At the Hot Chips symposium, a technological event held every August on Stanford University’s campus where fellow processor makers offer new details about future designs, NVIDIA Corporation (NASDAQ:NVDA) announced its new Parker system on-chip (SoC) for Autonomous Vehicles.

As the graphics card giant continues making aggressive moves into the autonomous automative space, Needham top analyst Rajvindra Gill finds NVIDIA in a solid position to gain market share.

Note that the advantage of Parker is that it is scalable, lending automakers the ability to use individually or integrated into more complex designs. Gill highlights that a key benefit of NVDA’s new Parker SoC is its maximized performance, “capable of 24 trillion deep learning operations per second.”

The company’s complex design, the Drive PX2 can process inputs at a much higher level thanks to the level of this enhanced integration. In fact, Gill contends the Parker SoC will transform as “the driving force” behind the Drive PX2 platform.

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Gill believes, “A compelling advantage from this level of integration is that AI developers can leverage the same code for applications within the car as they are for programing communication to the network. Therefore, NVIDIA is able to handle a wide range of applications, from multiple input fusion, deep learning, and mapping to automotive display applications. Drive PX2 can simultaneously process the inputs of 12 video cameras, LIDAR, radar, and ultrasonic sensors.”

“This quarter NVIDIA launched its new Pascal GPU, which we believe is the greatest leap in performance and efficiency yet, capable not only of rich VR content but also ADAS processing,” the analyst adds.

Gill reiterates a Hold rating on shares of NVDA without listing a price target.

According to TipRanks, top five-star analyst Rajvindra Gill has achieved a high ranking of #51 out of 4,127 analysts. Gill upholds a 61% success rate while realizing 15.1% in his annual returns. When recommending NVDA, Gill earns 11.2% in average profits on the stock.

TipRanks analytics demonstrate NVDA as a Buy. Based on 21 analysts polled in the last 3 months, 12 rate a Buy on NVDA, 7 maintain a Hold, while 2 issue a Sell.