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Artificial intelligence (AI) could add more than $15 trillion to worldwide gross domestic product by 2030. Although Nvidia has become the face of the AI revolution, it'll be hard-pressed to keep up its staggering momentum.
Qualcomm's Automotive segment has shifted into a higher gear to start the new year. The company is indicating it will outperform its peers like Mobileye and Nvidia.
2024 hasn't exactly been kind to Mobileye (NASDAQ: MBLY ). Earlier this year, Mobileye warned in its preliminary fourth-quarter results that its customers had excess inventory of its EyeQ System-on-Chip (SoC), a chip built for automotive mobility solutions.
Mobileye (MBLY) expects full-year 2024 operating loss in the band of $468-$378 million.
Mobileye Global (MBLY) came out with quarterly earnings of $0.28 per share, beating the Zacks Consensus Estimate of $0.27 per share. This compares to earnings of $0.27 per share a year ago.
Autonomous driving is in the front seat as one of the biggest tech narratives taking hold of the auto industry. After pedestrian accidents involving General Motors' (GM) robotaxi service Cruise, self-driving innovators like Mobileye (MBLY) remain dedicated to implementing safety features while sharpening their infrastructure.
When autonomous driving tech specialist Mobileye Global Inc. NASDAQ: MBLY got smacked down on January 4 on a surprise cut in its revenue forecast, it was signaling trouble throughout the automotive chip industry.
Mobileye (NASDAQ: MBLY ) stock is trading lower today, although a major investor just disclosed that it has practically doubled its stake in the autonomous driving company. Based on a recently submitted regulatory filing, Israel Englander's Millennium Management owned 5.87 million shares of MBLY stock as of Jan. 4, which is equivalent to a 6.2% ownership stake.
Mobileye issued an ugly warning for 2024. The share price plummeted as expectations were reset for the self-driving car semiconductor business.
Mobileye CEO Amnon Shashua discusses the company's announcement of its DXP operating system. He speaks with Ed Ludlow on "Bloomberg Technology.