Nvidia Corp. (NASDAQ:NVDA) CEO Jensen Huang announced the chipmaker’s partnership with ride-hailing giant Uber Technologies Inc. (NYSE:UBER) will target global expansion of Robotaxis in the next two years.
30 Cities With Uber
During NVIDIA’s earnings call with investors on Wednesday, Huang shared updates about the company’s self-driving exploits. “Our partnership with Uber will power the robotaxi fleet across nearly 30 cities and 4 continents by 2028,” he shared.
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Huang also touted the chipmaker’s physical AI push, sharing that the NVIDIA CUDA cores, which are parallel processing programs that can handle several tasks at the same time, would enhance Robotics, autonomous vehicles, and embedded medical instruments, among other things.
“The next wave is physical AI. With billions of autonomous and robotic systems operating in the physical world,” Huang said during the conference call. Last fiscal year, NVIDIA’s automotive revenue hit a record $2.3 billion, which demonstrated a 39% surge.
Nvidia’s Earnings Call, Jensen Huang Bullish On Vera Rubin
The chipmaker reported its first-quarter revenue, which came in at $81.615 billion, up 85% YoY and beating the analyst consensus of $78.796 billion. NVIDIA’s datacenter revenue came in at $75.2 billion, which was up +92% YoY. NVIDIA’s adjusted earnings came in at $1.87 per share, which was ahead of Wall Street estimates of $1.76 per share.
Huang was also bullish on the NVIDIA Vera Rubin platform, saying that he expected AI companies to adopt the chip in their compute, sharing that the company was “growing share in inference very, very quickly.”
Uber’s $10 Billion Robotaxi Bet
Meanwhile, Uber has outlined a $10 billion investment commitment towards Robotaxis, with CEO Dara Khosrowshahi predicting that the autonomous vehicle sector represented a trillion-dollar total addressable market (TAM) for Uber. The company also has partnerships in place with Lucid Group Inc. (NASDAQ:LCID), Rivian Automotive Inc. (NASDAQ:RIVN), Alphabet Inc.-backed (NASDAQ:GOOGL) (NASDAQ:GOOG) Waymo and more.
NVDA Price Action: NVIDIA shares gained 1.17% at $223.20 during pre-market trading on Thursday.
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