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LONDON — Before the launch of “ABBA Voyage,” the London concert performed by 3D digital avatars of the iconic Swedish band, member Björn Ulvaeus said they hoped audiences would “feel that they’ve gone through something that they’ve never seen before.”

Following its May 27 debut, much of the reaction from domestic and international critics, fans and industry professionals has been rapturous.

“Other than the team involved, no one really knew how they would integrate an avatar-based performance,” Sarah Cox, director of live event technical consultancy Neutral Human, told CNBC. “That blew me away as someone working on real-time graphics. My jaw hit the floor. You look around and people are really buying into the idea that ABBA are there.”

Demand has been strong — the show’s run has been extended to November 2023 and could well go beyond that.

And the team has confirmed it aims to take the show around the world.

“Our ambition is to do another ABBA Voyage, let’s say in North America, Australasia, we could do another one in Europe. We can duplicate the arena and the show,” producer Svana Gisla told a U.K. government committee session in November.

What can fans expect from ABBA’s new virtual concert, ABBA Voyage?

It also expects other shows to begin following the same model.

“The tech itself isn’t new but the way in which we’ve used it and scale and barriers we’ve broken down are new. I’m sure others will follow and are planning to follow,” Gisla said.

That could “absolutely” be the case somewhere like Las Vegas, where some shows run round the clock with rotating crews, she added.

“We have live musicians, so we keep our band and do seven shows over five days a week. But you could roll round the clock. Vegas will quickly adopt this style of entertainment and do Elvis or the Beatles.”

Money, money, money

View of the ABBA Arena on May 26, 2022 in London, England.

Dave J Hogan | Getty Images Entertainment | Getty Images

It was also designed for flexibility. It was constructed on a one meter raised platform without breaking ground, and could be disassembled and reconstructed elsewhere — or stay in place and host another show in future.

But emulating Voyage’s model — which sees digital replicas of the four band members perform classic hits and newer numbers for 90 minutes, while also interacting with each other and speaking to the audience between songs — will be no easy task.

The show was in the works for five years and had a £141 million ($174.9 million) budget funded by global investors. It needs to get around 3 million people through its doors to break even, according to Gisla, and the average ticket price is £75.

After choosing their set list and making other creative decisions, the ABBA members did five weeks of performance in motion capture suits. Hundreds of visual effects artists then worked on the show for two years, led by the London branch of Industrial Light & Magic, a visual effects company founded by George Lucas.

Promotional image for ABBA Voyage, the digital avatar-based live show currently running in London.

Johan Persson | ABBA Voyage

A decade ago, a Coachella performance featuring an apparent hologram of Tupac Shakur impressed audiences and hinted at alternative reality’s potential in live shows, with the artist’s likeness digitally recreated without using archive footage.

While not meeting the technical definition of a hologram, which uses laser beams to construct an object with depth, the visual effects team projected a 2D image onto an angled piece of glass, which was itself projected onto a Mylar screen, creating a 3D effect. Shakur then “performed” two songs with Dr. Dre and Snoop Dogg, 16 years after his death.

The Voyage team is tight-lipped about exactly how their show works, but previously confirmed it is not a laser-based hologram either. It involves 65-million pixel screens which give the impression of the band performing life-size on stage in 3D in real time, with traditional-style concert screens showing close-ups and different views on either side.

Its servers are being pushed to the “absolute extreme” to render the images without lag, Gisla said, such that they are shaking through some transitions. She also acknowledged that the 10-meter high side screens are “very unforgiving” on detail and there are improvements that could be made.

Rapper Snoop Dogg (L) and a “hologram” of deceased rapper Tupac Shakur perform on stage on the third day of the 2012 Coachella Valley Music & Arts Festival.

Christopher Polk | Getty Images Entertainment | Getty Images

But, she added, with real-time render speeds becoming quicker, “Benny and Bjorn could be sitting in a chair at home connected to their avatar, updating them to talk about last night’s football result to the audience. That will come.”

Next steps

ABBA avatars perform their 1981 song The Visitors in London, 2022.

