Nvidia the Latest to Get Off the Self-Driving Bandwagon
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.
Paramount Global is set to absorb Showtime into Paramount+, creating a single streaming option to compete with the likes of Netflix and Warner Bros. Discovery’s Max. The company also plans to raise the monthly price from $9.99 to $11.99 per month after the integration.
Debt ceiling talks are underway in Washington, DC ahead of a default deadline. Michael Rosen, chief investment officer with Angeles Investments, joined Cheddar News to explain how a potential default could affect investment portfolios, among other items, for Americans.
Australia's government announced regulations for buy now, pay later services, which will be labeled as consumer credit products, which puts them under the country's Securities and Investments Commission's watch.
Walmart is reportedly teaming up with pet telehealth provider Pawp, giving subscribers unlimited access to vet services via video and text, starting on Tuesday.
Cheddar News checks in to see what's on The Day Ahead, which will include earnings from Lowe's, Dick's Sporting Goods, BJ's and AutoZone along with new home sales data. In addition, Microsoft's Build 2023 Developer Conference is slated to kick off for software engineers and web developers.
Venmo will soon have accounts for teenagers ages 13-17 but they will have to follow a set of rules, with parents or guardians opening accounts on their behalf under their own accounts.
Rory Harvey, General Motors' incoming North American president, joined Cheddar News to discuss GM's foray into the rapidly-changing electric vehicle market along with what lies ahead. "It's a very dynamic time in the automotive industry," he said. "If you look to the transformation across the EVs, it's happening and it's happening at a pace."
