NVIDIA (NVDA) Partners With Volvo Cars And Autoliv Select
Zacks Investment Research | Jun 28, 2017 09:39PM ET
NVIDIA Corporation (NASDAQ:NVDA) recently announced a partnership with Volkswagen (OTC:VLKAY) , Volvo and Autoliv, Inc. (NYSE:ALV) to develop next-generation software systems for self-driving cars
The three companies will work together along with Zenuity, a newly formed automotive software development joint venture owned by Volvo and Autoliv, equally. These companies will use Nvidia's artificial intelligence car computing platform. This move is expected to take artificial intelligence (AI) and self-driving cars technologies to new highs.
The new software system will help in utilizing artificial intelligence to recognize objects around vehicles, predict danger and depict safety roadmap. This venture will see the respected automotive safety companies collaborate with a leading artificial intelligence company.
The two companies have now decided to put advanced AI cars on the road by 2021.Per the deal, Autoliv, Volvo, and Zenuity will use NVIDIA's AI car computing platform as the foundation for their advanced software development. The three companies share the same vision of safe, autonomous driving. This cooperation will advance autonomous driving product and solution offerings to the market.
Huge Growth Potential of the Industry
According to data available from BI intelligence, 10 million self-driving cars will be on the road by 2020. Per Statista, the market for fully autonomous vehicles will grow to almost $6 billion while partially autonomous vehicles market will reach $36 billion by 2025. According to Boston Consulting Group estimates, the autonomous car market will be worth $42 billion by 2025 and $77 billion by 2035.
These estimates encourage us about NVIDIA’s growth prospects in the space. With its sustained focus on developing new and more advanced technologies for self-diving cars, we believe that the company is well poised to capitalize on this opportunity. Estimates provided by various research firms further encourage us about NVIDIA’s growth prospects in the space.
Share Price
NVIDIA remains one of the best performers in the semiconductor space. The stock has gained 222.8% in the last one year, outperforming the Zacks categorized Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.