NVIDIA (NVDA) entered CES 2023 with a series of major announcements on Tuesday, including the announcement of its association with Foxconn, which will begin manufacturing electric vehicles based on Nvidia’s Drive Hyperion platform. The company also announced new graphics chips for laptops and improvements to its GeForce Now game streaming platform.
Automotive news doesn’t mean that Nvidia is getting into building vehicles itself. Rather, Foxconn, which is expanding its manufacturing capabilities to build electric vehicles for third-party automakers such as Lordstown Motorswill use Nvidia’s Drive Hyperion platform to build cars.
Drive Hyperion is a reference and development that consists of a software and hardware suite intended to help car manufacturers accelerate the production of autonomous vehicles.
“Our partnership with Foxconn will provide OEMs developing intelligent driving solutions with a world-class supplier that can scale for volume manufacturing of the Nvidia Drive Orin platform,” said Rishi Dhall, vice president of automotive. at Nvidia, in a press release.
“Foxconn’s decision to also use the Drive Hyperion sensor suite for its electric vehicles will help accelerate their path to production without compromising safety, reliability or quality,” Dhall added.
Nvidia is increasingly diving into the automotive market, developing the sensors and software automakers will need to ensure their vehicles can eventually navigate the world without driver intervention.
However, the company’s efforts in the automotive sector represent only a small part of its overall revenue. Of Nvidia’s $5.93 billion in third-quarter revenue, the automotive group only raked in $251 million. Its gaming and data center businesses, meanwhile, brought in $1.57 billion and $3.83 billion, respectively.
Apart from its agreement with Foxconn, Nvidia has also launched its latest graphics chips for laptops, ranging from the entry-level RTX 4050 chip to the high-end RTX 4090 card. According to the company, laptops running on RTX 40-series chips should deliver up to four times the performance in games like “Cyberpunk 2077,” while delivering three times the power efficiency of previous-generation chips. Nvidia.
If you’re hoping to get your hands on a laptop running an RTX 4080 or RTX 4090, you’ll need to be prepared to shell out the cash. We’re talking about a starting price of $1,999. Cheaper laptops with Nvidia’s RTX 4050, meanwhile, will start at $999.
In addition to the new chips, Nvidia announced that it is updating its GeForce Now cloud gaming platform. The service, which lets you stream games to your internet-connected devices, will now run on Nvidia’s RTX 4080 graphics cards. Essentially, this means gamers will be able to do things like stream games at 240fps and enable ray tracing for supported games to improve overall illumination.
The update, however, is only available through the GeForce Now Ultimate tier, which costs $19.99 per month. Basic level subscriptions cost $9.99 per month but do not include the new enhancements.
Finally, Nvidia also announced that GeForce Now will soon be available for streaming in vehicles. The company says Hyundai, BYD and Polestar are working with it to bring game streaming to their main infotainment units on the front seat and rear screens when available. Of course, the function is only available for front passengers when the car is parked.
The news from Nvidia comes at a difficult time for the graphics chip giant. Consumers are buying far fewer PCs than during the pandemic, and its stock price is down about 50% in the past 12 months. It’s not just Nvidia, though. Shares of Intel rivals (INTC) and AMD (AMD) have declined by 48% and 54%, respectively, over the past year.
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