform. It offers a virtual world that developers can customize and use to test simulations of robots. "Isaac" is what Nvidia calls a "gym" built on top of Omniverse. It's how you put your robot into an environment and practice tasks."Jetson Thor" is Nvidia's chip for powering robots. Project Groot, which the company refers to as a "moonshot" initiative, is a foundation model for humanoid robots. In July, the company launched a synthetic data generation service and "<a target="_blank" class="" href="https://nvidianews.nvidia.com/news/nvidia-accelerates-worldwide-humanoid-robotics-development">Osmo</a>," a software layer that ties it all together.Huang often touts that humanoids are easier to build because the world is already made for humans."The easiest robot to adapt in the world are humanoid robots because we built the world for us," he said at Computex. "There's more data to train these robots because we have the same physique," Huang said.Gathering data about how we move still takes time, effort, and money. Tesla, for example, is paying people $48 per hour to perform tasks in a special suit to train its <a target="_blank" href="https://www.businessinsider.com/tesla-job-training-optimus-robot-motion-capture-suit-2024-8">humanoid, Optimus</a>."That's been the biggest problem in robotics — how much data is needed to give those foundational models an understanding of the world and adjust for it," said <a target="_blank" class="" href="https://www.businessinsider.com/how-this-engineer-hacked-her-career-and-became-a-gm-at-microsoft-2018-2">Sophia Velastegui</a>, an AI expert who's worked for Apple, Google, and Microsoft.But, analysts see the potential. Research firm William Blair's analysts recently wrote, "Nvidia's capabilities in robotics and digital twins (with Omniverse) have the potential to scale into massive businesses themselves." The analysts expect Nvidia's automotive business to grow 20% annually through 2027.Nvidia has announced that BMW uses Isaac and Omniverse to train factory robots. Boston Dynamics, BYD Electronics, Figure, Intrinsic, Siemens, and Teradyne Robotics use Nvidia's stack to build robot arms, humanoids, and other robots.But three robotics experts told Business Insider that so far, Nvidia has failed to lower the barrier to entry for want-to-be robot builders as it has in language and image-based AI. Competitors are coming in to try to open up the ideal stack for robotics before Nvidia can dominate that too."We recognize that developing AI that can interact with the physical world is extremely challenging. That's why we developed an entire platform to help companies train and deploy robots," a Nvidia spokesperson told Business Insider via email.In July, the company launched a humanoid robot developer program. After submitting a successful application developers can access all of these tools.<h2 id="54d5849a-4e51-475e-b8c8-bccca9f22c1e">Nvidia can't do it alone</h2>Ashish Kapoor is acutely aware of all the progress the field has yet to make. For 17 years he was a leader in Microsoft's robotics research department. There, he helped to develop Airsim, a computer vision simulation platform launched in 2017 that <a target="_blank" href="https://www.businessinsider.com/microsoft-shutters-project-airsim-ai-strategy-openai-2023-10">sunsetted last year</a>.Kapoor left with the shutdown to make his own platform. Last year, he founded Scaled Foundations and launched Grid, a robotic development platform designed for aspiring robot builders.No one company can solve the tough problems of robotics alone, Kapoor said."The way I've seen it happen in AI, the actual solution came from the community when they worked on something together. That's when the magic started