Here's Why Ambarella Stock Surged 10% Higher Today23 Sep 2021 10:57
We need to join the party soon.
I find it hard to believe that Qualcomm haven't got a few wins under its sleeve in China/Asia? 20 months since we announced with Qualcomm and they not won any business over there? Yehhh right.
Until Veoneer deal finalised we may not get anything from them. Bidding on a buy out would make a seller want more and more if the bidder was announcing $billions of wins. Be interesting to see what happens once the Veoneer deal is done & dusted.
What happened
Shares of Ambarella (NASDAQ: AMBA) climbed sharply higher Monday, surging as much as 10.8%, though the stock ended the trading day up 10.4%.
The company announced that it has partnered with a notable Chinese automaker to build a driver monitoring system, which is already rolling off the assembly line.
So what
In a press release on Wednesday, Ambarella revealed a collaboration with Dongfeng Fengshen -- a mid to high-end brand within the Dongfeng Motor Group -- to create a cutting-edge system to detect driver distraction and fatigue. The driver monitoring system (DMS) will be based on Ambarella's CV25 artificial intelligence, computer vision, and system-on-a-chip (SoC) technology. The system was included in Dongfeng Fengshen's Yixuan Max model, which launched on Sept. 1, 2021.
Sponsored Links
Should You Invest In Netflix? Learn all about their Rising Stock
eToro
The technology, dubbed a fatigue alarm system, will monitor the "driver's behavior and physiological state," to alert the user when they are placing themselves at risk. By tracking eye movements and objects in the surrounding area, the DMS can detect "when the driver is driving dangerously, including while distracted, fatigued, dozing, smoking, talking on the telephone, and other unsafe behaviors." If any of these situations is detected, an alarm will sound, notifying the driver within an established period of time.
Sign In
Follow the stocks
