Will Nvidia (NVDA) Stock Gain on Self-Driving Car Mapping Partnership? - TheStreet

NEW YORK (TheStreet) -- Nvidia (NVDA) - Get Report said on Wednesday that it is partnering with TomTom, the Dutch mapping and navigation company,to develop a mapping system for self-driving cars. 

TomTom already has "extensive" HD map coverage, which will be combined with the Santa Clara, CA-based chipmaker's Drive PX 2 computing platform, the companies said.

"Self-driving cars require a highly accurate HD mapping system that can generate an always up-to-date HD map in the cloud," Rob Csongor, VP and general manager of automotive at Nvidia, said in a statement.

"DRIVE PX 2 for AutoCruise provides TomTom with a real-time, in-vehicle source for HD map updates," he added.

Additionally, Nvidia's DriveWorks software development kit now integrates support for TomTom's HD mapping environment. The open solution is available for all automakers and tier 1 suppliers developing autonomous vehicles.

Shares of Nvidia were declining in mid-afternoon trading today.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of A on Nvidia stock.

The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and good cash flow from operations.

The team believes its strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: NVDA

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