Nvidia teams up with Tesla rival

Article Excerpt

NVIDIA CORP. $517 is a buy. The company (Nasdaq symbol NVDA; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 619.0 million; Market cap: $320.0 billion; Price-to-sales ratio: 21.6; Dividend yield: 0.1%; TSINetwork Rating: Average; www.nvidia.com) is finding new uses for its graphic chips beyond video games. Those include powering self-driving cars, datacentres and computer systems for artificial intelligence. For example, Chinese electric vehicle maker NIO Ltd. (New York symbol NIO) will use Nvidia’s Drive Orin system-on-a-chip to power its upcoming self-driving cars. NIO expects to launch those vehicles in 2022. Nvidia expects 20% of all new cars will have some form of self-driving capability by 2030. Nvidia is a buy for aggressive investors. investors…