NVIDIA (NVDA 191.00, +5.61) has climbed 3.0% after making headlines at the GPU Technology Conference in Munich. The established technology company has benefited from growing recognition as of late due to its area of focus. Top-end video cards from NVIDIA can be used for cryptocurrency mining and the company has made significant advances in the area of autonomous driving.
NVIDIA's share price has reflected the surge in interest. The stock is up nearly 500.0% since the end of 2015 and up almost 80.0% so far in 2017. The spectacular run has expanded the stock's P/E ratio to 52.5 from 27.1 in January 2016.
Today's early strength comes after the company announced that its Pegasus system leverages the technology of the NVIDIA DRIVE PX platform to achieve full (level 5) autonomy. The DRIVE PX Pegasus executes more than 320 trillion operations per second, constantly scanning the vehicle's environment. Development kits will be available for automotive partners during the second half of 2018.
The company believes this breakthrough will pave the way to vehicles without steering wheels, pedals, or mirrors. Deutsche Post DHL Group announced that it has partnered with automotive supplier ZF to deploy a test fleet of autonomous delivery trucks. The fleet will use the NVIDIA DRIVE PX platform and the project is slated for next year.
The company also announced the opening of early access to NVIDIA Holodeck, an intelligent virtual reality platform for designers and developers. The software will enable developers to create and explore their creations in a collaborative virtual reality environment.