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We recently compiled a list of the 8 Companies That Partnered With Nvidia (NVDA) This Month. In this article, we are going to take a look at where Uber Technologies, Inc. (NYSE:UBER) stands against the other stocks that partnered with NVIDIA this month.
Nvidia continues to be the biggest beneficiary of the rampant spending on AI infrastructure. The company’s Blackwell GPUs continue to be the most talked about technology in tech circles and that has catapulted the stock close to its all-time highs.
For many, the stock continues to be an expensive bet and at current levels, it is hard to pull the trigger and invest in the company's stock. If you’re in the same boat and find it hard to buy a stock at its all-time highs, you may want to consider investing in companies that work with Nvidia. Nvidia’s accelerated computing technologies are powering many companies' products, especially those related to AI and autonomy.
A close up view of a hand holding a smartphone, using a ride sharing app.
Uber Technologies, Inc. (NYSE:UBER)
Uber, with the vast network of cars that already operate through its app, is one of the best stocks to benefit from autonomous vehicle technology. Uber sits on large amounts of data, gathered from the billions of trips completed on its network annually in over 70 countries.
If Uber can feed this data to Large Language Models to train the future fleet of robotaxis, it won’t need to pay the drivers that operate on its network. It will also massively improve the efficiency of its operations. This is where Nvidia comes in. With Nvidia’s expertise in accelerated computing, the mobility company can reduce the time it will take to achieve autonomy.
This is the exact sentiment that was echoed by Uber CEO Dara Khosrowshahi:
By working with NVIDIA, we are confident that we can help supercharge the timeline for safe and scalable autonomous driving solutions for the industry
Uber already collaborates with Waymo and Avride, but this partnership will boost the speed at which the company can achieve its autonomy objectives.
Overall UBER ranks 7th on our list of the companies that partnered with NVIDIA this month. While we acknowledge the potential of UBER as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as UBER but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article was originally published at Insider Monkey.