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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.