Cyngn Shares Jump After It Says Following Tesla's Strategy, Shifts to Nvidia AI Computers For Autonomous Vehicles

-7.38%

-4.30%

-3.27%

+2.70%

CYNGN Inc. CYN	3.64	-7.38%
Intel Corporation INTC	37.81	-4.30%
NVIDIA Corporation NVDA	175.02	-3.27%
Tesla Motors, Inc. TSLA	458.96	+2.70%

Cyngn Inc. (NASDAQ:CYN) shares are trading higher after the company disclosed a strategic shift to Nvidia Corporation (NASDAQ:NVDA) AI computers that will transform the technology powering its fleet of DriveMod autonomous industrial vehicles.

Following Tesla, Inc‘s (NASDAQ:TSLA) Autopilot hardware path, Cyngn said it is embarking on an initiative to transition from Intel Corporation (NASDAQ:INTC) microprocessors to Nvidia AI computers.

This transformation will encompass the entire DriveMod lineup, including the DriveMod Tugger, the DriveMod Stockchaser, and the DriveMod Forklift.

The company said that the processing power and development ecosystem offered by Nvidia’s computers align with its vision for the future of robotic autonomous platforms.

“We are convinced that Nvidia’s AI computers are the clear winner when it comes to powering advanced robotics platforms like DriveMod. This initiative is in line with our continuous investment in R&D as evident from our rapidly growing patent portfolio,” said Cyngn’s Chairman and Chief Executive Officer, Lior Tal.

Price Action: CYN shares are trading higher by 23.6% to $0.2260 on the last check Thursday.

Photo via Company

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