Nvidia pops after announcing it will bring its AI dominance to delivery drones (NVDA)
Nvidia announced it will bring its artificial intelligence prowess to the exciting world of local logistics, and the stock is rising.
Shares of Nvidia are up 4.09% in early trading on Tuesday at $174.32 a piece.
If the phrase "local logistics" puts you to sleep, imagine a drone delivering pizza or your next Amazon order directly to your door. Nvidia is working to make that possible, the company announced at its GTC China conference.
The company announced it will be partnering with JD.com to bring AI smarts to delivery drones using Nvidia's Jetson platform. The Jetson chips bring low-power AI vision to drones developed by JD.com. The two companies said they are working to lower delivery costs to rural areas of China. The drones are currently able to carry about 66 pounds of cargo at about 62 miles per hour, according to the company's announcement.
The partnership has lowered JD.com's delivery costs to rural areas by 70% in early stages of the partnership.
"At no time in the history of computing have such exciting developments been happening, and such incredible forces in computing been affecting our future," Jensen Huang, CEO of Nvidia, said at the conference.
At the conference, Nvidia released its TensorRT 3 software. The software will speed up existing AI systems and could increase the speed of autonomous driving cars, for example. The company also announced an update to its CUDA AI programming platform, among other announcements.
Analysts have told Markets Insider that the company's tech simply is the best among its competition.
Nvidia is up 75.04% this year.
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