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Shares of Ambarella Inc (AMBA, Financial) surged 4.22% in mid-day trading on Oct 2. The stock reached an intraday high of $56.57, before settling at $56.51, up from its previous close of $54.22.
AMBA is expanding in the auto market through collaborations and customer acquisitions. The company gains Lotus as a client.
Ambarella (NASDAQ: AMBA), an edge AI semiconductor company, has announced that its Oculii AI 4D imaging radar technology is now in the 2023-2024 Lotus Eletre electric hyper-SUV and the 2024 Lotus Emeya hyper-GT. These vehicles feature L2+ semi-autonomous systems, including highway navigation on autopilot (NOA) and automatic emergency braking (AEB), supported by the radar's ultra-long detection range of over 300 meters for enhanced safety.
Ambarella announced that its Oculii™ AI 4D imaging radar technology is deployed worldwide in the Lotus Eletre SUV and Emeya Hyper-GT Electric Vehicles.
Ambarella faces several headwinds, including a slowdown in the automotive space, stiff competition and inventory accumulation of its customers.
The chipmaker, which specializes in edge AI products, delivered a better-than-expected second quarter. It also notched a convincing beat on quarterly revenue guidance.
Ambarella beat sales expectations and posted a smaller-than-expected loss in Q2. The company also issued encouraging guidance.
AMBA's second-quarter fiscal 2025 results reflect the benefits of improving IoT and Auto segments combined with prudent cost management.
Ambarella's Q2 results exceeded expectations in revenue and in earnings per shares, driving an 18% stock price jump today. The company's optimistic outlook, particularly in the automotive and IoT sectors, and strong product positioning in AI and computer vision bolstered investor confidence. Ambarella's unique vision-language model and real-time camera feedback technology provide a competitive edge, potentially justifying a higher share price.
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