to happen, and this needs to happen in robotics right now," Kapoor said.It feels like every player aiming for humanoid robots is in it for themselves, Kapoor said. But, there's a robotics startup graveyard for a reason. The robots get into real-world scenarios and they are simply not good enough. Customers give up on them before they can get better."The running joke is that every robot has a team of 10 people trying to run it," Kapoor said.Grid offers a free tier or a managed service that offers more help. Scaled Foundations is building its own foundation model for robotics, but also encourages users to develop one too.Some elements of Nvidia's robotics stack are open source. And Huang often touts that Nvidia is working with every robotics and AI company on the planet, but some developers fear the juggernaut will protect its own success first, and support the ecosystem second."They're doing the Apple effect. To me, they're trying to lock you in as much as they can into their ecosystem," said Jonathan Stephens, chief developer advocate at computer vision firm EveryPoint.An Nvidia spokesperson told BI that this perception is inaccurate. The company "collaborates with the majority of the leading players in the robotics and humanoid developer ecosystem," to help them deploy robots faster. "Our success comes from the ecosystem," they said. Scaled Foundations and Nvidia aren't the only ones working on a foundation model for robotics. <a target="_blank" class="" href="https://www.businessinsider.com/vcs-like-khosla-and-a16z-backing-robotics-that-use-ai-2024-7">Skild AI </a>raised $300 million in July to build its version.<h2 id="973ca613-a524-4878-942d-bb11cf703d83">What makes a humanoid?</h2>Simulators are an essential stop on the path to humanoid robots, but they don't necessarily lead to human-like perception.When describing a robotic arm at Computex, Huang said that Nvidia supplies "the computer, the acceleration layers, and the pre-trained AI models" needed to put an AI robot into an AI factory. The goal of using robotic arms in factories at scale has been around for decades. Robotic arms have been <a target="_blank" href="https://spectrum.ieee.org/unimation-robot">building cars since 1961</a>. But Huang was talking about an AI robot — an intelligent robot.The arms that build cars are largely unintelligent. They are programmed to perform repetitive tasks and often "see" with sensors instead of cameras.An AI-enabled robotic arm would be able to handle varied tasks — picking up diverse items and putting them down in diverse places without breaking them, maybe while on the move. They need to be able to perceive objects and guardrails and then make moves in a coherent order. But a humanoid robot is a world away from even the most useful non-humanoid. Some roboticists doubt that it's the right target to aim for."I'm very skeptical. The cost to make a humanoid robot and to make it versatile is going to be higher than if you make a robot that doesn't look like a human and can only do a single task but does the task well and faster," said a former Nvidia robotics expert with more than 15 years in the field, who asked to remain anonymous.But Huang is all in."I think Jensen has an obsession with robots because, ultimately, what he's trying to do is create the future," Martynek said.Gaming and graphics aren't Nvidia's future anymore. Autonomous cars and robotics are. The company told BI it expects everything to be autonomous in the future starting with robotic arms and vehicles and leading to buildings and even cities."I was at Apple when we developed iPad inspired by Star Trek and other future worlds in movies," Velastegui said. Robotics tap into our imagination, she explained.

