tech
This stock was the big winner from Nvidia's AI conference. Two analysts see a 30% rally from here
New details about Nvidia's partnership with Uber strengthen the bullish case for the ride-sharing stock, the analysts said.
TL;DR
- Uber plans to launch self-driving taxis powered by Nvidia technology in Los Angeles and San Francisco in 2024.
- The service is expected to expand to 28 global cities by 2028.
- Analysts from Bank of America and Deutsche Bank have reiterated buy ratings for Uber stock, citing the partnership as a positive development.
- Uber's established ride-hailing algorithm and user-friendly app are seen as advantages in the autonomous vehicle market.
- The company is positioned as a commercialization layer for AV technology providers and OEMs.