Nvidia CEO Jensen Huang announced that the company will begin shipping its new “Vera Rubin” AI chip later this year, saying it can perform more computing with less power and at a lower cost than previous models.

The Rubin chip, already being manufactured for customers including Microsoft and Amazon, is designed to handle AI tasks faster and more cheaply, allowing companies to train AI systems with fewer chips while reducing energy demands.

Huang also revealed that Mercedes-Benz will begin shipping cars this year equipped with Nvidia’s self-driving technology, as the company pushes deeper into autonomous vehicles and robotics.