Chip giant NVIDIA revealed in a filing that it took a stake in China’s self-driving startup WeRide Inc. 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 more than 135% Friday on the news.
WeRide develops self-driving technology for robotaxis, minibuses as well as 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.
Nvidia’s filing also disclosed a $33 million new stake in Nebius Group, an AI infrastructure firm. The stock jumped more than 5% Friday.
In the meantime, Nvidia cut its stake in British chip name Arm Holdings by 44% last quarter to a stake worth $136 million. Arm was still Nvidia’s biggest equity holding at the end of 2024.
The tech giant also exited a few names last quarter such as Serve Robotics, SoundHound AI and Nano-X Imaging. Serve Robotics shares tanked 36% on Friday, while SoundHound AI’s stock declined 28%.
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