(Markets Insider)– Nvidia’s stock price is rallying after the company kicked off CES with the first keynote and a string of new products and partnerships.
Nvidia is trading up 3.13% at $222.05 a share on Monday after the company announced a partnership with Uber, new autonomous driving chips, and new gaming displays.
In the first speech of this year’s CES, Nvidia CEO Jensen Huang announced a new partnership with Uber. The ride-hailing company has been working on developing self-driving cars and selected Nvidia as its artificial intelligence and autonomous driving technology provider.
In the same speech, Huang said that an update to the company’s self-driving technology will begin delivering this quarter. The “Drive” series of chips were hailed as a way for car makers to eliminate a trunk full of computers in their self-driving cars.
The new Xavier chip is what Nvidia calls “the world’s most powerful system on a chip” is set to go out to customers this quarter, and should provide a speed and power consumption upgrade over previous generations.
Nvidia got its start in gaming and didn’t leave its most loyal customers out of the keynote. The company announced new “Big Format Gaming Displays,” which combine giant monitors with improved refresh rates needed for better gaming performance. Several companies are working on incorporating Nvidia’s tech into their displays, and they are expected to be available this summer.
The company also revealed that its streaming-game platform will be available to most Windows-based computers in an open beta format. The platform allows users to run high-end video games on Nvidia’s machines, and stream the game to any computer with minimal lag. The idea is that users will be able to play games on their computers, even if they aren’t wielding the latest graphics card and processor.
“We believe there were numerous incremental takeaways on recent growth and potential new C18/F19 product activity,” Craig Ellis, an analyst at B. Riley, said of the keynote, on Monday.
Nvidia is up 106.4% over the last year.
Source:: Markets Insider