Shares of Nvidia plunged Tuesday after the chipmaker said it would suspend testing of its autonomous vehicle technology globally.
But the Verge’s Andrew Hawkins doesn’t think the company will exit the industry entirely.
“I think that they’re trying to be cautious,” the transportation reporter said. “Nvidia has obviously been in this space for a number of years. They claim to have over 300 clients that they’re working with...so they’re still looking to stay very active in this space.”
Nvidia creates the artificial intelligence systems on which self-driving cars are built. The company has been testing its platform in New Jersey and California, as well as overseas in Japan and Germany.
One of its clients is Uber, which last week halted its own tests in the wake of a fatal crash in Arizona.
That state’s governor, Republican Doug Ducey, on Monday took the decision out of Uber’s hands, suspending the ride-hailing company himself.
Hawkins said the move marked a sharp reversal in Arizona’s attitude towards the technology.
“Up until this point, Arizona has been very welcoming of autonomous vehicle testing. It has a very light regulatory touch,” he said. “There’s really...nothing in the way of requirements for companies.
“At the same time, it seems like Governor Ducey...has a delicate balance to strike here -- being strict with Uber because they killed somebody [and] at the same time not looking like he’s looking to shut down the entire industry.”
Uber’s accident -- the first known death involving a self-driving car -- has thrown the entire autonomous vehicle industry into a soul-searching tailspin.
But it hasn’t irked rival Waymo.
The unit of Google parent Alphabet unveiled a partnership with Jaguar Tuesday, which will outfit 20,000 of its SUVs with its self-driving technology, aiming to roll out a fleet by 2020.
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Stocks opened slightly higher after Monday's opening bell after several weeks of gains as the year closes out.
