Nvidia Nears Record High, Building Driverless Car With Baidu

By Markets MarketWatch Pulse

Nvidia Corp. [s:nvda], which has experienced strong gains since announcing efforts in autonomous driving and deep learning, received another bump Thursday after announcing a partnership with Baidu Inc. to build a driverless car. The chipmaker has been working with the Chinese tech firm on artificial intelligence efforts since 2012, according to The Wall Street Journal, and will now develop a full autonomous-driving platform in concert with Baidu, which has permission to test its driverless cars in California. Nvidia, which has recently traded at record highs, gained about 3% in Wednesday trading to top $63, putting it in position to top its all-time closing high of $63.04; Baidu also added 3% in U.S. trading.

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