Cyngn Inc. (CYN)
NASDAQ (CM) NASDAQ (CM) Primary Summary
Cyngn (CYN) CEO on NVDA Partnership, Using Robotaxi Tech in Warehouses
Lior Tal, CEO of Cyngn (CYN), talks about how his company uses robotaxi tech and applies it to a warehouse setting. The company has already worked with businesses like Deere & Co. (DE) to apply the tech.
Cyngn Stock: Should You Buy The Nvidia Hype?
Cyngn (NASDAQ:CYN) stock has surged over 300% in just two trading days after AI chip titan Nvidia named the company in a blog post as one of a select group of robotics innovators using its Isaac robotics platform to build autonomous industrial vehicles. Cyngn specializes in autonomous vehicle technology tailored for industrial and logistics applications.
Autonomous Industrial Vehicle Firm Cyngn Stock Soars on Nvidia Deal
Close Key Takeaways Cyngn shares took off for a second consecutive day following news of a collaboration with Nvidia.The autonomous industrial vehicle technology firm will use Nvidia's Isaac robotics platform to build self-driving vehicles "across dynamic, real-world environments."Cyngn also announced a $15 million registered direct offering with a single institutional investor. Shares of Cyngn (CYN) skyrocketed for a second straight day Friday after the maker of self-driving industrial vehicle technology announced a collaboration agreement with Nvidia (NVDA). The company explained the Nvidia deal will have Cyngn use the chipmaker's Isaac robotics platform "to accelerate safe, scalable autonomy across dynamic, real-world environments." The Mountain View, Calif.-based firm noted that its autonomous industrial vehicles, built on Isaac and powered by Cyngn's DriveMod software, "are currently operating in commercial environments to reduce labor costs, increase throughput, and improve safety." CEO Lior Tal added that working with Nvidia "helps reinforce our mission to build cutting-edge autonomous vehicles that deliver real-world ROI to industrial operators." Cyngn also said Thursday that it was selling nearly 3 million shares and pre-funded warrants valued at $5.01 each to a single institutional investor. That was the closing price of the stock on Wednesday, before yesterday's news sent it 171% higher. The shares added another 60% soon after the opening bell Friday to trade at $21.80. The company expects to use the money raised from the stock sale "for general corporate purposes and working capital." TradingView Do you have a news tip for Investopedia reporters? Please email us at [email protected]
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Cyngn Inc. Profile
| Software Industry | Information Technology Sector | Lior Tal CEO | NASDAQ (CM) Exchange | 23257B305 CUSIP |
| US Country | 58 Employees | - Last Dividend | 18 Feb 2025 Last Split | - IPO Date |
Overview
Cyngn Inc. is a company that operates within the autonomous vehicle (AV) technology sector, focusing on the development of autonomous driving software aimed at revolutionizing how vehicles are operated. Founded in 2013, Cyngn has positioned itself as a key player in the industry by dedicating its resources to creating solutions that cater to the growing demands for efficiency, safety, and innovation in transportation. With its headquarters located in Menlo Park, California, Cyngn leverages its strategic location in one of the technology capitals of the world to foster innovation and collaboration in the AV space.
Products and Services
- DriveMod
- Cyngn Insight
- Cyngn Evolve
This modular industrial vehicle autonomous driving software represents one of the core offerings from Cyngn. DriveMod is designed to enable vehicles to operate autonomously by equipping them with the necessary software framework for navigation, decision making, and operations without human intervention. The modular aspect ensures that it can be tailored to meet the specific needs of various industrial applications, providing a versatile solution for businesses looking to integrate AV technology into their operations.
A customer-facing suite of tools, Cyngn Insight, offers users the ability to monitor and manage their AV fleets effectively. This comprehensive solution provides functionalities for generating, aggregating, and analyzing data, which are crucial for optimizing fleet operations. The insights gained from this tool enable businesses to make informed decisions, improve efficiency, and enhance the safety of autonomous vehicle operations.
Cyngn Evolve stands as an internal suite of tools and infrastructure geared towards advancing the company's AI and machine learning capabilities. It facilitates the training of algorithms and models, ensuring continuous improvement in the autonomous driving software. Additionally, the suite provides a simulation framework that leverages data collected in the field. This helps in validating new software releases, further enhancing the reliability and performance of Cyngn's autonomous driving solutions.
Contact Information
