Shares of Mobileye NV (NYSE:MBLY) ended Wednesday session in green amid volatile trading. The shares closed up +0.12points or 0.25% at $49.05 with 2.25million shares getting traded. Post opening the session at $48.98, the shares hit an intraday low of $48.83 and an intraday high of $49.36 and the price vacillated in this range throughout the day. The company has a market cap of $10.72 billion and the numbers of outstanding shares have been calculated to be 218.85million shares.
On Aug. 23, 2016 Mobileye (MBLY) and Delphi Automotive PLC (DLPH) announced a partnership to jointly develop a complete SAE Level 4/5 automated driving solution. The program will result in an end-to-end production-intent fully automated vehicle solution, with the level of performance and functional safety required for rapid integration into diverse vehicle platforms for a range of customers worldwide. The partners’ CSLP platform will be demonstrated in combined urban and highway driving at the 2017 Consumer Electronics Show in Las Vegas and production ready for 2019.
Mobileye is the world leader in computer vision systems, mapping, localization and machine learning focused on the automotive domain. Delphi is a world leader in automated driving software, sensors and systems integration. Working together, the two companies will co-develop the market’s first turnkey Level 4/5 automated driving solution.
The automated driving solution will be based on key technologies from each company. These include Mobileye’s EyeQ® 4/5 System on a Chip (SoC) with sensor signal processing, fusion, world view generation and Road Experience Management (REM™) system, which will be used for real time mapping and vehicle localization. Delphi will incorporate automated driving software algorithms from its Ottomatika acquisition, which include the Path and Motion Planning features, and Delphi’s Multi-Domain Controller (MDC) with the full camera, radar and LiDAR suite. In addition, teams from both companies will develop the next generation of sensor fusion technology as well as the next generation human-like “driving policy.” This module combines Ottomatika’s driving behavior modeling with Mobileye’s deep reinforcement learning in order to yield driving capabilities necessary for negotiating with other human drivers and pedestrians in complex urban scenes.
“The Mobileye and Delphi relationship started in 2002 with the implementation of what was one of the most advanced active safety systems of the time. Our long history together is key to the success of this ambitious endeavor,” said Professor Amnon Shashua, Mobileye Chairman and Chief Technology Officer. “Our partnership with Delphi will accelerate the time to market and enable customers to adopt Level 4/5 automation without the need for huge capital investments, thereby creating a formidable advantage for them.”
Added Kevin Clark, Delphi President and Chief Executive Officer: “This partnership will allow us to give our customers an increased level of automated capabilities faster and more cost effectively. The collective expertise of our two organizations will accelerate the creation of new approaches and capabilities that would likely not have been possible working alone. This is a win-win for both companies and our customers.”
Shares of Square Inc (NYSE:SQ) ended Wednesday session in green amid volatile trading. The shares closed up +0.10 points or 0.85% at $11.93 with 2.58 million shares getting traded. Post opening the session at $11.83, the shares hit an intraday low of $11.83 and an intraday high of $11.97 and the price vacillated in this range throughout the day. The company has a market cap of $4.00 billion and the numbers of outstanding shares have been calculated to be 123.75 million shares.
On August 10, 2016 Square Inc (SQ) and Upserve announced a partnership providing Upserve customers access to fast, flexible, and straightforward funding for their restaurants through Square Capital. This is the first time loans through Square Capital will be available to businesses that operate outside of Square’s payment processing ecosystem. Working with Upserve, Square will apply its innovative machine learning models to enable Upserve customers to select loan offers through Square Capital within their existing suite of Upserve software purpose built for restaurateurs.
“This partnership with Square further cements our dedication to helping restaurants thrive in all parts of their business. Providing our customers access to Square Capital opens up new opportunities for improvement and growth whether it be in location expansion, new equipment, or investments in technology that help modernize their operations. We can’t wait to see what our customers will do with an infusion of fresh capital through our partnership,” said Dave Hoffman, VP of Business Development at Upserve.
“We are proud to partner with Upserve and offer loans through Square Capital to even more small businesses who traditionally face barriers when seeking access to funds,” said Jacqueline Reses, Head of Square Capital. “Square and Upserve share a passion for empowering businesses to grow and achieve their goals, and a crucial component to success is access to capital.”