This morning most investors are going to be looking into those stocks that may have clocked notable gains on Wednesday and one of the stocks which could well be on the radars of many investors is that of Cepton Inc (NASDAQ:CPTN).
The company, which is an innovator from out of Silicon Valley and a major player in high-performance lidar solutions, saw its stock soar by as much as 17.50% yesterday. In light of such gains, it may be a good idea for investors to take a closer look and then figure out if the stock could be able to add to its gains over the coming days or not.
The company announced yesterday that it had gone into a collaboration with the behemoth NVIDIA. In this collaboration, the lidar models from Cepton are going to be integrated into the NVIDIA DRIVE Sim. A collaboration with such a major player is a major milestone for Cepton and hence, the rally in the stock was perhaps not surprising at all.
The product from NVIDIA is going to help self-driving vehicles and regular vehicle manufacturers in deploying lidar with far more ease. More importantly, this deployment is also going to reduce the real-world test driving of the vehicles substantially. In other words, this could lead to considerable savings for the manufacturers.
Through this collaboration with NVIDIA, Cepton is looking to accelerate the deployment of lidar in these industries across the world. The Co-founder and Chief Executive Officer of the company Dr. Jun Pei spoke about the matter as well.
Dr. Pei noted that lidar is an essential aspect of autonomous mobility, however, when it comes to deploying lidar at a reasonable scale it requires considerable testing. The collaboration with NVIDIA is going to take that problem out of the picture.