The AI boom turned Nvidia into a trillion-dollar giant. Its next big bet is even more complex.

The world is talking about AI and many companies are investing in the emerging technology to keep up in the race. <keyword id="19912297" type="General" weightage="100" keywordseo="Nvidia" source="keywords" meta.keywordsubtype="org" meta.entityname="Nvidia" meta.hostid="261" meta.entityid="Nvidia">Nvidia</keyword> has been a frontrunner in the AI race and often unveils new tools to give its users AI superpowers and make their lives easier. On Thursday (September 26), Bangalore played host to NVIDIA’s <keyword id="23343330" type="General" weightage="20" keywordseo="GeForce-RTX" source="keywords">GeForce RTX</keyword> AI PC tour. The event highlighted the transformative power of AI in gaming, creativity, content creation and beyond. The tour also offered a first-hand experience of how NVIDIA’s cutting-edge GeForce RTX technology is setting new benchmarks for AI-powered computing. <h2>AI-powered NPCs with ACE</h2> NVIDIA highlighted its <keyword id="22863636" type="General" weightage="20" keywordseo="Avatar-Cloud-Engine" source="keywords">Avatar Cloud Engine</keyword> (ACE), a game-changing solution that allows developers to integrate lifelike generative AI models into their games. Using this technology, non-player characters (NPCs) in games can engage in intelligent, dynamic conversations with players. The tour demonstrated ACE in action, with two upcoming titles—Mecha Break from Amazing Seasun Games and Legends by Perfect World Games—showing off how ACE can create more immersive and personalised gaming experiences. The demo highlighted how AI-powered NPCs could be the next big thing in gaming and once more developers are on board, gamers might be able to enjoy this experience on many new titles. <h2>NVIDIA Omniverse Audio2Face and <keyword id="21731033" type="General" weightage="20" keywordseo="DLSS-3-5" source="keywords">DLSS 3.5</keyword> </h2> The GeForce RTX AI PC Tour wasn’t just about gaming—it also underscored NVIDIA’s commitment to fostering creativity. NVIDIA Omniverse Audio2Face stole the spotlight by demonstrating how simple audio input can be used to generate detailed facial animations and lip-sync for characters. This technology, popular among video game developers, allows for the creation of ultra-realistic characters with minimal effort, opening up new possibilities for animators and game designers. For gamers, DLSS 3.5 with ray reconstruction was a focal point, particularly in the highly anticipated title Star Wars: Outlaws. This AI-driven technology enhances the game’s visuals by using deep learning to upscale lower-resolution images in real-time, providing ultra-smooth gameplay and photorealistic graphics even on mid-range GPUs. NVIDIA’s Reflex technology also made an appearance, reducing system latency and making games feel more responsive—a key benefit for players seeking a competitive edge. John Gillooly, NVIDIA’s Technical Product Marketing Manager for Asia Pacific South, was on hand to demonstrate the practical applications of these technologies. He shared that the company’s GeForce RTX AI systems are designed not only to enhance gaming but also to empower industries such as content creation, research, and more. <h2>Comfy UI for generating images and <keyword id="23343331" type="General" weightage="20" keywordseo="ChatRTX" source="keywords">ChatRTX</keyword> for writing</h2> Nvidia also showcased ComfyUI, a popular Stable Diffusion app for generating images using AI. The AI-based image generator can turn selfies into superhero avatars in seconds, thanks to the lightning-fast processing power of RTX GPUs. Another demo that caught attention was of ChatRTX, a personalised AI chatbot that leverages NVIDIA’s retrieval-augmented generation (RAG) and TensorRT-LLM to deliver contextually relevant answers. Running entirely on a user’s RTX PC, ChatRTX offers a fast, secure chatbot experience that works without the need for an internet connection—ideal for users concerned about privacy and data security. <h2>About GeForce RTX <keyword id="20930704" type="General" weightage="20" keywordseo="AI-PCs" source="keywords">AI PCs</keyword> </h2> At the core of NVIDIA’s latest offerings are Tensor Cores, the AI accelerators that form the backbone of all GeForce RTX GPUs. These dedicated cores are designed to handle a wide range of AI tasks, from advanced game mechanics to content creation, academic research, and more. With over 100 million GeForce RTX and NVIDIA RTX GPUs already in users’ hands worldwide, the event underlined NVIDIA’s leadership in AI-powered computing, showcasing how its technology enables over 500 AI applications and 370 AI-enhanced games. Another standout revelation from the event was NVIDIA’s assertion that GeForce RTX-equipped PCs can deliver between 200 to 1,300 trillion operations per second (TOPs) in AI performance. This is a staggering leap, far surpassing laptops with traditional neural processing units (NPUs), which typically max out at just 45 TOPs. The event also highlighted NVIDIA’s broad compatibility with leading open-source large language models (LLMs), including Google Gemini, Llama 2, and OpenAI Whisper. These integrations allow GeForce RTX systems to serve a wide range of AI-driven applications, from content creation to conversational AI tools, further underscoring the versatility of the technology.

