Luminar Surges On Plan To Supply Laser Sensors For Nvidia’s Self-Driving Car Platform
Nvidia aims to supply the DRIVE Hyperion system, powered by its Orin “systems on a chip”computing hardware, AI-enabled software and Luminar’s long-range Iris lidar, to automakers starting in 2024, Luminar said at Santa Clara, California-based Nvidia’s annual GTC conference. The platform, which also integrates cameras and radar for additional sensing capability, includes everything needed for mass-production vehicles to operate autonomously in highway driving, Nvidia said earlier this year.
“The goal is to be able to do hands-off, eyes-off driving under select conditions—specifically, on highways and freeways,” Luminar CEO and founder Austin Russell tells Forbes. The DRIVE Hyperion system will also enable better assisted driving and “is absolutely going to be an opportunity as a huge growth driver” for Luminar, he said.
Lidar, which allows autonomous vehicles to “see” their surroundings in 3D, in daylight or at night, has become a critical technology for self-driving tech developers. In contrast to early industry leader Velodyne, which pioneered spinning, multi-laser lidar sensors to create detailed “point cloud” maps, Luminar’s approach is a lower-cost single laser system that the company says requires less energy to operate. Luminar says its Iris sensor detects objects 250 meters ahead of a vehicle that’s traveling at highway speed and will cost between $500 and $1,000 per vehicle, depending on production volume.
Luminar rose 22% to $21.39 at 11:23 a.m. New York time in Nasdaq trading on Tuesday. Nvidia was up about 2% to $313.78 at 11:24 a.m.
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