Nvidia announced it will bring its artificial intelligence prowess to the exciting world of local logistics, and the stock is rising.
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Nvidia pops after announcing it will bring its AI dominance to delivery drones (NVDA)
Nvidia made a lot of announcements at its GTC China conference. The company is popping after announcing it formed a partnership on drone deliveries.
Shares of Nvidia are up 4.09% in early trading on Tuesday at $174.32 a piece.
If the phrase "local logistics" puts you to sleep, imagine a drone delivering pizza or your next Amazon order directly to your door. Nvidia is working to make that possible, the company announced at its GTC China conference.
The company announced it will be partnering with JD.com to bring AI smarts to delivery drones using Nvidia's Jetson platform. The Jetson chips bring low-power AI vision to drones developed by JD.com. The two companies said they are working to lower delivery costs to rural areas of China. The drones are currently able to carry about 66 pounds of cargo at about 62 miles per hour, according to the company's announcement.
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The partnership has lowered JD.com's delivery costs to rural areas by 70% in early stages of the partnership.
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