Latest news with #LiorTal
Yahoo
02-07-2025
- Automotive
- Yahoo
Cyngn Stock Soars as Nvidia Partner Covers Costs Through 2027
Cyngn said it raised $32 million in a shelf offering last week, and that will cover its expenses through 2027. The maker of autonomous industrial vehicles recently announced a collaboration agreement with Nvidia. Cyngn has moved to a bigger headquarters to keep up with of Cyngn (CYN) took off Wednesday when the maker of self-driving industrial vehicles announced it raised enough cash in a shelf offering to cover its expenses through 2027. CEO Lior Tal wrote in a letter to shareholders that the company brought in $32 million last week. That's also when Cyngn made headlines by striking a collaboration agreement with Nvidia (NVDA). Tal added that the firm's DriveMod autonomous vehicles are "now operating in warehouse aisles and across factory floors around the clock, delivering measurable improvements to safety, productivity, and labor costs." Tal said that Cyngn machines have been deployed at several new sites across industries in recent months, including manufacturing, automotive, logistics, and consumer-packaged goods. Tal explained that to keep up with demand, Cyngn has moved into a new, larger headquarters office in Mountain View, Calif. Tal noted that the deal with Nvidia to use the chipmaker's Isaac robotics platform "has helped us move faster." Despite today's 12% advance, Cyngn shares are down nearly 90% in 2025. Read the original article on Investopedia Sign in to access your portfolio
Yahoo
28-06-2025
- Business
- Yahoo
Cyngn Announces Strategic Collaboration With NVIDIA Corporation (NVDA)
NVIDIA Corporation (NASDAQ:NVDA) is one of the 13 Best Long Term Growth Stocks to Invest in Right Now. On June 26, Cyngn announced a strategic collaboration with NVIDIA Corporation (NASDAQ:NVDA) as part of the Automatica 2025 robotics and automation showcase. The collaboration would entail Cyngn leveraging the NVIDIA Isaac robotics platform to power next-generation autonomous vehicle solutions for industrial applications. Automatica 2025 is a leading trade fair across the globe for robotics and smart automation. It offers a global stage to show the transformational effects of AI-powered solutions on logistics and manufacturing. Lior Tal, CEO of Cyngn, stated the following about the news: 'This collaboration with NVIDIA helps reinforce our mission to build cutting-edge autonomous vehicles that deliver real-world ROI to industrial operators.' Cyngn's autonomous industrial vehicles are presently operational in commercial environments to elevate throughput, slash labor costs, and improve safety. The vehicles are powered by Cyngn's proprietary DriveMod software and built on NVIDIA Isaac. Cyngn was chosen amidst a small number of robotics innovators using NVIDIA Isaac technologies to support safe, scalable autonomy across real-world environments. NVIDIA Corporation (NASDAQ:NVDA) designs and manufactures computer graphics processors, chipsets, and other multimedia software. It operates in the Compute & Networking and Graphics Processing Unit (GPU) segments. While we acknowledge the potential of NVDA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None.
Yahoo
27-06-2025
- Automotive
- Yahoo
Autonomous Industrial Vehicle Firm Cyngn Stock Soars on Nvidia Deal
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 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." Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
27-06-2025
- Automotive
- Business Insider
Cyngn Stock (CYN) Rockets 165% on Nvidia Collaboration
Cyngn (CYN) stock rocketed higher on Thursday after the autonomous vehicle solutions company announced a collaboration with Nvidia (NVDA). Cyngn has showcased how it uses Nvidia's Isaac robotics platform for self-driving vehicles in industrial applications. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Cyngn was chosen by Nvidia for this collaboration among several other companies using the Isaac platform for similar operations. CEO Lior Tal said the Nvidia collaboration 'helps reinforce our mission to build cutting-edge autonomous vehicles that deliver real-world ROI to industrial operators.' Cyngn Stock Movement Today Cyngn stock was up 166.67% in pre-market trading on Thursday, following a 20.72% rally yesterday. Today's movement comes alongside heavy trading, with more than 31 million shares traded as of this writing, compared to a three-month daily average of roughly 30,000 units. Is Cyngn Stock a Buy, Sell, or Hold? Turning to Wall Street, there's a lack of analyst coverage for Cyngn. However, TipRanks' AI analyst Spark fills that void. Spark rates CYN stock a Neutral (41) with a $4 price target, representing a potential 20.16% downside. It cites 'considerable financial and technical challenges, with significant losses and bearish technical indicators' as reasons for this rating and price target. Today's Nvidia collaboration announcement could alter this stance.
Yahoo
02-06-2025
- Automotive
- Yahoo
Cyngn Launches Dealer Portal to Facilitate the Scaled Expansion of Its Dealer Network
MENLO PARK, Calif., June 2, 2025 /PRNewswire/ -- Cyngn (the "Company" or "Cyngn") (Nasdaq: CYN) today announced the launch of the Cyngn Dealer Portal, an online resource hub created to support its growing dealer network. The portal provides easy access to a comprehensive suite of Cyngn assets, including sales materials, detailed pricing information, and co-marketing resources. This new tool will allow dealers to effectively present Cyngn's autonomous solutions to their customers, increasing efficiency and facilitating faster sales cycles. "In the last several months, several Motrec dealers have begun to sell DriveMod Tuggers throughout North and Central America. With the Dealer Portal, we are making it easier than ever for dealers to access the information they need to confidently introduce our autonomous solutions to their customers. We see this as a key step in accelerating the adoption of our technology across various sectors," said Lior Tal, Cyngn's CEO. Through the Dealer Portal, Cyngn continues to deliver on its core competency of using technology to introduce innovative, value-generating solutions to an established industry. Partners can access information that will help them stay up-to-date with product offerings, pricing models, and marketing initiatives through a simple web portal. In addition to resources that simplify the sales process, the portal provides training materials and technical documentation to support dealers as they engage new customers and pursue opportunities in industrial autonomy. The launch of the Dealer Portal builds on the momentum of Cyngn's Dealer Network, which includes partnerships with prominent dealers and service providers in the industrial vehicle sector. These partnerships are essential for expanding Cyngn's reach and enhancing the ability of companies in various industries to implement autonomous vehicle solutions efficiently. Dealers who are not yet part of Cyngn's network are encouraged to explore the benefits of joining. For more information about joining Cyngn's Dealer Network and gaining access to the Dealer Portal, please visit: About Cyngn Cyngn develops and deploys autonomous vehicle technology for industrial organizations like manufacturers and logistics companies. The Company addresses significant challenges facing industrial organizations today, such as labor shortages and costly safety incidents. Cyngn's DriveMod technology empowers customers to seamlessly bring self-driving technology to their operations without high upfront costs or infrastructure installations. DriveMod is currently available on Motrec MT160 Tuggers and BYD Forklifts. The DriveMod Tugger hauls up to 12,000 lbs, travels inside and out, and targets a typical payback period of less than 2 years. The DriveMod Forklift lifts heavy loads that use non-standard pallets and is currently available to select customers. For all terms referenced within, please refer to the Company's annual report on Form 10-K with the SEC filed on March 6, 2025. Investor Contactinvestors@ Media ContactLuke Renner | Head of Marketingmedia@ Find Cyngn on: Website: X: LinkedIn: YouTube: Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the Securities and Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 6, 2025. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. View original content to download multimedia: SOURCE Cyngn
