Siemens and Nvidia enter metaverse partnership

Siemens has signed a partnership agreement with chip designer Nvidia Corp to create an industrial metaverse.

The industrial metaverse is an enhanced virtual reality for companies to reduce the costs of running their factories, buildings and speed up new product design.

The deal is a cornerstone of Siemens Xcelerator, a new open digital platform also launched by the German technology and engineering company.

Siemens is moving further into the digital space because it offers faster growth rates and higher margins than its traditional business of trains and industrial drives and automation.

Siemens’s Xcelerator will be the umbrella term for services which will allow customers to visualise yachts or factories, for example, before construction starts.

The services will be offered to customers through Siemens’s software as a service (SaaS) subscription model, to make it more affordable for small and medium sized companies.