It might be argued that Nvidia (NASDAQ:NVDA) has been 2023’s finest investment. Its success is more attributable to the development of AI than to the existence of the metaverse. In the world of artificial intelligence chips, Nvidia is unrivalled.
It’s common knowledge. Nvidia’s CEO Jensen Huang has said as much at many conferences. He believes AI to be the company’s biggest potential. But he is also quick to add that his faith in the metaverse has not wavered.
The company’s response to the metaverse potential is the Omniverse platform. Huang has speculated that engineers and developers may build a virtual or augmented environment twice the size of New York City with this technology.
Most potential investors probably won’t look at Nvidia stock because of the company’s metaverse efforts. That investment, however, does not seem to be a detriment at this time. Instead, it’s simply one more reason to trust in Nvidia. The markets have lately scrutinised Nvidia in regard to its value. It has a metaverse catalyst and is now more affordable than before. There are several positive indicators for Nvidia stock.
Over the last few years, shares of Meta Platforms (NASDAQ:META) have soared. When Facebook announced in late 2021 that it would be changing its name to Meta Platforms, investors were taken aback.
By changing their name, they showed the IT industry that the metaverse was here to stay. However, at the same time, the redesign was terrible timing for Facebook. A few of weeks later, market participants factored in the prospect of rate hikes. Because of this, Facebook’s change of direction came off as an odd and perhaps disastrous move.
When compared to the other IT giants in 2022, Meta Platforms’ performance was dismally bad. This year, variables appear to be swinging back in Meta Platforms favour, giving it an excellent opportunity to buy in META.
Most recently released Meta Platforms include more refined VR/AR settings. Marketing of the company’s hardware will proceed as planned. How well it does in the metaverse depends on how many copies are sold. It’s too soon to say, but credit is due for the company’s resolve in seeing out the economic cycle and the rebranding process. It could turn out to be quite profitable.
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