Chip designer Arm is expanding into the car market because demand in the smartphone market is sluggish.
British semiconductor design company Arm has released the company's first processor models designed for self-driving cars.
The company, supported by the Japanese technology investor Softbank, announced its new powerful products called Neoverse on Wednesday.
The company believes that the electrification of cars and the proliferation of self-driving systems will create demand for chip models designed for cars.
“The car market is going through an unprecedented change, when vehicles need more autonomy and a more sophisticated user experience,” the company says in its press release.
According to Armi, the German car company Mercedes-Benz and online store Amazon's cloud services Amazon Web Services, among others, are integrating the new models into their products and development systems.
Chip manufacturers Nvidia and Texas Instruments plan to do the same.
arm is best known for its processors designed for smartphones, but their growth in demand has stalled as the growth of the smartphone market has slowed down.
British newspaper of the Financial Times According to (FT), Arm has previously said that semiconductor demand in the smartphone market has been declining for the past two years, although more recently there have been signs of a recovery in demand.
In recent years, the company has expanded into processors that are used in data centers and the so-called Internet of Things.
The company's second object of interest in expanding its product range has been semiconductors in the automotive industry. Arm said at the most recent investor event that automotive products are its smallest but fastest growing product group.
Head of Armi's automotive market products business Dipti Vachani tells the FT that the company plans to make “significant” investments in automotive products because they are the company's future.
arm was listed on the New York Nasdaq stock exchange in September of last year.
The company's share price has more than doubled since its listing, as investors believe the artificial intelligence boom will benefit processor companies.
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