Xpeng ( XPEV ) has reportedly achieved a significant milestone with its proprietary AI chip, confirming long-standing rumors.

Xpeng ( XPEV ) shares are trading relatively flat on Wednesday, falling over 56% in the past year.

During the launch event for its new model, the Mona M03, the Chinese electric vehicle manufacturer revealed that its first AI chip, Turing, successfully completed its tape-out on August 23, reported CnEV Post.

He Xiaopeng, the company’s CEO, stated that the Turing chip will be utilized in Xpeng’s electric vehicles, robots, and flying cars.

Tape-out is a technical term in integrated circuit design that describes the process of converting a circuit design into a chip ready for production. Once tape-out is successfully completed, the chip prototype can enter mass production, provided it passes further testing.

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The Turing chip is specifically designed for L4 autonomous driving and boasts three times the computing power of the current autonomous driving chip used by Xpeng ( XPEV ), He mentioned.

Although he did not specify it directly, Xpeng’s current autonomous driving chip is Nvidia’s Drive Orin X, which offers 254 TOPS (tera operations per second) of computing power per chip.

Price Action: XPEV shares are trading lower by 0.44% to $7.97 premarket at last check Wednesday.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.