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1 Internet of Things Stock You’re Overlooking NVIDIA’s Tegra processors are powering the future of connected cars.
NVIDIA has a massive opportunity.
It’s called the Internet of Things.
And it will connect your car, home, utilities, cities, and billions of formerly unconnected things to the Internet.
For cars, this means they’ll not only connect to the Internet, but also drive themselves.
And this is where NVIDIA comes in.
The company’s high-powered Tegra chips are already used in autonomous car testing.
Like in this 560-horsepower Audi RS7.
And this A7 concept, that recently drove from San Francisco to Las Vegas almost entirely by itself.
The company just released its new autonomous driving platform, Drive PX, which can decipher between a delivery truck and an ambulance.
The system uses two Tegra X1 chips to power deep learning and situational awareness in autonomous vehicles.
The company is betting big that future vehicles will need more and more processing power.
And it’s right.
More than 6 million cars on the road already use NVIDIA’s processors for their infotainment systems.
But that’s not all.
“We see a future of autonomous cars, robots and drones that see and learn, with seeming intelligence that is hard to imagine.” Jen-Hsun Huang, CEO of Nvidia
To help reach that goal, NVIDIA has an Internet of Things development kit called Jetson TK1.
NVIDIA hopes developers will use the board to power small, embedded devices.
The company envisions Jetson TK1 being used for “compute-intensive systems for computer vision, robotics, medicine, and more.”
But for right now, it appears NVIDIA’s biggest Internet of Things opportunity is providing the brains for autonomous cars.
By 2025, 18 million vehicles on the road will be partially autonomous and 12 million will be fully autonomous, according to Boston Consulting Group.
And that’s helping to make the automotive segment the fastest-growing part of NVIDIA’s Tegra chip sales.
So while other tech companies are building new sensors and wireless connections for the Internet of Things, don’t forget who may be building the brains behind those devices.
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