Shares of Chinese self-driving start-up WeRide (WRD) soared by over 135% Friday after Nvidia (NVDA) published its investment in the company while detailing its exit from positions in Serve Robotics (SERV) and SoundHound AI (SOUN), sinking the shares.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Nebius Group (NBIS) was also up by around 10% as a regulatory showed NVDA had taken a position in the AI cloud company. NVDA also cut its stake in British chip design firm ARM Holdings (ARM) and exited its position in sidewalk robot delivery firm SERV and meme stock favorite SOUN altogether, the 13-F regulatory filing showed. Shares of SOUN plunged 25% on the news, while SERV sank 37%. NVDA also ditched its stake in Israel-based medical technology company Nano-X Imaging Ltd (NNOX), sending shares down around 9%.
NBIS and WRD Rise
The spike for WRD takes the shares almost back to their November all-time high, with NVDA’s stake of about 1.7 million shares estimated prior to the move at around $24.7 million. Nvidia reported 1.2 million shares in NBIS, valued at almost $33 million before the stock leapt.
NVDA cut its ARM stake by almost 44% to 1.1 million shares. It comes after ARM announced plans to develop its own chips, signalling a shift away from its existing model of licensing blueprints to the likes of NVDA and Apple (AAPL).
Compare Nvidia’s Holdings
Investors can compare NVDA’s past and current holdings using the TipRanks Stocks Comparison Tool.
