Luminar Technologies Shares Rise 20% After Technology Chosen By Nvidia
November 09 2021 - 1:01PM
Dow Jones News
By Chris Wack
Luminar Technologies Inc. shares were up 20% to $21 after the
company said its lidar solution has been selected to be part of the
sensor suite in the Nvidia DRIVE Hyperion autonomous vehicle
reference platform.
The technology company said the AI vehicle computing platform
accelerates development of autonomous consumer vehicles with
planned production starting in 2024.
Luminar said its lidar technology, paired with Nvidia's
centralized high-performance compute and AI software, will help
DRIVE Hyperion provide everything needed to develop production
autonomous vehicles.
DRIVE Hyperion will use one forward-facing long-range Luminar
Iris lidar in its Level 3 highway driving configuration. Iris'
custom lidar architecture is designed to meet the most stringent
performance, safety and automotive-grade requirements to enable
next-generation safety as well as assisted and autonomous driving
on production vehicles.
Volume for Luminar stock was 54 million shares at 12:25 p.m. ET,
compared to its 65-day average volume of 2.8 million shares.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
November 09, 2021 12:46 ET (17:46 GMT)
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