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NVIDIA Stock Jumps 5.4% on Volvo Self-Driving Truck Partnership

Jun 20, 2019 at 08:11 AM CST

Shares of graphics chip specialist NVIDIA (NASDAQ:NVDA) popped 5.4% on Tuesday after the company and AB Volvo (NASDAQOTH:VOLVY) announced they were teaming up to develop self-driving commercial trucks, buses, and industrial vehicles for a wide range of applications. That brings NVIDIA stock's year-to-date 2019 return to 14.9%, which slightly trails the S&P 500's 17.5% return. Nonetheless, due to challenges in its gaming and data center businesses, the former market darling's stock price is still just a bit above half of its all-time closing high of $289.39, set in October.