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The Key Takeaways
- Aurora Innovation shares surged in value Tuesday after it announced a partnership with a company to create driverless trucks.
- Continental will help the company develop a large-scale manufacturing plan for equipment starting in 2027. The software to drive autonomous vehicles is being developed by Nvidia.
- Nvidia also announced partnerships with Toyota and Uber late Monday for the companies to use Nvidia's driver assistance and self-driving software.
Aurora Innovation shares (AUR) jumped by more than 35 percent on Tuesday after the company’s self-driving technology announced a Monday partnership with Nvidia, NVDA and Continental for self-driving vehicles.
Nvidia will collaborate with Aurora to create the hardware and software necessary for the truck to run. According to a press release. Continental will begin producing the necessary equipment for the autonomous trucks to function, said the companies late on Monday.
“Delivering one driverless truck will be monumental. Deploying thousands will change the way we live,” Aurora CEO Chris Urmson stated. “NVIDIA is the market leader in accelerated computing, and they’ll strengthen our ecosystem of partners and our ability to deliver safe and reliable driverless trucks to our customers at scale.”
Aurora said it is in the "final stages of validating" its Aurora Driver system to be operated on the road without a driver. According to the company, its system can be used in both small passenger cars and semi-trucks.
Nvidia announced separate deals late Monday to supply its driver assistance software to Toyota and to Uber (UBER), to deliver driverless software into Uber cars.
Aurora shares are up by more than 35 percent and recently have reached their highest level since the beginning of 2022. Nvidia’s shares fell about 5% on Tuesday while Uber was flat.
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