U.S. Stocks Open Higher on Tuesday; WeRide Soars Another 35%

Tiger Newspress

02-18

U.S. stocks opened higher on Tuesday, as stocks stay resilient despite rising global trade fears and persistent inflation worries.

WeRide shares soared another 35% in morning trading on Tuesday after an 84% rally as Nvidia's investment emerged.

Chip giant Nvidia revealed in a filing that it took a stake in China’s self-driving startup WeRide last quarter, sending shares skyrocketing.

The artificial intelligence winner owned 1.7 million shares in WeRide for a stake worth about $25 million at the end of December, according to a new 13F regulatory filing. WeRide shares surged 83.5% Friday on the news.

WeRide develops self-driving technology for robotaxis, minibuses and freight sanitation vehicles. The firm was founded in Silicon Valley in 2017 and incorporated in the Cayman Islands, before it launched a robotaxi service in Guangzhou, China, in 2019. The Chinese firm debuted on Nasdaq in October.

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