Israeli auto-tech chip company Arbe Robotics (Nasdaq: ARBE; TASE: ARBE) is up 64% on Nasdaq, giving a market cap of $362 million after announcing a collaboration with chip giant Nvidia.
Arbe, founded by CEO Kobi Marenko, announced that in collaboration with Nvidia it is enhancing free space mapping and AI-driven 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-timer safety applications. The solution will be presented at this month's CES 2025 exhibition in Las Vegas.
At the heart of Arbe's innovation is its 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 environments and on highways.
Arbe Robotics is developing a chip for automotive imaging radars, intended for safety applications and autonomous vehicles. Last year, the company raised NIS 103 million in a convertible bond 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 car manufacturers, and that the closing price of its shares on the Nasdaq will be above $3.1 for 30 consecutive trading days.
Arba Robotics share price, which closed at the end of last week at $2.63, are now jumped above this threshold to $4.12 (although, as mentioned, the company must meet this condition for 30 days). Arba was merged into a SPAC company three years ago at a valuation of about $500 million.
Marenko said, "Arba is working to redefine the field of automotive safety with next-generation radar solutions that provide accurate and detailed information about the vehicle's environment during the journey and enable seamless integration with cameras and other sensors in the vehicle. In the live demonstrations at CES, we will demonstrate how our technology advances the vision of safe driving without road accidents and, ultimately, the autonomous vehicle."
Published by Globes, Israel business news - en.globes.co.il - on January 6, 2025.
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