US Stock Market Move | Cyngn (CYN.US) surged 49% pre-market on collaboration with NVIDIA Corporation (NVDA.US) to develop self-driving cars.

On Friday, before the US stock market opened, as of the time of writing, the autonomous driving technology company Cyngn (CYN.US) surged by 49.26%, reaching $20.30, following a 171% increase in the stock price the previous trading day. On the news front, Cyngn announced that it is collaborating with NVIDIA Corporation (NVDA.US) to develop autonomous driving solutions for industrial use. Cyngn stated that their autonomous vehicles, built on NVIDIA Corporation's Isaac technology, have already been deployed in commercial settings, aiming to reduce labor costs, improve production efficiency, and enhance safety. Furthermore, the company announced that it has reached a $15 million registered direct offering agreement with an institutional investor.