Johan Persson | ABBA Voyage

“Posthumously you can put artists back on stage, ethically you may or may not have a view on that,” said Gisla. “Having ABBA partake in this is I can say this is an ABBA concert. ABBA made the decisions, chose what to wear, chose their set list, ABBA made this show.”

For an artist like Elvis with an extensive visual and audio archive you could create an accurate replica, but without the input that makes this show feel so tangible, she said.

For Cox, live shows that provide a “shared experience” like ABBA Voyage hold a greater appeal than headset-based virtual experiences, though there will certainly be more of those available in future.

And both AR and VR are spreading in the worlds of gaming, events, sports, theater and beyond.

Digital avatar experiments have included musician Travis Scott premiering a song within the wildly popular game Fortnite in 2020, with his avatar looming over players who were still moving around within the world of the game. It got a reported 45.8 million viewers across five shows. Lil Nas X performed the same year in the game Roblox.

A 15 year-old plays Fortnite and Travis Scott Present: Astronomical on April 23, 2020, in Los Angeles, United States.

Frazer Harrison | Getty Images Entertainment | Getty Images

Jo Twist, chief executive of trade body UK Interactive Entertainment, said she was noticing growing opportunities in the intersections between games, music and entertainment experiences.

“While these kind of experiences have mostly been the preserve of the biggest artists so far, we believe that growth in both the number of people who play, and online game worlds that enable user generated content, could open games up to all kinds of performers, allowing them to successfully tap into its enormous player base to raise their profile.” she said.

Giulia De Paoli, founder and general manager of show design and AR studio Ombra, has worked on projects bringing “extended reality” — spanning AR and VR — to live sports.

“AR has permitted us to create a full show for broadcast events that would be impossible with traditional projection and LED setups, like creating huge 10-meter flying numbers and flames around the arena,” she said.

“We see this developing into a full experience for people to watch live and, as the word says, augmenting the reality around us, gamifying, interacting and seeing impossible things happen.”

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Peter Thiel just bought a big stake in Tom Lee’s ether company and the shares are surging

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Peter Thiel just bought a big stake in Tom Lee's ether company and the shares are surging

Peter Thiel, president and founder of Clarium Capital Management LLC, holds hundred dollars bills as he speaks during the Bitcoin 2022 conference in Miami, Florida, U.S., on Thursday, April 7, 2022. 

Eva Marie Uzcategui | Bloomberg | Getty Images

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Bitmine (BMNR) 1-month

The current wave of interest in Ethereum and related assets follows an announcement by Robinhood that it will enable trading of tokenized U.S. stocks and ETFs across Europe, and a groundswell of interest in stablecoins throughout June following Circle’s wildly successful IPO and ongoing progress in Congress on the Senate’s proposed stablecoin bill, the GENIUS Act.

The price of ether itself also continued its rally, up more than 4% Wednesday. The coin has doubled in price in the past three months.

Thiel is a venture capitalist and hedge fund manager best known as a cofounder of both PayPal and Palantir and an early investor in Facebook. Founders Fund was an investor in Tagomi, the crypto brokerage acquired by Coinbase in 2020, and Polymarket, the prediction market built on Ethereum.

Don’t miss these cryptocurrency insights from CNBC Pro:

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Nvidia CEO Jensen Huang sells another $37 million worth of stock

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Nvidia CEO Jensen Huang sells another  million worth of stock

NVIDIA founder and CEO Jensen Huang speaks during the NVIDIA GTC Paris keynote, part of the 9th edition of the VivaTech technology startup and innovation fair, held at the Dôme de Paris in the Porte de Versailles exhibition center in Paris on June 11, 2025.

Mustafa Yalcin | Anadolu | Getty Images

Nvidia CEO Jensen Huang sold another 225,000 shares of the chipmaker, totaling about $37 million, according to a U.S. Securities and Exchange Commission filing.

The sale comes as part of a plan adopted in March for Huang to sell up to 6 million shares of the leading artificial intelligence company. Huang began trading stock last month. His most recent sale, disclosed last Friday, totaled 225,000 shares, or about $36 million.