Nvidia hosts Geforce RTX AI PCs showcase in Bengaluru, top AI tools to look forward to

<ul class="summary-list"><li>Mark Zuckerberg and Jensen Huang showcased their friendship at SIGGRAPH 2024.</li><li>Meta is a major Nvidia customer, spending billions on GPUs for AI advancements.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/mark-zuckerberg-predicts-ai-smart-glasses-popular-meta-ray-bans-2024-7">Meta CEO Mark Zuckerberg </a>didn't let the tomatoes touch after he cut them into perfectly uniform slices."Just to let you know how OCD he is," Huang said as he ribbed Zuckerberg for his idiosyncratic food prep at a now <a target="_blank" href="https://www.businessinsider.com/mark-zuckerberg-meta-nvidia-jensen-huang-bromance-cooking-2024-4">infamous cookout</a> the two had at Huang's house this past spring. A photo of the founders <a target="_blank" class="" href="https://www.businessinsider.com/mark-zuckerberg-meta-nvidia-jensen-huang-bromance-cooking-2024-4">swapping jackets</a> on the day marked the beginning of a bromance, which was on further display Monday at SIGGRAPH 2024, a conference for the graphics industry that increasingly covers AI."Look, man, if you wanted them to touch you have to tell me that," said Zuckerberg.The meteoric rise of Nvidia's technology and market capitalization has meant the spotlight that follows the company's CEO shines on more niche industry events. SIGGRAPH has been serving the graphics industry since 1974, but it's only now that the technologies behind graphics, augmented reality, and self-driving cars are converging with Nvidia as a focal point, and drawing big names like Zuckerberg at Huang's invitation.The two CEOs have a lot in common. They're both notoriously meticulous. They're both all-in on AI. They are both keeping quiet on Presidential politics so far. And they've both survived many failed business ventures."Both of us have gotten kicked in our teeth plenty over the years," Huang said Monday. But behind the kinship of shared experiences and mutual flattery are billions of dollars of deals, and an increasingly tied future.<h2 id="7c84b6dd-e3e2-4740-8120-ea8642e43bd1">Meta is a very good customer</h2>Meta is one of Nvidia's largest customers. In January, AI-watchers got an early glimpse of the GPU spending spree that had already begun when Zuckerberg revealed the company had purchased roughly <a target="_blank" href="https://www.businessinsider.com/mark-zuckerberg-ai-flex-meta-nvidia-gpus-2024-1">350,000 of Nvidia's H100 GPUs</a> (or 600,000 GPUs of computing power including non-Nvidia GPUs). At $30,000-$40,000 per chip, a rough estimate puts the total spend around $18 billion. Zuckerberg then forecasted to TheVerge that Meta would likely own 600,000 by the end of this year.Meta uses those chips to improve its apps via AI-driven content rankings and recommendations, ads tools, and Meta's AI chatbot, which is fueled by its internal large language model Llama."I actually think we're in a place where we've shown that we can build leading models and be the leading AI company in the world," Zuckerberg told analysts on an April earnings call. "And that opens up a lot of additional opportunities beyond just the ones that are the most obvious for us."Meta will report second-quarter earnings on Wednesday afternoon.<h2 id="419cf688-5d82-437a-be86-f568d4cc8f00">Nvidia depends on Meta too</h2>Though there may not be nearly as much, cash flowing from Nvidia to Meta, Zuckerberg's company is increasingly influential in AI development — especially because it leans toward open-source tools."Remember, we all use PyTorch," Huang said. "That comes out of Meta." <a target="_blank" href="https://www.businessinsider.com/facebook-pytorch-beat-google-tensorflow-jax-meta-ai-2022-6">PyTorch</a> is the machine learning tool Meta invented and open-sourced in 2017. It has become the preferred method of building AI tools among machine learning engineers, beating out Google's TensorFlow. Huang also praised Meta's work in computer vision, LLMs, and real-time translation.Huang also mentioned one of Meta's open-source models, Segment Anything. At the conference, Meta released a new version of the model, which can automatically identify and segment objects and entities within images and videos to make altering graphics faster. Zuckerberg demonstrated the upgrades with a video showing the model selecting cows running across a field on his ranch in Hawaii.Zuckerberg demonstrated more of Segment Anything's capabilities later that day in an Instagram video featuring a <a target="_blank" href="https://www.businessinsider.com/zuckerberg-meta-new-streetwear-image-flaunts-large-gold-chain-instagram-2024-7">new gold chain</a>, gifted from artist T-Pain, in which Zuckerberg momentarily disappears from behind the necklace and centers various effects around the large pendant.Though Huang's fashion choices, or rather the singular choice of a <a target="_blank" href="https://www.businessinsider.com/jensen-huang-wardrobe-black-leather-jackets-signature-look-2024-3">black leather jacket</a>, are <a target="_blank" href="https://www.businessinsider.com/mark-zuckerbergs-style-evolution-in-photos-2024-6">equally iconic</a>, he discussed Segment Anything's use in robotics."Our use case is for robotics and industrial digitalization, and connecting these AI models into omniverse so we can model and represent the physical world better, and have robots operate in these omniverse worlds better," Huang said.Huang benefits from Meta's massive AI infrastructure buildup now, but its future depends on the financial results the tech giants can produce as a result of the immense spending on GPUs. And customers like Meta and Microsoft are at the top of that prove-it list."In our company, I want every engineer and every software developer to have an AI or many AIs," Huang said to Zuckerberg. "The thing that I love about your vision is you also believe that everybody and every company should be able to make their own AI."Huang and Zuckerberg have big stakes in that vision coming true, according to Paul Baier, CEO and principal analyst at GAI Insights. Huang needs to ensure LLMs keep building with Nvidia chips and Zuckerberg needs Huang's credibility to bolster his semi-open-source strategy."The bromance will last until the mutual advantage ends," Baier said.Got a tip or an insight to share? Contact Senior Reporter Emma Cosgrove at <a target="_blank" href="mailto:ecosgrove@businessinsider.com">ecosgrove@businessinsider.com</a> or use the secure messaging app Signal: 443-333-9088

Gold chains and leather jackets: The business deals behind the tech industry's most powerful bromance 

