Nvidia is sliding despite announcing a slate of self-driving car partnerships

Nvidia's stock is down 1.35% at $150.10 a share despite the company announcing three separate self-driving-car related deals Tuesday morning.

The company announced the following three partnerships...

• Volvo Cars and Autoliv: The car manufacturer and Nvidia are partnering to develop "advanced systems and software for AI self-driving cars," according to a press release. The partnership hopes to produce production vehicles running Nvidia's Drive PX computing platform by 2021.
• ZF and HELLA: The second Nvidia announcement is aimed at safety. ZF, a large automotive supplier, and HELLA, a camera and sensor supplier, are partnering with Nvidia to develop AI technology that will score highly in the New Car Assessment Program certification. The system they are developing will be a combined hardware and software solution.
• Volkswagen: The partnership between Volkswagen and Nvidia is slightly less substantial than the other announcements. The two companies have agreed to share knowledge and data across their research divisions with the aim to accelerate Volkswagen's data lab's research in AI and deep learning automotive tech.

Ahead of Tuesday's announcements, Nvidia already had relationships with Audi, Baidu, Tesla, and Toyota.

The company is fighting rival Intel for ownership of the space. Intel recently bought autonomous-car hardware startup Mobileye and is partnering with BMW to develop its own self-driving car technology.

Nvidia is up 47.11% this year.

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