The future of driving is software. General Motors Company GM is launching a robo-taxi ride hailing services with driverless cars soon. Damiler AG DMLRY is linking up with BMW BMWYY to create a ride-hailing service. This is all to take on Uber, which is said by some investment bankers to be worth $120 billion, as it plans a 2019 IPO. The key questions for automakers: how will they match Uber dollar for dollar to invest in the best software?
Nvidia NVDA has a stake in all of this too. Its autonomous driving chip unit is becoming an increasingly important business segment, and will certainly want to cash in on the expanding market.
In other news, Boeing Co. BA reports earnings on Wednesday.
CBS Corporation CBS announced new Chairman, Strauss Zelnick, who is the current CEO of Take-Two Interactive Software, Inc. TTWO . Zelnick had been on the CBS board for a week. Chairman Richard Parsons is stepping down from the helm due to illness. Zelnick will replace him.
TheStreet’s RealMoney stock of the day is Fiat-Chrysler Automotives NV FCAU , which is trading up more than 4% in pre-market activity Monday, as it will sell its autoparts business for more than $7 billion.
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