NVIDIA Corporation (NVDA) Stock: Gaining On Partnership News

NVIDIA Corporation (NASDAQ: NVDA) is having a pretty strong day in the market today after announcing that it has entered into a partnership surrounding self-driving vehicles, artificial intelligence, and more. As the race to the first self-driving vehicle and the best AI on the market intensifies, it seems as though all the big players in tech are getting onto the playing field. The news is obviously exciting investors, leading to gains and prompting our partners at Trade Ideas to alert us to the movement. At the moment (10:57), NVDA is trading at $142.71 per share after a gain of $3.38 per share or 2.43% thus far today.

NVDA Gains On Self-Driving Car Partnership

As mentioned above, NVIDIA is having a pretty strong day in the market today after announcing that it has entered into a broad partnership surrounding self-driving vehicles. The partnership was entered into with Baidu (NASDAQ: BIDU). The goal of the partnership is to bring the world’s leading artificial intelligence technology to cloud computing, self-driving vehicles, and artificial intelligence home assistants. Ultimately, the partnership surrounds several key points, including:

  • Bringing next-generation NVIDIA® Volta(TM) GPUs to Baidu Cloud. Ultimately, the idea is to provide cloud customers with the world’s leading deep learning platform.
  • Baidu also plans on adoption of the DRIVE(TM) platform by NVDA for the self-driving car initiative at BIDU. The plan here is to develop self-driving cars with major Chinese auto manufacturers.
  • There is also a plan to optimize Baidu’s PaddlePaddle open source deep learning framework for NVIDIA Volta GPUs and make it widely available to academians and researchers.
  • Finally, the two companies aim to bring artificial intelligence capabilities to Chinese consumers by adding Baidu’s DuerOS conversational AI system to NVIDIA SHIELD(TM) TV.

In a statement, Ian Buck, Vice President and General Manager of Accelerated Computing at NVDA, had the following to offer:

NVIDIA and Baidu have pioneered significant advances in deep learning and AI… We believe AI is the most powerful technology force of our time, with the potential to revolutionize every industry. Our collaboration aligns our exceptional technical resources to create AI computing platforms for all developers – from academic research, startups creating breakthrough AI applications, and autonomous vehicles.”

Following the above statement, Baidu President and COO Qi Lu had the following to offer at a company event:

Today, we are very excited to announce a comprehensive and deep partnership with NVIDIA… Baidu and NVIDIA will work together on our Apollo self-driving car platform, using NVIDIA’s automotive technology. We’ll also work closely to make PaddlePaddle the best deep learning framework; advance our conversational AI system, DuerOS; and accelerate research at the Institute of Deep Learning.”

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on NVDA. In particular, we’re interested in learning more about the partnership between the company and BIDU and excited to see the results of this partnership in the future. We’ll continue to follow the story closely and bring the news to you as it breaks!

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