Tesla CEO Elon Musk.Ben Macmahon/AAP ImageTesla is taking steps to decrease its reliance on Nvidia, which has supplied the electric automaker with the graphic processing units powering Tesla's Autopilot and future self-driving system.
AMD and Tesla are reportedly partnering to develop a custom chip for autonomous driving, though it may not be enough to usurp Nvidia's dominant position in autonomous driving chips.
AMD shares shot up after CNBC reported that the company is working with Tesla.
AMD shares closed up 5 percent Wednesday following the Tesla news. Nvidia fell on the news and is down 2.03% on Thursday.
"We view the announcement as a near-term concern that should not impact the [self-driving car] story over the next several years", Mitch Steves, an analyst at RBC wrote in a note to clients. "The net/net here for AMD is that Tesla has confirmed AMD's CPU and GPU roadmaps in a field that nobody was considering as viable; it says that AMD's CPU/GPUs in PC and server markets are the real deal", he added.
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According to CNBC, the first implementation of Tesla's in-house AI processor to be used in self-driving has already made with the help of AMD's manufacturing and intellectual property. Because of this reason many big chip makers of the world are staking out place on the autonomous driving.
It's likely, however, that AMD and Tesla are working together based exclusively on some hires that Tesla has been making. Since that time, AMD has continued to show strength across multiple sectors.
"From a volume perspective, Tesla represents less than 1% of the global autos market, and we think the potential to segment the market may be a possible alternative to another sole-source supplier transition", Lipacis said.
In similar fashion, another analyst said the Tesla news is a validation of AMD's technology.
Nvidia is up 75.37% so far this year.