<ul><li>Bullishness on Nvidia has gripped Wall Street in 2023, and the stock is the top performer in the S&amp;P 500 this year.</li><li>CEO Jensen Huang has bet his company's fortunes on AI long before anyone was thinking about the technology.</li><li>Here are the six most interesting tidbits about Huang and his company from a new profile. </li></ul><a href="https://markets.businessinsider.com/stocks/nvda-stock?utm_medium=ingest&amp;utm_source=markets" rel="">Nvidia</a> woke investors up earlier this year to the fact that <a href="https://markets.businessinsider.com/news/stocks/nvidia-ai-earnings-report-wall-street-reaction-artificial-intelligence-h100-2023-5?utm_medium=ingest&amp;utm_source=markets" rel="">artificial intelligence is going to be a very big deal — and a very big business.</a>Shares of Nvidia have surged 226% year-to-date, adding about <a href="https://markets.businessinsider.com/news/stocks/nvidia-jensen-huang-wealth-net-worth-nvda-stock-artificial-intelligence-2023-5?utm_medium=ingest&amp;utm_source=markets" rel="">$850 billion to its market value</a> and <a href="https://markets.businessinsider.com/news/stocks/nvidia-stock-ai-race-artificial-intelligence-wall-street-gpu-huang-2023-5">making it the best performing stock in the S&amp;P 500 in 2023.</a>Nvidia CEO Jensen Huang has been called a visionary for betting his company on artificial intelligence years before the technology entered the mainstream. In <a href="https://www.newyorker.com/magazine/2023/12/04/how-jensen-huangs-nvidia-is-powering-the-ai-revolution?utm_source=pr&amp;utm_brand=tny&amp;utm_campaign=pr&amp;utm_medium=referral" target="_blank" rel="noopener">a new profile by the New Yorker,</a> Huang revealed a slew of details about himself and his company. Here are the six most interesting tidbits about Huang and Nvidia, according to the recent profile.<h3>1. Nvidia's corporate motto is that it's only 30 days from going out of business</h3>Nvidia almost went out of business in 1996. The company had to lay off half of its staff and it was just a few weeks away from missing payroll. Huang said the company had a 50-50 chance of saving the business with the upcoming launch of its Riva 128 graphics chip.The chip was a success, but the desperation experienced in 1996 fueled what has become the company's unofficial corporate motto."Huang encouraged his employees to continue shipping products with a sense of desperation, and for years to come he opened staff presentations with the words 'Our company is thirty days from going out of business," The New Yorker wrote.<h3>2. Nvidia embraces failure and puts it on full display</h3>Jensen Huang has a radical belief that "failure must be shared," he told The New Yorker. And that's exactly what the company does.After the launch of a faulty graphics chip in the early 2000's, instead of firing the product managers, Huang had them give a presentation to hundreds of employees about all of the decisions the team made leading up to launch of the failed product. The chip had a loud, overactive fan, and Nvidia went as far to distribute a satirical video to the press in which the card was repurposed as a leaf blower.<h3>3. Jensen Huang writes hundreds of e-mails every day</h3>Nvidia has an agile corporate structure, which means Huang participates in all facets of the business. That results <a href="https://www.businessinsider.com/nvidia-ceo-jensen-huang-sends-hundreds-emails-staff-daily-2023-11">in Huang responding to hundreds of e-mails every single day,</a> though each e-mail is usually only a few words long. "One executive compared the e-mails to haiku, another to ransom notes," The New Yorker wrote. <h3>4. Jensen Huang does not think AI is a threat to humanity</h3>There's a lot of worry in the AI community that one day, the technology could become powerful enough to overtake and replace its creators. Those concerns are shared by tech icons like Elon Musk, and speculation suggests that those fears played a part in <a href="https://www.businessinsider.com/microsoft-doesnt-know-why-openai-fired-sam-altman-threat-humanity-2023-11">the OpenAI management fiasco earlier this month.</a>But Huang simply is not concerned about a doomsday scenario related to AI.When asked if AI might someday kill somebody, one Nvidia executive said, "Eh, electricity kills people every year."Another question posed was whether AI might become self-aware one day, but Huang wasn't buying it."In order for you to be a creature, you have to be conscious. You have to have some knowledge of self, right? I don't know where that could happen," Huang said. <h3>5. Huang encourages employees to develop products for "zero-billion-dollar markets"</h3>A bulk of Nvidia's success can be chalked up to the company skating to where the puck is going, years in advance. And Huang encourages that level of thinking as its employees develop new products.Huang calls it the "zero-billion-dollar market." These exploratory products might not have competitors or even potential customers today, but that could change years down the road. Huang compared this idea of thinking to the movie "Field of Dreams", in which the main character builds a baseball field in the middle of a cornfield, then waits for players and fans to come<h3>6. Huang's big gamble on the future is the Omniverse</h3>Huang took big risks over the past few decades, betting his company could develop technology for a market that didn't yet exist.When asked what Nvidia might be doing today that mirrors the "zero-billion-dollar" bets the company took in years past, Huang responded with a single word: "Omniverse."Huang said the Omniverse is an "industrial metaverse" that will be able to simulate the real world at an incredibly fine level of detail. The Omniverse could ultimately enable humans to safely train robots and self-driving cars in a digital world.

