Advanced Micro Devices NASDAQ:AMD shares climbed about 2.5% in early Monday trading after reports showed Japanese autonomous driving startup Turing added AMD Ventures as an investor while increasing use of the company's AI hardware.
Turing said it has started using AMD AI accelerators for part of its model training requirements as the company works toward broader commercialization of its self-driving technology. The startup indicated AMD systems currently account for around 10% of its artificial intelligence training workload.
The company said the shift may help diversify computing resources and lower dependence on Nvidia NASDAQ:NVDA infrastructure. Turing is also looking to manage operating costs while continuing development of autonomous vehicle systems.
Separately, Turing said it secured $79 million through an extension of its previous Series A funding round involving debt and equity financing. The report said the latest fundraising placed Turing's valuation near $600 million, although financial details regarding AMD Ventures' participation were not disclosed.
Turing has expanded vehicle testing across several urban locations in Japan as it moves toward future commercial deployment.