Uber Technologies (UBER) and Nvidia (NVDA) have teamed up to boost the development of autonomous driving. By combining Uber’s vast data from millions of trips with Nvidia’s AI technology, the companies aim to accelerate the growth of safe and scalable self-driving vehicles.
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Using Data and AI to Improve Speed and Accuracy
According to the deal, Uber’s data on real driving conditions will be combined with Nvidia’s AI platforms, like Cosmos and DGX Cloud. Notably, Cosmos is a platform that processes data quickly for improving self-driving algorithms. Meanwhile, DGX Cloud is an AI system that uses cloud computing to train machine learning models faster. These systems are built to handle large data volumes quickly, making it easier to improve autonomous car software.
Another key goal is to make AI development tools more affordable and available to others in this space. By lowering costs and resource barriers, the deal aims to make it easier for more companies to enter the autonomous vehicle space and speed up progress in the industry.
Uber CEO Dara Khosrowshahi noted that the future of mobility will rely on AI and the need for strong data and computing power. He added, “By working with NVIDIA, we are confident that we can help supercharge the timeline for safe and scalable autonomous driving solutions for the industry.”
Is UBER Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Uber is Strong Buy based on 33 Buy and two Hold ratings over the last three months. After a 12% increase in its share price over the past year, the average UBER price target of $93.35 per share implies 40.8% upside potential.
Is Nvidia Stock a Buy?
Turning to Wall Street, the analysts’ consensus rating for NVDA is Strong Buy based on 37 Buy and three Hold ratings over the last three months. After a 186% increase in its share price over the past year, the average Nvidia price target of $177.08 per share implies 18.5% upside potential.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
