Nvidia, riding a boom in its AI chip business, recorded $148.0 billion in revenue through the third quarter of its last fiscal year (February to October). That marks explosive growth from $27.5 billion in 2023. But not all of Nvidia's businesses have gone well.

Its Omniverse project, aimed at helping solve problems in robot design and manufacturing sites, appears not to have performed as well as Nvidia CEO Jensen Huang had expected.

The Information recently reported that Nvidia spent four years trying to monetise the Omniverse platform but has made little progress so far. The Information cited 4 current and former Nvidia employees familiar with the matter.

Jensen Huang, Nvidia's CEO, continues to stress that Omniverse will serve as a spearhead to break into the $50 trillion manufacturing and logistics industry, but there are reports that privately he is frustrated with the current results.

Omniverse supports users in designing and simulating digital twins of real-world objects such as cars and machines.

Nvidia is reported to have spent hundreds of millions of dollars to build Omniverse Cloud by renting thousands of GPUs from Oracle, Google and Microsoft to target large companies that need large-scale simulations.

Nvidia has actively promoted BMW, Siemens, Foxconn and Boston Dynamics as companies using Omniverse Cloud, but The Information, citing former Nvidia employees, reported that there are few that actually run large-scale simulation environments on Omniverse Cloud.

With virtually no demand for Omniverse Cloud since its launch in 2022, Nvidia had to look for ways to use it internally and ultimately shut the service in August, The Information reported, citing a source familiar with internal details.