"Nvidia's automotive revenue surged 72% year-on-year to $567 million, reflecting strong demand for self-driving technology and new energy vehicles."
"CFO Collette Kress projected a growth to $5 billion in automotive vertical revenue, driven by successful partnerships with major automakers."
"The development of self-driving cars is progressing rapidly, with Tesla and Waymo leading, but a direct link between EVs and self-driving features remains unclear."
"Despite expectations for over 80 million new car sales, the dominance of fossil fuel engines could persist for decades, challenging electric vehicle forecasts."
Nvidia's automotive revenue, growing at 72% year-on-year, reached $567 million, showcasing robust demand for self-driving and new energy vehicles. CFO Collette Kress indicated projected revenues could hit $5 billion this fiscal year, aided by collaborations with major automakers like Mercedes-Benz, Hyundai, and GM. Although Tesla and Google’s Waymo lead in self-driving tech, questions remain about the connection between electric vehicles (EVs) and self-driving capabilities, with fossil fuel engines possibly continuing to dominate the market for years to come.
Read at 24/7 Wall St.
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