Aurora Innovation’s Stock Booms Following Keynote Address at CES
Aurora Innovation (AUR) stock experienced a significant surge in value on Tuesday morning following the company’s latest partnership announcement during Nvidia CEO Jensen Huang’s keynote address at the Consumer Electronics Show (CES) on Monday.
Pre-Market Trading
In pre-market trading, Aurora’s stock climbed as high as 44% before adjusting its gains to a 40% jump. This remarkable increase in value demonstrates the significant impact of the partnership announcement on the company’s stock price.
Aurora’s Partnership with Continental and Nvidia
The collaboration between Aurora Innovation and German automotive parts manufacturing company Continental, announced Monday, will see the deployment of driverless trucks powered by Nvidia’s (NVDA) DRIVE Thor chips in the coming years. The Aurora Driver, which utilizes a SAE Level 4 system, is set to be mass-produced by Continental in 2027.
Key Highlights of the Partnership
- Production samples are scheduled to arrive in the first half of 2025.
- The partnership aims to deploy driverless trucks on public roads in the near future.
- Continental will manufacture the Aurora Driver at scale, enabling widespread adoption of autonomous trucking technology.
Aurora’s Previous Developments and Future Plans
Last January, Aurora Innovation revealed that it had more than two dozen trucks making autonomous deliveries in Texas through partnerships with Uber (UBER) and FedEx (FDX). Initially, the company aimed for a commercial launch by the end of 2024 but pushed back its debut to improve its software. On Monday, Aurora confirmed an April launch, starting with a single truck monitored remotely on a route from Dallas to Houston.
Aurora’s CEO Comments on the Partnership
"We’re working closely with Continental and Nvidia to bring our technology to market," said Chris Urmson, co-founder and CEO of Aurora Innovation. "Delivering one driverless truck will be monumental, but deploying thousands will change the way we live."
Nvidia’s Involvement in Self-Driving Technology
Nvidia has its hands in various self-driving initiatives worldwide. The company announced Monday that Toyota (TM) would use its DRIVE AGX Orin system-on-a-chip (SoC) technology for its next-generation vehicles’ driving assistance.
Nvidia CEO Jensen Huang on the Partnership and Future of Self-Driving Technology
"We’re working with just about every major car company around the world," said Huang at his keynote. "Waymo, Zoox, Tesla, BYD, JLR, Mercedes, Volvo, Waabi, Rivian, Lucid, and Xiaomi are all collaborating with us to bring self-driving technology to market."
Huang also highlighted the potential for a multi-trillion dollar robotics industry, with Nvidia’s business already exceeding $4 billion and expected to reach $5 billion this year.
Impact on Stock Price
Nvidia stock rose almost 3% in pre-market trading following Huang’s keynote. The company’s artificial intelligence boom has driven explosive growth in its stock price over the past year.
Conclusion
Aurora Innovation’s latest partnership with Continental and Nvidia demonstrates the company’s commitment to bringing autonomous trucking technology to market. With production samples set to arrive in 2025 and mass production expected in 2027, the partnership has significant implications for the future of transportation.
