![]() The German automaker is also taking an equity stake in. Luminar, a global automotive technology company, has announced a new partnership with Mercedes-Benz to provide LiDAR hardware and. Before the pandemic, Nvidia’s auto business was up to more than $700 million a year, growing at about 20%. Mercedes-Benz announced it will integrate Luminar’s lidar sensors into future production vehicles to enable autonomous driving capabilities. Luminar will provide its Iris to all upcoming Mercedes models. That’s down about 16% year over year, but the global semiconductor shortage has constrained auto production around the globe. What’s more, Nvidia sales to automotive customers over the past 12 months have come in at about $576 million. The company has a market capitalization of more than $770 billion as of Monday’s closing price of $308.10. That’s quite a compliment for a technology start-up, and being able to meet Nvidia’s requirements is a feather in the cap for Luminar. “Luminar is pioneering a unique, scalable solution that complements the platform.” ![]() “Our collaboration with Luminar bolsters the ecosystem of companies that are focused on building best-in-class technologies for enabling autonomous driving functionalities,” said Gary Hicok, Nvidia’s senior vice president of engineering, in Luminar’s news release. And with Luminar’s technology, Nvidia will have a complete package for auto makers including computing hardware and sensors as well as software developed by both companies. Now, the companys CFO is taking his rebuttal directly to shareholders. Nvidia’s products provide the computing power required for self-driving cars. Luminars shares have fallen 16 since the downgrade. All the lidar data coming in from sensors, of course, has to be understood and processed by a car’s computer. In the Mercedes S-Class, a lidar sensor is located in the front to produce a 3D environment display, along with a radar for distance and speed measurement. Luminar Russell is now the youngest self-made billionaire and one of just a. Lidar gives cars a way to see far down the road. Russell founded Luminar, which creates lidar sensors that help self-driving cars 'see' the road, as a teenager. Lidar is essentially laser-based radar and is a key enabling technology most auto makers believe are needed for self-driving cars. The two moves create almost $40 billion in market value. said it hired CJ Moore, a manager on Apple Inc.s car project and a former director for Autopilot projects at Tesla. ![]() At one point, Luminar stock was up more than 50% to almost $27 a share in premarket trading.
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