Feb 14 - A regulatory filling reveals that Nvidia (NVDA, Financial) cut its stake in British chipmaker Arm Holdings (ARM, Financial) by more than 44%, with 1.1 million shares remaining. During the fourth quarter, the chipmaker divested holdings in Serve Robotics (SERV, Financial), SoundHound AI (SOUN, Financial), and Nano-X Imaging Ltd (NNOX, Financial) as reason for change in investment strategy.
Nvidia, on the other hand, announced a new stake in WeRide Inc by buying 1.7 million shares, a new one. WeRide posted a 96% increase in its premarket shares after the news spread. Nvidia's eagerness to be part of autonomous vehicle technology is in line with its rush into driving technology.
Nvidia revealed that it owns 1.2 million shares of the AI cloud firm Nebius Group, whose shares jumped 6 percent after the disclosure. Nvidia's exit from its share of Serve Robotics dropped the stock by 31%. Nano-X Imaging lost 4% in premarket trading, while SoundHound lost 10%.
The disbursal of this portfolio into high growth areas like AI and autonomous technology is also a result of Nvidia's strategic focus on the Chinese market. The focus sends a strong message as Nvidia further expands its AI footprint into a crowded global playing field.
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