Israeli automotive chip technology company I raise robots (Nasdaq: ARBE; TASE: ARBE) rose 64% on the Nasdaq, giving a market value of $362 million after announcing a collaboration with chip giant Nvidia.
Arbe, founded by CEO Koby Marinko, announced that it is working with Nvidia to enhance its free-space mapping and artificial intelligence capabilities to further advance the automotive industry. Arbe’s high-resolution radar will integrate with the Nvidia DRIVE AGX in-vehicle computing platform for hands-free driving and real-time safety applications. The solution will be presented at CES 2025 this month in Las Vegas.
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At the heart of Arbe’s innovation is the AI-powered processing of an exceptionally dense, high-resolution point cloud, providing long-range detection capabilities in all weather and lighting conditions, with minimal false alarms in both urban and highway environments.
Arbe Robotics is developing a chip for automotive imaging radars, intended for safety applications and autonomous vehicles. Last year, the company raised 103 million shekels in convertible bonds on the Tel Aviv Stock Exchange, but according to the terms of the offering, the amount will be transferred to it on the condition that it wins a tender or contract to supply its products. To one of the leading companies in the automobile industry, the closing price of its shares on the Nasdaq stock exchange will be higher than $3.1 for 30 consecutive trading days.
Arba Robotics’ stock price, which closed last weekend at $2.63, has now jumped above that threshold to $4.12 (although, as previously mentioned, the company must meet this requirement for 30 days). Arba was folded into a SPAC three years ago valued at about $500 million.
“Arba is redefining the field of automotive safety with next-generation radar solutions that provide accurate and detailed information about the vehicle’s environment during a trip and enable seamless integration with cameras and other sensors in the vehicle,” Marinko said. At live demonstrations and at CES, We will demonstrate how our technology advances the vision of safe driving without road accidents and, ultimately, the self-driving car.
Published by Globes, Israel Business News – en.globes.co.il – on January 6, 2025.
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