Cerence shares surge 65% on Nvidia collaboration expansion

Investing.com --Cerence Inc (NASDAQ: CRNC) shares jumped over 65% to $13.20 on Friday after the company announced an expanded collaboration with Nvidia (NASDAQ: NVDA) to enhance its large language models (LLMs) for the automobile industry.

Cerence is advancing its Automotive Large Language Model (CaLLM) using Nvidia AI Enterprise, a cloud-native software platform. The platform will boost computing power and incorporate agentic architecture for the models, enabling automakers to deploy generative AI solutions more efficiently.

The collaboration leverages Nvidia's advanced AI and accelerated computing technologies to improve performance and reduce costs for automaker clients integrating generative AI features for drivers, Cerence said.

Cerence specializes in voice generative AI LLMs tailored for automotive applications.

You May Also Be Interested In

• Investing.com’s stocks of the week
• Mizuho is bullish on Broadcom ahead of Sept. 2 earnings, citing 30-quarter streak
• Pinterest stock falls as CFO Julia Donnelly resigns