Aurora's groundbreaking partnership with Nvidia for driverless trucks is turning heads, sparking a 50% surge in their stock. The labor market shows intriguing trends, with job openings up despite lower hiring rates. In corporate news, Meta has decided to end third-party fact-checking amid scrutiny. Tesla faces a downgrade, while Getty Images and Shutterstock are set to merge, reshaping the media landscape. Wells Fargo identifies 31 companies with high growth potential, hinting at exciting investment opportunities.
Aurora's partnership with Nvidia for driverless trucks represents a landmark shift in autonomous driving technology aimed at mass production by 2027.
Recent labor market data indicates strong job openings and economic expansion, despite slight declines in quits and hiring rates amid inflation concerns.
Deep dives
Autonomous Truck Development and Industry Partnerships
A significant advancement in autonomous driving technology is being spearheaded by Aurora, which has formed a strategic partnership with Continental and NVIDIA to deploy driverless trucks at scale. This collaboration aims to utilize NVIDIA's advanced Drive Thor system and Drive OS, integrating them into Aurora’s Level 4 autonomous driving system. The partnership marks a historic first in the industry, with plans for mass production of these driverless trucks set for 2027 and preliminary service launches in Texas anticipated for April 2025. Aurora's CEO emphasized that while introducing a single driverless truck is groundbreaking, scaling the deployment to thousands will fundamentally transform transportation and logistics.
Labor Market Indicators and Economic Trends
Recent data reveals a robust labor market, underscored by the November job openings and labor survey showing job openings increased to over 8 million, significantly exceeding expectations. Although both the quits and hiring rates saw declines, economic observers maintain that the overall health of the job market remains strong. Additionally, the ISM services index illustrated continued economic expansion, rising to 54.1 in December, which is above consensus projections. However, concerns about persistent inflation arose as price indices in the ISM report outperformed expectations, suggesting inflationary pressures may not be diminishing as anticipated.
Aurora soars after unveiling driverless truck partnership with Nvidia (0:20). November JOLTS shows interesting mixed picture (1:50). Meta ending 3rd-party fact-checking; Tesla downgraded (3:45). Getty Images and Shutterstock agree to merge (5:00).
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