Nvidia was Wall Street's hottest stock this year as the AI revolution took hold. Here are 6 wild insights about the company and its CEO from a new profile.

<ul><li>Nvidia stock doesn't look expensive even at a $2 trillion valuation, according to Bank of America.</li><li>The bank increased its Nvidia price target to $1,100 ahead of its "AI Woodstock" event, implying 24% upside.</li><li>BofA said Nvidia is trading at a lower forward P/E ratio than it was in November 2022.</li></ul>Even at a $2.2 trillion valuation, <a href="https://markets.businessinsider.com/stocks/nvda-stock?miRedirects=1">Nvidia</a> stock still isn't expensive, <a href="https://markets.businessinsider.com/stocks/bac-stock?miRedirects=1">Bank of America</a> said in a note on Wednesday.The bank reiterated its "Buy" rating and increased its price target to $1,100 from $925, representing potential upside of 24% from current levels."Despite YTD outperformance, NVDA valuation and ownership attractive compared to semis/infotech peers," Bank of America analyst Vivek Arya said.Shares of Nvidia have surged 80% year-to-date and <a href="https://markets.businessinsider.com/news/stocks/nvidia-stock-ai-race-artificial-intelligence-wall-street-gpu-huang-2023-5">are up 287% over the past year as demand for its AI-enabling graphic cards remains insatiable. </a>But amid the stunning success of Nvidia's underlying business, the company's stock is still trading at valuations lower than when ChatGPT was first launched in 2022."NVDA trading lower today at 37x NTM PE vs. 44x PE when ChatGPT was launched in November 2022," Arya said, adding that the stock is trading well within its historical forward price-to-earnings range of 26x to 69x. Meanwhile, while most investors own Nvidia stock, they're still underweight the stock relative to its weight in the <a href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a>."Valuation, ownership levels still suggest room for upside," Arya said. "Our recent ownership analysis suggests that while NVDA is broadly owned (67% of funds in our survey), relative weighting (NVDA ownership concentration vs. concentration in SPX) is below large cap infotech peers (1.01x vs. 1.13x peers) despite nearly 9x faster growth potential," Arya said.Further upside in Nvidia stock could be sparked by its "AI Woodstock" event on March 18, when it hosts its GPU Tech Conference and is set to unveil the successor to its wildly popular H100 chip. "We expect GTC to showcase: 1) Rising impact of genAI, omniverse/digital twins across a wide range of end-markets, 2) Opportunity to re-architect nearly $1-$2Tn of global computing infrastructure with accelerators, resulting in a $250-$500bn annual market (vs $250bn prior) over the next 3-5 years, 3) Pipeline update across accelerators (B100, N100), Ethernet switches, DPU, and edge AI," Arya said.

Nvidia stock still isn't expensive even at a $2 trillion valuation, BofA says

<ul class="summary-list"><li><keyword id="11897493" type="UNKNOWN" weightage="60" keywordseo="nvidia" source="Orion">Nvidia</keyword> stock jumped 11% after reporting record third-quarter sales of $7.1 billion.</li><li>The 50% sales jump from a year ago was due, in part, to increased demand for gaming and data centers.</li></ul><a href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia stock</a> jumped 11% Thursday after the chipmaker posted record sales on increased demand for video gaming and predicted a strong end-of-year as more companies push into the future of the internet — the <keyword id="11121339" type="UNKNOWN" weightage="60" keywordseo="metaverse" source="Orion">metaverse</keyword>.The largest chipmaker in the US by market value reported $7.1 billion in third-quarter sales late Wednesday, a 50% jump from a year ago, thanks to "record revenue from the company's gaming, data center and professional visualization market platforms," the company said <a href="https://nvidianews.nvidia.com/news/nvidia-announces-financial-results-for-third-quarter-fiscal-2022">in a press release</a>.That also beat Wall Street forecasts for $6.8 billion in sales. Adjusted earnings per share of $1.17 topped analysts' estimates as well. Nvidia stock traded up 11% at $324.85 at 10:03 a.m. in New York. Shares have been on a record run this year, rising more than 123% on retail trader hype, a <keyword id="6428865" type="UNKNOWN" weightage="60" keywordseo="chip" source="Orion">chip</keyword> shortage, and a broader push into the metaverse. The company is quickly closing in on a $1 trillion market capitalization, a milestone achieved by few others.Among <keyword id="11994572" type="UNKNOWN" weightage="60" keywordseo="retail-traders" source="Orion">retail traders</keyword>, who have long been bullish on Nvidia, the stock was the most talked about on well-known Reddit investing thread Wall Street Bets, according to Quiver Quantitative data. It was also the most hyped stock across Reddit, <a href="https://app.hypeequity.com/monitor">HypeEquity showed</a>. One post about Nvidia's earnings in the r/stocks subreddit received more than 1,600 upvotes, or likes.Meanwhile, the company sees fourth-quarter sales of about $7.40 billion, also topping Wall Street forecasts, with expectations for a boost from metaverse-related spending. A week ago, Nvidia widely launched its <a href="https://blogs.nvidia.com/blog/2021/11/11/omniverse-enterprise/">Omniverse Enterprise</a> for companies and individuals to be able to build 3D virtual worlds. The chipmaker predicted that as the world moves more into the metaverse — a virtual space where people will interact — its chip and data center sales will be further boosted. "Omniverse will be used from collaborative design, customer service avatars and video conferencing, to digital twins of factories, processing plants, even entire cities," CEO Jensen Huang said in the earnings release. "Omniverse brings together NVIDIA's expertise in AI, simulation, graphics and computing infrastructure. This is the tip of the iceberg of what's to come."The concept of the metaverse <a href="https://markets.businessinsider.com/news/currencies/facebook-metaverse-nfts-crypto-meta-cryptocurrencies-2021-11">shot into the mainstream</a> last month when the company once known as Facebook rebranded to Meta Platforms, as a symbol of its move into the virtual world.

