Qualcomm-CEO states the metaverse is better than social-media, sees significant industrial chances
Key takeaways:
- Qualcomm considers the so-called metaverse as better than just the next frontier for social media; CEO Cristiano Amon described CNBC’s Jim Cramer on Thursday.
- “You’re still going to have the major social network, customer play ... but industrial is large,” he stated.
Metaverse is better than Social Media says, Cristiano Amon:
On Thursday, CEO Cristiano Amon described CNBC’s Jim Cramer that the chipmaker considers the so-called metaverse as better than simply the next frontier for social media.
“The metaverse is going to grow as several different options,” Amon stated in an interview on “Mad Money,” seeming one day after the firm’s published robust first-quarter quarter outcomes.
“You’re still going to have the major social network, consumer play. You’re going to have a great one for gaming, but industrial is big,” claimed Amon. He stated that highlights the significance of Qualcomm’s alliance with Microsoft, which utilizes Qualcomm’s chips in its hybrid reality smart glasses.
Talk of the metaverse has rushed in recent months, thanks mainly to social media giant Facebook altering its name to Meta Platforms and declaring significant investments to create interactive, immersive virtual worlds. That set the metaverse image, which had been about in science-fiction circles for decades, firmly on Wall Street’s radar.
Amon worried that its potential runs past recreational and social uses. The reason for that is because cloud computing adoption is pushing across the industry landscape, he said.
“With the cloud economy we have right now, with everything related to the cloud, we have digital twins of everything. You can have a digital twin of an automobile, for instance,” Amon stated.
“When the car offers up at the dealership, and somebody is going to peek under the hood, they can place a virtual reality, extended reality device, and it will tell you from the digital twin in the cloud, where to set it, where’s the issue,” he stated, adding that it can be utilized for worker training, also.