NVIDIA Corporation (NASDAQ:NVDA) and TomTom, the Dutch mapping and navigation group, announced they are partnering to develop artificial intelligence to create a cloud-to-car mapping system for self-driving cars.
The work combines TomTom’s extensive HD map coverage, which already spans more than 120,000 km of highways and freeways, with the NVIDIA DRIVE™ PX 2 computing platform. Together, the solution accelerates support for real-time in-vehicle localization and mapping for driving on the highway.
NVIDIA co-founder and CEO Jen-Hsun Huang announced the collaboration at the company’s inaugural GTC Europe, a regional version of its annual GPU Technology Conference in Silicon Valley, now in its seventh year.
“Self-driving cars require a highly accurate HD mapping system that can generate an always up-to-date HD map in the cloud,” said Rob Csongor, vice president and general manager of Automotive at NVIDIA. “DRIVE PX 2 for AutoCruise provides TomTom with a real-time, in-vehicle source for HD map updates.”
The NVIDIA DriveWorks software development kit now integrates support for TomTom’s HD mapping environment. The open solution is available for all automakers and tier 1 suppliers developing autonomous vehicles.
“This collaboration is an important step for TomTom,” said Willem Strijbosch, head of Autonomous Driving at TomTom. “Combining our highly accurate HD maps with NVIDIA’s self-driving car platform will enable us to propose new features to automakers faster, and therefore to make autonomous driving a commercial reality sooner.” (Original Source)
Shares of Nvidia Corporation closed yesterday at $66.54, up $2.20 or 3.42%. NVDA has a 1-year high of $66.64 and a 1-year low of $23.47. The stock’s 50-day moving average is $62.11 and its 200-day moving average is $48.03.
On the ratings front, Nvidia has been the subject of a number of recent research reports. In a report issued on September 21, Brean Capital analyst Fawne Jiang reiterated a Hold rating on NVDA. Separately, on September 20, Susquehanna’s Christopher Rolland initiated coverage with a Hold rating on the stock and has a price target of $66.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Fawne Jiang and Christopher Rolland have a total average return of 10.6% and 8.3% respectively. Jiang has a success rate of 66% and is ranked #75 out of 4185 analysts, while Rolland has a success rate of 63% and is ranked #294.
Overall, 2 research analysts have rated the stock with a Sell rating, 9 research analysts have assigned a Hold rating and 11 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $66.53 which is 0.0% under where the stock closed yesterday.
NVIDIA Corp. is a visual computing company, connecting people through computer graphics. It is engaged in creating graphics chips, which is used in personal computers. The company operates through two segments: Graphics Processing Unit and Tegra Processor. The Graphics Processing Unit segment includes sales of the company’s GeForce discrete and chipset products that supports desktop and notebook PCs plus license fees from Intel and sales of memory products. The Tegra Processors segment provides processors that deliver superior visual and multimedia experience on tablets, smart phones and gaming devices while consuming minimal power.