Nvidia jumps 11% as gaming-fueled earnings, metaverse guidance spark renewed bullishness from retail traders

<ul class="summary-list"><li><keyword id="12499581" type="UNKNOWN" weightage="60" keywordseo="luminar" source="Orion">Luminar</keyword> stock shot up as much as 44% after a new self-driving car deal with <keyword id="11897493" type="UNKNOWN" weightage="60" keywordseo="nvidia" source="Orion">Nvidia</keyword>.</li><li>Nvidia plans to implement Luminar's lidar technology in a new autonomous vehicle reference platform.</li></ul>Shares of Luminar Technologies Inc. jumped Tuesday after it announced Nvidia Corp. is using its technology in a new self-driving vehicle collaboration. The stock was up as much as 44% in pre-market trading before paring gains. The shares were trading higher by about 20%, at $21.14 as of 10:15 a.m. ET. Luminar said its Lidar (Light Detection and Ranging) technology will be part of the sensor suite of the Nvidia Drive Hyperion autonomous vehicle reference platform. Luminar Technologies specializes in long-range Lidar products, with the goal of making widely available autonomous driving technology. In addition to inking a deal with Nvidia, Luminar also made a deal with Volvo earlier this year. The tech company will report earnings on Thursday later this week. Nvidia, meanwhile, is looking to lead the way into the metaverse era with a slate of new tools. At the company's virtual GPU Technology Conference, <a href="https://www.marketwatch.com/story/nvidia-seeks-to-lead-gold-rush-into-the-metaverse-with-new-ai-tools-11636445322">the chip maker announced</a> the rollout of several products as an expansion of its Omniverse Enterprise platform. Nvidia topped a <a href="https://www.marketwatch.com/story/nvidia-stock-rockets-toward-best-day-in-19-months-as-optimism-grows-for-metaverse-opportunity-11636041759?mod=article_inline">$700 billion valuation</a> for the first time last week. "Nvidia has led the modern compute revolution, and the industry sees them as doing the same with autonomous driving," Luminar CEO Austin Russell said.

Luminar skyrockets as much as 44% after striking deal with Nvidia for self-driving car technology

