Colette Kress, Nvidia’s CFO, boldly stated on a call with investors Wednesday that “nearly every automotive company working on AI is working with Nvidia.” And company revenues from the automotive industry rose 21% to a record $1.1 billion last year.
The tech giant thinks those good fortunes will continue. “We expect Nvidia’s automotive data center processing demand to grow significantly,” Kress added.
Nvidia currently works with several hundred companies in the auto world, including carmakers, truck makers, robotaxis, sensor manufacturers, and startups. Its high-profile automaker customers include Mercedes, Volvo, and Hyundai. And Tesla was one of the tech giant’s biggest customers in 2023, buying 15,000 of Nvidia’s most popular, super pricey AI chips (H100 GPUs), according to a report from D.A. Davidson.
It’s not necessarily just H100s that car companies use, though. Nvidia has a full software system that runs on its GPUs for self-driving vehicles called Nvidia Drive. It can be used for fully autonomous cars or as a co-pilot for human drivers.