Nvidia platform for Chinese EV start-ups | Calamatta Cuschieri

Markets Roundup and Nvidia Chipmaker to provide AI platform for Chinese EV start-ups

European stocks finished in the red on Tuesday, as a global equity rout spread around the globe, with tech stocks particularly hard hit. The Stoxx Europe 600 fell 1% to 351.41, after closing at a three-week low on Monday. The FTSE 100 fell 0.7% to 6,946.42, while the German DAX 30 index dropped 1.5% to 11,067.63, the French CAC 40 index lost 1.3% to 4,921.32.

U.S. stocks closed sharply lower Tuesday, extending a pre-Thanksgiving rout that has been fueled mostly by a selling in shares of technology and internet-related companies, but has now spread to ensnare the broader market. The Dow Jones Industrial Average fell 2.2% to end at 24,465.64. The S&P 500 index was down 1.8%, at 2,641.9, while the Nasdaq Composite Index was off by 1.7% to finish at 6,908.82.

U.S. chipmaker Nvidia to provide AI platform for Chinese EV start-ups

U.S. chipmaker Nvidia Corp has signed separate deals with Chinese electric vehicle startups XPeng Motors, Singulato Motors and SF Motors to develop autonomous driving technology, Chief Executive Jensen Huang said on Wednesday.

Huang, speaking at an event in the eastern Chinese city of Suzhou, said XPeng and Singulato will use Nvidia’s artificial intelligence (AI) driving chip Xavier and its computing platform to develop hardware for autonomous driving, a strategic technology area in which China’s leaders want to compete globally. The companies separately said they will work on a series of projects from data collection to machine learning.

XPeng, in a statement, said it plans to implement level 3 intelligent driving features in its vehicles starting in 2020 using customized software and hardware developed with Nvidia and Huizhou Desay SV Automotive Co Ltd.

Level 3 in autonomous driving technology refers to drivers being able to turn their attention away from driving tasks but still requires them to respond immediately in some scenarios.

Singulato said it will use Nvidia’s Xavier platform to develop level 3 self-driving systems and eventually upgrade to level 4, in which vehicles are able to drive completely autonomously in most, but not all, conditions.

SF Motors, based in Silicon Valley in the United States, said it plans to launch its first electric crossover vehicle next year, and will develop its next-generation autonomous platform using Xavier.

Xavier is an artificial intelligence computing system-on-chip released by Nvidia earlier this year. Automakers using the chip can add specific software to adapt their vehicles to local traffic and infrastructure situations, Nvidia said.

 

Disclaimer: This article was issued by Nadiia Grech, Junior Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article are being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.

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