Why Ceva Stock Was Accelerating This Week

Niche electronics company Ceva (NASDAQ: CEVA) has been an outperformer on the stock exchange of late, according to data compiled by S&P Global Market Intelligence. On Tuesday the company announced a licensing deal, and investors flocked to snap up its shares.

Ceva is in the business of developing and licensing processing devices and software, and has lately attracted interest because of its artificial intelligence (AI) processors. On Tuesday, the company announced that it sold a license for a next-generation solution supporting advanced driver assisted systems (ADASes).

Specifically, the license covers its NeuPro-M Edge AI Neural Processing Unit (NPU), and the client is South Korean vehicle tech company Nextchip.

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Source Fool.com