Nvidia invests in China's WeRide

Nvidia reduced its stake in British chip firm Arm Holdings by about 44% and exited its holdings in Serve Robotics and SoundHound AI in the fourth quarter, a regulatory filing showed on Friday. The Santa Clara, California-based company reported new holdings in the quarter ended December 31, including 1.7 million shares in China’s self-driving startup WeRide Inc (WRD), sending its shares up by 96% in premarket trading.

Shares of Nebius Group rose 6% after Nvidia reported 1.2 million shares in AI cloud firm.

The artificial intelligence chip designer cut its stake in Arm by 43.8% to 1.1 million shares.

Nvidia also exited its holdings in Serve Robotics, known for its sidewalk delivery robots, sending shares down 31%.

It also dissolved its stake in Israel-based medtech company Nano-X Imaging Ltd, sending its stock down by 4% in premarket trading.

Shares of voice assistant maker SoundHound AI fell 10%.

About WeRide

WeRide Inc, also known as WeRide, is a Chinese autonomous driving company that specializes in developing Level 4 autonomous driving technologies. The company was founded in 2017 and is headquartered in Guangzhou, China. WeRide focuses on creating autonomous vehicles that can operate without human intervention in specific areas, such as designated zones or routes.

Their technology integrates sensors, artificial intelligence, and mapping data to enable self-driving cars to navigate complex environments. WeRide has partnered with various companies, including Renault and Nissan, to test and deploy its autonomous driving systems. The company has also received significant funding from investors, including a $600 million Series C funding round in 2021.

About Nvidia

Nvidia Corporation is an American multinational technology company that specializes in designing and manufacturing graphics processing units (GPUs) and high-performance computing hardware. Founded in 1993 by Jensen Huang, Chris Malachowsky, and Curtis Priem, Nvidia has become a leading player in the fields of artificial intelligence, gaming, professional visualization, and autonomous vehicles. Nvidia’s innovative products and technologies have revolutionized the way people interact with computers and have enabled breakthroughs in fields such as deep learning, robotics, and healthcare. The company’s GPUs are widely used in gaming consoles, data centers, and supercomputers, while its software development kits (SDKs) and application programming interfaces (APIs) enable developers to create cutting-edge applications and services. With a strong focus on research and development, Nvidia continues to push the boundaries of what is possible with technology.