Nvidia (NVDA) and Jaguar Land Rover have joined forces to redefine modern luxury in the auto industry while leveraging artificial intelligence (AI) technology. As part of the Reimagine strategy, the automaker is to develop cars featuring the NVIDIA DRIVE Hyperion 8 Platform.
Nvidia is a U.S. company that designs, manufactures, and sells computer graphics processors, chipsets, and related multimedia software.
Integration of the Hyperion 8 Platform should result in Jaguar Land Rover vehicles featuring a wide spectrum of active safety and automated driving systems. The vehicles will also come with driver assistance systems and AI features to enhance driver and occupant monitoring.
Jaguar Land Rover will also work with Nvidia to develop software-defined features that will continuously improve automated driving and intelligent features. The ultimate goal is to try and transform customers’ experiences in every step of their journey.
According to Jaguar Land Rover CEO Thierry Bolloré, the long-term strategic partnership with Nvidia should enhance the company’s push to become a global digital powerhouse. NVIDIA CEO Jensen Huang expects fleets of software-defined cars to offer new functionalities and services, therefore, enhancing drivers’ experiences.
Piper Sandler analyst Harsh Kumar recently reiterated a Buy rating on Nvidia stock with a price target of $350. Kumar’s price target suggests 32.02% upside potential. According to the analyst, Nvidia’s gaming and data center segments are expected to continue to perform well.
Consensus among analysts is a Strong Buy based on 21 Buys and 3 Holds. The average Nvidia price target of $356.25 implies 34.38% upside potential to current levels.
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