|Nvidia jumps after announcing an AI partnership with Baidu (NVDA)|
Jul. 5, 2017, 01:36 PM
Nvidia is popping after the company announced a partnership with China's biggest internet search company, Baidu.
Shares of Nvidia are up 3.27% on Wednesday following the announcement, and Baidu is up a similar amount, increasing 2.76%.
The partnership between the two companies hopes to tackle several areas of AI research, most notably self-driving cars.
"We believe AI is the most powerful technology force of our time, with the potential to revolutionize every industry," Ian Buck, Nvidia's vice president and general manager of accelerated computing, said in a press release. "Our collaboration aligns our exceptional technical resources to create AI computing platforms for all developers."
Baidu has agreed to adopt Nvidia's Dive PX self-driving car platform as it aims t0 have autonomous cars driving on Chinese roads soon. Nvidia's platform will be a key component in making this happen.
Additionally, Baidu announced several Chinese car manufacturers would be partnering with the company to help manufacturer self-driving cars.
The partnership doesn't stop with cars, though. The two companies will also be collaborating on improving Baidu's AI research capabilities. Baidu will deploy some of Nvidia's server hardware in its data centers. Nvidia's hardware should help researchers process data from images, speech text and video faster than before, according to the joint press release.
Nvidia and Baidu also announced they would be optimizing Baidu's "PaddlePaddle" deep learnings technology for Nvidia's GPUs and adding Baidu's DuerOS AI system to Nvidia's Shield TV set top box.
The partnership is just one more in a string of recent announcements from Nvidia. The company has been beefing up its partnerships with major car companies to increase its reach in the self-driving car market. Baidu is a particularly large partnership, as it adds to Nvidia's international reach.
Nvidia is up 40.86% this year, including Wednesday's move.