Cerence Inc. (CRNC) stock soared 5.79% in pre-market trading on Monday, extending its impressive rally driven by the recently announced automotive collaboration with chipmaker Nvidia (NVDA).
On Friday, CRNC shares skyrocketed a staggering 143.76% following the news of the partnership with Nvidia. The deal, which involves Cerence's AI-powered automotive solutions being integrated with Nvidia's chip technology, has ignited investor enthusiasm for the company's growth prospects in the burgeoning autonomous driving market.
The sustained momentum in CRNC's stock price during the overnight and pre-market sessions suggests that investors remain bullish on the potential impact of the Nvidia collaboration, anticipating significant revenue and market share gains for Cerence in the lucrative automotive AI space.
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