April 13, 2024

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Luminar Shares Surge on Deal to Supply Lidar Sensors to Nvidia

Luminar  (LAZR) – Get Luminar Technologies Report stock soared on Tuesday, surging more than 55% in premarket trading, after the laser lidar startup said it will supply its sensors to Nvidia  (NVDA) – Get NVIDIA Corporation Report for a new autonomous vehicle technology platform that automakers will install in consumer cars and trucks.

Luminar stock was up 50.29% at $26.30 in premarket trading at last check following the announcement, which will see the company supply its long-range Iris lidar technology to Nvidia for its DRIVE Hyperion “systems on a chip” hardware that will be installed in cars and trucks.

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