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Aurora Stock Jumps on Autonomous Driving Partnership With Nvidia, Continental
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Main points
- Shares of Aurora Innovation soared Tuesday morning after the company announced a new partnership to develop driverless trucks.
- The company will work with Nvidia to develop autonomous driving software and Continental to mass-produce the equipment starting in 2027.
- Nvidia also announced late Monday partnerships with Toyota and Uber to let the companies use Nvidia’s driver assistance and autonomous driving software.
Aurora Innovation stock (goldShares were up more than 35% on Tuesday morning after the self-driving software company announced a partnership with tech giant Nvidia on Monday (NVDA) is teaming up with manufacturer Continental to develop self-driving trucks.
Nvidia and Aurora will work together to develop the software and hardware needed to operate the truck, according to a press release. Continental said late Monday it expected to start manufacturing equipment needed to operate driverless trucks.
“Delivering one driverless truck will be monumental. Deployment of thousands will change the way we live,” said Aurora CEO Chris Urmson. “NVIDIA is the market leader in accelerated computing, and they will strengthen our partner ecosystem and our ability to deliver safe and reliable autonomous trucks at scale to our customers.”
Aurora says its Aurora Driver system is in the “final stages of validation” and can operate on the road without a driver. The company says its system should be able to be used on small passenger cars and semi-trucks.
On Monday night, Nvidia also announced an autonomous driving-related deal to provide Toyota with driver assistance project software. and Uber (Uber) to introduce self-driving software to Uber cars.
Aurora shares are up more than 35% and recently reached their highest level since early 2022. Nvidia shares fell about 5% on Tuesday, while Uber shares were flat.
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