On Tuesday Nvidia released a set of new tools for software developers. Its aim is to help them create a “metaverse” of three-dimensional virtual worlds.
At the company’s annual technology conference in Santa Clara, California, Nvidia released Omniverse Enterprise. It will start at $9,000 per year and it will be sold by partners such as Dell Technologies and Lenovo Group Ltd.
The Omniverse tools help various apps used to create three-dimensional worlds, such as software from Adobe Inc, work better together while running on chips made by Nvidia.
In an interview, Richard Kerris who is vice president of the Omniverse platform at Nvidia called it ‘’the plumbing of the virtual worlds. That’s what we’ve built. And that’s what we’re building with all of these partners.”
Right now, most of those worlds are far from fruition. Not only that but the tools are mostly being used by businesses.
Kerris said in an interview that Nvidia worked with more than 700 companies to test and develop the software, including firms like Ericsson, which is a telecommunications equipment maker. They use the software to create a “digital twin” of a city that is used to test cell phone signal coverage before launching physical trucks to install real-world antennas.
Earlier this month, Aaron Rakers, an analyst, shared that this software as well as some other tools could be a $10 billion market opportunity for Nvidia over the next five years especially as firms like Meta Platforms Inc, the firm formerly known as Facebook, persuade people to spend more time in what it calls the metaverse.
Nvidia’s stock market value has surged $191 billion since Facebook’s capital expenditure announcement on Oct. 25, a two-week gain that is nearly as large as rival Intel’s entire market capitalization of $209 billion.