Aurora Stock Jumps on Autonomous Driving Partnership With Nvidia, Continental

Key Takeaways

Shares of Aurora Innovation ( AUR ) jumped more than 35% Tuesday morning after the self-driving software company announced on Monday a partnership with tech giant Nvidia ( NVDA ) and manufacturer Continental to develop self-driving trucks.

Nvidia and Aurora will work together to develop the software and hardware necessary to operate the trucks, according to a news release. Continental expects to start manufacturing the equipment needed for the driverless trucks to operate, the companies said late Monday.

“Delivering one driverless truck will be monumental. Deploying thousands will change the way we live,” Aurora CEO Chris Urmson said. “NVIDIA is the market leader in accelerated computing, and they’ll strengthen our ecosystem of partners and our ability to deliver safe and reliable driverless trucks to our customers at scale.”

Aurora said it is in the "final stages of validating" its Aurora Driver system to be operated on the road without a driver. The company says its system should be capable of being used for smaller passenger vehicles as well as semi-trucks.

Separately late Monday, Nvidia also announced self-driving related deals to provide its software for driver assistance programs to Toyota, and with Uber ( UBER ) to bring driverless software to Uber cars.

Aurora shares were up more than 35%, and have recently reached their highest levels since early 2022. Nvidia shares were down about 5% Tuesday, while Uber shares were flat.

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