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Luminar Technologies Shares Rise 20% After Technology Chosen By Nvidia

Written by corres2

By Chris Wack

Luminar Technologies Inc. shares were up 20% to $21 after the company said its lidar solution has been selected to be part of the sensor suite in the Nvidia DRIVE Hyperion autonomous vehicle reference platform.

The technology company said the AI vehicle computing platform accelerates development of autonomous consumer vehicles with planned production starting in 2024.

Luminar said its lidar technology, paired with Nvidia’s centralized high-performance compute and AI software, will help DRIVE Hyperion provide everything needed to develop production autonomous vehicles.

DRIVE Hyperion will use one forward-facing long-range Luminar Iris lidar in its Level 3 highway driving configuration. Iris’ custom lidar architecture is designed to meet the most stringent performance, safety and automotive-grade requirements to enable next-generation safety as well as assisted and autonomous driving on production vehicles.

Volume for Luminar stock was 54 million shares at 12:25 p.m. ET, compared to its 65-day average volume of 2.8 million shares.

Write to Chris Wack at chris.wack@wsj.com


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