Since he began selling stock this year, Huang has unloaded 1.2 million shares, totaling about $190 million, according to InsiderScore. In last year’s prearranged plan, Huang cashed in over $700 million.

AI demand and the need for graphics processing units powering large language models have spiked Huang’s net worth and propelled Nvidia past a $4 trillion market capitalization, making it the most valuable company.

That surge in value has put Huang above Berkshire Hathaway’s Warren Buffett in net worth on Bloomberg’s Billionaire Index.

Read more CNBC tech news

In another significant win, Nvidia said this week that it plans to soon restart sales of its H20 chips to China after the Trump administration indicated that it would approve export licenses.

Earlier this year, the administration said Nvidia would need a license approval to ship the chips, designed specifically for China.

“The U.S. government has assured NVIDIA that licenses will be granted, and NVIDIA hopes to start deliveries soon,” the company said in a statement Tuesday.

Huang said during a press conference on Wednesday in Beijing, China, that he wants to sell chips more advanced than the H20 to China at some point.

Huang wasn’t the only stakeholder to unload Nvidia shares. Board member Brooke Seawell sold $16 million worth of stock.

WATCH: H20 news should add 10% to Nvidia’s street estimates, says Deepwater’s Gene Munster

H20 news should add 10% to Nvidia’s street estimates, says Deepwater's Gene Munster

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Nvidia CEO Jensen Huang wants to sell more advanced chips to China after H20 ban is lifted

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Nvidia CEO Jensen Huang wants to sell more advanced chips to China after H20 ban is lifted

Jensen Huang, chief executive officer of Nvidia Corp., speaks to members of the media in Beijing, China, on Wednesday, July 16, 2025.

Na Bian | Bloomberg | Getty Images

Nvidia is looking to ship more advanced chips to China than its current generation, CEO Jensen Huang said on Wednesday, as he looks to revitalize sales in the world’s second-largest economy.

The comments come after Nvidia said on Monday that it will resume sales of its H20 artificial intelligence chip to China, reversing a previous ban. The H20 is a less-advanced semiconductor designed for AI workloads that comply with U.S. export restrictions to China.

“I hope to get more advanced chips into China than the H20,” Huang said during a press conference in Beijing, China, in response to a CNBC question.

“And the reason for that is because technology is always moving on … today Hopper’s terrific but some years from now we will have more and more and better and better technology, and I think it’s sensible that whatever we’re allowed to sell in China will continue to get better and better over time as well,” he said referencing Hopper, Nvidia’s chip architecture that the H20 is built on.

Nvidia has been caught in the crosshairs of U.S.-China tensions over trade and technology. The tech giant has faced several rounds of restrictions that have forced it to restrict access of its most advanced chips to China. In response, Nvidia has developed semiconductors that comply with export restrictions, such as the H20.

Nvidia took a $4.5 billion writedown on the unsold H20 inventory in May and said sales in its last financial quarter would have been $2.5 billion higher without any export curbs.

Huang has trod a fine line between praising U.S. President Donald Trump’s policies regarding reshoring chip manufacturing to America while also lobbying for change on curbs to China.

If all the AI developers are in China, the China stack is going to win, Nvidia CEO tells CNBC

The Nvidia boss has argued the Chinese AI market could be worth $50 billion in the next two-to-three years and that it would be a “tremendous loss” for American firms not to be part of that. Huang also told CNBC this year that Nvidia’s Chinese rival Huawei has “got China covered” if U.S. firms can’t participate in the market.

“Export control are things that are outside of our control and they can be quite disruptive to our business. It is our job only to inform the governments of the nature and the unintended consequences of the policies that they make,” Huang said during his visit to Beijing.

Nvidia has also laid out a roadmap to release more advanced chips, though it remains unclear if the U.S. government would allow Nvidia to sell more advanced products to Chinese companies. However, U.S. Commerce Secretary Howard Lutnick suggested on Tuesday that the government would continue to allow chip sales to China so that companies in the market rely on American technology.

“The idea is the Chinese are more than capable of building their own,” Lutnick told CNBC. “You want to keep one step ahead of what they can build, so they keep buying our chips.”

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