<ul class="summary-list"><li>Nvidia CEO <keyword id="4877280" type="PERSON" weightage="60" keywordseo="jensen-huang">Jensen Huang</keyword> spoke to a group of journalists at the Computex IT conference. </li><li>He said <keyword id="2810876" type="PERSON" weightage="60" keywordseo="ethereum">ethereum</keyword> will be valuable due to its scalability and credibility in areas including DeFi.</li><li>He also spoke about Nvidia's role in the future of <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> mining and said he believes a <keyword id="11121339" type="UNKNOWN" weightage="60" keywordseo="Metaverse">metaverse</keyword> is imminent. </li></ul>Jensen Huang, the CEO of chip and graphics card producer Nvidia, recently spoke to a group of journalists at the IT expo Computex about his views on ethereum's value, how Nvidia's products fit into the <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-474d5884-7fff-42d2-2dbf-26a43848f924">crypto</a> ecosystem and why he thinks we're on the cusp of creating a metaverse in an interview published by <a href="https://venturebeat.com/2021/06/12/nvidia-ceo-jensen-huang-weighs-in-on-the-metaverse-blockchain-chip-shortage-arm-deal-and-competition/">VentureBeat</a>. Nvidia's graphic processing units are top-level graphic cards that also have crypto mining capabilities. Huang, a big proponent of artificial intelligence, unveiled a lower resolution graphics card at the conference that has been designed specifically for <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-474d5884-7fff-42d2-2dbf-26a43848f924">crypto</a> mining. He also addressed the global chip shortage, Nvidia's role in it and whether he believes the Chinese government will interfere in the development of artificial intelligence. Here are Huang's ten best quotes from the interview, lightly edited and condensed for clarity. <ol><li>"Am I excited about proof of stake? The answer's yes....Ethereum has established itself. It has the opportunity now to implement a second generation that carries on from the platform approach and all of the services that are built on top of it. It's legitimate. It's established. There's a lot of credibility. It works well. A lot of people depend on it for DeFi and other things. This is a great time for proof of stake to come." - on the opportunities ethereum provides and the network's value for <keyword id="6355684" type="PERSON" weightage="60" keywordseo="Blockchain">blockchain</keyword> and crypto.</li><li>"We reduced the performance of our GPU on purpose so that if you would like to buy a GPU for gaming, you can. If you'd like to buy a GPU for crypto mining, either you can buy the CMP version, or if you really would like to use the GeForce to do it, unfortunately the performance will be reduced." - on how Nvidia is trying to decrease graphic card prices and why they developed CMP. </li><li>"We'll just keep working with our supply chain to inform them about the changing world of IT, so that they can be better prepared for the demand that's coming in the future. But I believe that the areas that we're in, the <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> that we're in, because we have very specific reasons, will have rich demand for some time to come." - on managing the ongoing global shortage of semiconductors.</li><li>"It's now established that ethereum is going to be quite valuable. There's a future where the processing of these transactions can be a lot faster, and because there are so many people built on top of it now, ethereum is going to be valuable. " - on the outlook for the ethereum network based on its scalability. </li><li>"I believe we're right on the cusp of it. [...] There will be many types of metaverses, and video games are one of them, for example. [...] We'll see this overlay, a metaverse overlay if you will, into our physical world." - on when and how a metaverse will become real. </li><li>"You need that blockchain to have some fundamental value, and that fundamental value could be mined. Cryptocurrency is going to be here to stay. Ethereum might not be as hot as it is now. In a year's time, it may cool down some. But I think crypto mining is here to stay." - on the future of crypto mining and blockchain networks.</li><li>"I believe that there will be a larger market, a larger industry, more designers and creators, designing digital things in virtual reality and metaverses than there will be designing things in the physical world. [...] The economy in the metaverse, the economy of Omniverse, will be larger than the economy in the physical world. Digital currency, cryptocurrency, could be used in the world of metaverses." - on his vision for the omniverse that Nvidia is developing. </li><li>"My sense is that we're welcome in China and we'll continue to work hard to deserve to be welcome in China, and every other country for that matter." - on whether the Chinese government will step in and regulate Nvidia's work on artificial intelligence. </li><li>"One of the most important technologies that we have to build, for several of them - in the case of consumers, one of the important technologies is AR, and it's coming along." - on the development and accessibility of augmented reality. </li><li>"This is the largest market opportunity the IT industry has ever seen. I can understand why it inspires so many competitors. We just need to continue to do our best work and run as fast as we can." - on the future of the graphics processing unit industry and the competition within it.</li></ol> <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/investments-in-crypto-hit-17-billion-in-the-first-six-months-of-2021/articleshow/83740327.cms">Investments in crypto hit a new record of $17 billion, but Indian funds are yet to jump on the bandwagon</a> <a href="https://www.businessinsider.in/cryptocurrency/news/indian-cryptocurrency-exchange-wazirx-has-listed-shiba-inu-tokens-for-trading-in-indian-rupees/articleshow/82731429.cms">Chiacoin claims to be an eco-friendly cryptocurrency — here's how it works</a> <a href="https://www.businessinsider.in/cryptocurrency/news/here-is-why-a-ban-on-cryptocurrencies-may-not-be-even-possible/articleshow/82741310.cms">Is a ban on cryptocurrencies even possible?</a> <a href="https://www.businessinsider.in/cryptocurrency/news/latin-america-and-south-asia-show-two-ends-of-the-crypto-regulatory-spectrum/articleshow/83638437.cms">Even as Latin America embraces Bitcoin, Southeast Asia is clamping down on cryptocurrencies</a>

Nvidia CEO Jensen Huang talks about the value of ethereum, advances in crypto mining and the global semiconductor shortage in a recent interview. Here are the 10 best quotes.

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