Uber Stocks Surge with Nvidia Partnership for Autonomous Technology
Investing.com -- Shares of Uber Technologies Inc (NYSE:UBER) surged by up to 3.2% following the announcement of a strategic partnership with Nvidia Corp (NASDAQ:NVDA) aimed at accelerating the development of autonomous driving technology. The collaboration, recently outlined in a press release, seeks to advance Uber's capabilities in autonomous vehicles (AVs) by leveraging Nvidia's artificial intelligence platforms. Uber's CEO, Dara Khosrowshahi, stated, "Generative AI will power the future of mobility, which requires both rich data and very powerful computation." Khosrowshahi believes that working with Nvidia will significantly speed up the process of creating safe and scalable autonomous driving solutions.
Data generated from Uber's millions of daily rides will be utilized alongside Nvidia's Cosmos platform and DGX Cloud to help AV partners develop more robust AI models. Nvidia Cosmos is designed to eliminate cost and resource barriers in developing physical AI systems such as robots and autonomous vehicles. DGX Cloud offers a high-performance, fully managed AI platform that facilitates AI model development across multiple cloud environments.
Norm Marks, Nvidia's Vice President of Automotive, expressed his excitement about the collaboration, noting that Uber is one of the first mobility leaders to adopt these platforms. This partnership is expected to enhance the AV ecosystem with advanced vehicles and platforms, with more details to be shared throughout the year.
Uber's strategic move reflects the company's efforts to position itself at the forefront of the AV industry, a field that continues to attract investor interest. The market's positive response to this news underscores the importance of AI and AV technology in shaping the future of transportation.
This partnership is a clear indication of Uber's commitment to innovation in the rapidly evolving autonomous driving sector, highlighting the potential for transformative changes in how people and goods are transported. While both companies are expected to benefit from this collaboration, investors will closely monitor its impact on Uber's growth trajectory and its position in the competitive landscape of autonomous mobility.