At NVIDIA they are not satisfied. The rise of generative AI has made them one of the great technology companies, and they are taking advantage of that leadership to attack market segments in which until now their participation had been modest. The perfect example: autonomous driving systems.
what has happened. As indicated on BloombergNVIDIA has hired nearly 200 people for its Beijing headquarters to drive the development of autonomous driving systems.
A curious place to hire. That the company has decided to boost its Beijing headquarters for this effort probably has a simple explanation. Chinese regulators have recently launched an antitrust investigation against NVIDIAand the company may want to try to show its intention to continue investing in the country to alleviate possible tensions.
And income in China rises. NVIDIA does well to try to pamper the Chinese market, which despite the restrictions has become one of its biggest clients. Even with them, sales there amounted to $5.4 billion in the third quarter of the year.
But there is more. There is another factor that helps understand that decision. China is today the absolute protagonist in the electric car marketand it seems natural that autonomous driving systems – where they have already been seen notable developmentsbut also some tragedies— also take off with force. Focusing on this country is therefore especially strategic.
The staff grows. These hires confirm the growth of a company that has not only done so (in a big way) in terms of revenue and profits, but also in terms of its workforce. At the beginning of 2024 they had around 3,000 employees, and they will end the year with around 4,000.
Cruise abandons, NVIDIA takes advantage. This news contrasts with what we learned yesterday. General Motors has decided to close Cruise after a decade and a fortune invested in the robotaxi. It will focus on some of the advances made for autonomous cars for individuals, and it will be interesting to see if NVIDIA can take that baton and make relevant advances.