Innoviz Technologies (INVZ) Stock Rose 6% Premarket, Why?

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At last check, shares of Innoviz Technologies Ltd. (INVZ) were trading at $9.00, up 5.88% in premarket trading. As of Tuesday’s close, INVZ stock went up 2.66% to $8.50. The INVZ stock volume remained at 0.28 million shares, which was below the average daily volume of 0.4 million shares within the past 50 days. Over the past 12 months, INVZ stock has fallen by -13.79%, and it has dropped by -1.73% over the past week.

INVZ stock has lost -14.31% over the past three months, while it has lost -35.02% over the past six months. Its outstanding shares came in at 16.97 million and INVZ was valued at $1.22 billion. An announcement that INVZ has entered a strategic partnership has caused INVZ stock to surge.

INVZ Stock has collaborated with whom?

Innoviz provides technology that will enable autonomous vehicles to be used on the road. INVZ’s LiDAR technology is better than a human driver at detecting obstacles and meets the strict demands of the automotive industry. INVZ’s technology will be implemented in BMW’s consumer vehicles as part of its fully autonomous car program. SoftBank Ventures Asia, Samsung, Magna International, Aptiv, Magma Venture Partners, and others are among INVZ’s strategic partners and investors.

Innoviz and Curium, a leading provider of automated calibration services for autonomous systems, have formed a partnership. Through its automated calibration software, Curium ensures that the vehicle’s sensors are functioning correctly even in changing conditions. Sensors that are out of alignment can cause mis-detections and accidents, so this is a critical issue to solve. With this partnership, Curium will apply its patented calibration techniques to its advanced driving system, which will harness the superior capabilities of INVZ’s solid-state LiDAR sensor.

By using Curium’s solution, any vehicle can be integrated with the InnovizOne Lidar sensor, as well as have the sensor installed during production. Furthermore, Curium will distribute, publicize, and promote INVZ’s products across multiple sectors in Southeast Asia, including automotive original equipment manufacturers (OEMs), shuttles, robotaxis, and various other industrial applications. INVZ and Curium will expand their relationship, building upon the strong relationships INVZ has in Asia, such as in Korea, Japan, and China.

LiDAR technology from Innoviz (INVZ) and Curium’s capability to perform continuous dynamic calibration with multiple sensors give both companies a distinct competitive edge when it comes to systems that require the latest, most reliable LiDAR technology. Curium is confident in a long and fruitful association with INVZ because of its global presence.

INVZ’s other collaboration:

Innoviz (INVZ) and a China-based company called Whale Dynamic, which is developing the next generation of intelligent autonomous driving (AD), announced their collaboration on Monday. Using InnovizOne LiDARs instead of previous InnovizPro LiDARs as its primary sensors, the new Whale Dynamic AD platform is expected to be highly accurate. InnovizOne was selected for its outstanding performance, automotive-grade specifications, low power consumption, and compact size.

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