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These Tech Stocks Are Soaring Friday After Nvidia Disclosed Stakes
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Key Points
- Shares of Chinese autonomous driving company Weride and AI infrastructure company Nebius appeared on Friday after Nvidia disclosed stakes in the companies.
- NVIDIA dumped the holdings of Sound Hound AI, Serve Robotics and Nano-X imaging, making those stocks lower, according to a filing.
- Nvidia also trims its shares in the chip designer arm.
Weride’s stock (world) surged on Friday, along with other tech stocks following Nvidia (NVDA) disclosed shares of China’s autonomous driving company.
Documents filed on Friday show that Weride’s stock value has almost doubled as of December 31 after NVIDIA held 1.74 million shares. Weride operates driverless cars in 30 cities in nine countries and made its debut on Nasdaq Island in October.
The document shows that NVIDIA has increased its shares in the Nebius Group (NBIS), AI infrastructure company. In recent deals, Nibius’s share price has risen 7%.
At the same time, AI shares Voice Technology Company Sound AI (Soun), delivering robot developers to provide robotics technology (Serve) and medical technology company Nano-X imaging (nnoxThe application shows that NVIDIA has deprived its shares in these companies. SoundHound stock fell more than 30%, Serve Robotics stock fell more than 40%, and Nano-X fell 11%.
NVIDIA also reduced its stake in chip designer arms (arm) to about 1.1 million shares. Its shares fell 5% on Friday afternoon.
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