Nvidia shares are rallying on Tuesday after the company made announcements and updates regarding its plans to design and develop an artificial intelligence computer system that can program robo taxis to function with self driving technology. Nvidia also announced that it plans to produce an autonomous truck fleet.
Nvidia shares were up by more than 3% to $192.95 during Tuesday’s opening bell following the announcement. The company’s shares has recently been performing positively well due to growing sales in their gaming GPUs as well as their other products including their data center business which generated around $416 million last year. The gaming business of the company was also up by 54% year over year. Nvidia shares are now up by 77% year to date.
Just recently, the growing number of crypto currency miners have upgraded the outlook for Nvidia after analysts stated that it would send the prices of their graphics card by twice as high in the coming months.
According to Nvidia, the new system which will be called under the codename Pegasus will be able to handle Level 5 driverless vehicles which will be able to be operated completely by sensors and computers without the need of functions such as steering wheels, pedals or mirrors or people controlling it or any human interaction.
The Level 5 autonomous vehicle announcement was commended by analysts stating that the plans of the company is a huge step in the development of the technology compared to other industries who also intends to develop self-driving vehicles or autonomous cars.
The Drive PX Pegasus platform which will be used by Nvidia in driverless robo taxis would be developed by the company along with more than twenty five other partners.
GTC Europe made the announcement regarding the Pegasus added that it would be able to conduct more than 320 trillion operations each second making it more powerful than the Drive PX 2 which is the previous generation of autonomous driving technology from the company.
There is currently an upbeat outlook for the company’s stock price and earning as the company continuously expands its offerings in the past couple of years. After branching out from gaming GPUs to other computing needs, artificial intelligence, cloud computing, and the programming of machine learnings applications.
Aside from the Pegasus, Nvidia also announced that it has built the Holodeck photorealistic VR platform, an artificial intelligence ready platform which will offer designers and developers collaborative virtual environments. The Holodeck can also be used to train agents and send them into virtual space allowing designers or developers to test their creations in real-world conditions.
Join the best forex broker and follow us for more up to date news and latest stock market news.