Aeva Stock Soars After NVIDIA Taps its LiDAR for DRIVE Platform
The partnership integrates Aeva's 4D LiDAR as a reference sensor in NVIDIA's autonomous vehicle system, a crucial design win that sent shares up nearly 25%.
Aeva Technologies Inc. (AEVA) shares surged nearly 25% on Tuesday after the company announced it was selected by NVIDIA to supply a key sensor for its DRIVE Hyperion autonomous driving platform.
The Mountain View-based LiDAR company saw its stock jump $3.24 to close at $16.33, marking its best performance in over a year. The rally was fueled by the news that Aeva’s 4D LiDAR technology will be integrated as a reference sensor within the NVIDIA DRIVE ecosystem, a platform used by many of the world's top automakers to develop next-generation automated driving capabilities.
In a statement released Tuesday, Aeva said its Aeries II sensor, which uses a proprietary Frequency Modulated Continuous Wave (FMCW) technology, will provide performance beyond that of conventional time-of-flight (ToF) LiDAR sensors. Unlike ToF systems that measure only depth and reflectivity, Aeva's FMCW approach also measures velocity for every point, allowing for the instantaneous detection of a vehicle's speed and direction. This capability is critical for enhancing safety and performance in advanced driver-assistance systems (ADAS) and fully autonomous vehicles.
"Our partnership with NVIDIA to integrate Aeva’s FMCW 4D LiDAR with the NVIDIA DRIVE platform is a pivotal moment for the future of automated driving," said Soroush Salehian, Co-founder and CEO of Aeva. The integration is aimed at production vehicle programs targeting a 2028 launch.
The deal represents a significant validation for Aeva in a crowded and competitive LiDAR market. Being chosen as a reference sensor for NVIDIA's influential platform positions Aeva's technology directly in front of carmakers and trucking companies developing Level 3 and Level 4 automated systems. NVIDIA's DRIVE Hyperion is a comprehensive platform that includes the computer architecture, sensor suite, and software needed for vehicle manufacturers to build and deploy self-driving technology.
Market reaction was swift and decisive. Trading volume in Aeva shares swelled to more than four times its daily average, pushing the company's market capitalization to over $786 million. Despite the day's dramatic gains, the stock remains well below its 52-week high of $38.80, reflecting a challenging period for the broader autonomous technology sector amid questions over timelines for mass adoption and profitability.
Analysts see the NVIDIA partnership as a critical step toward commercial scale. The consensus analyst price target for Aeva sits at $24.11, suggesting further potential upside if the company can convert this design win into significant production contracts. The announcement provides a much-needed catalyst for the company, which has been focused on refining its technology and securing automotive-grade production deals.
While the collaboration targets 2028 production vehicles, the endorsement from a market leader like NVIDIA provides Aeva with substantial credibility and a clearer path to revenue. The journey from a reference design to widespread adoption is long, but for Aeva, being integrated into the DRIVE ecosystem is a crucial move toward the front of the pack in the race to build the future of transportation.