Nvidia cuts Arm Holdings stake, expands investment in China's WeRide
Nvidia reduced its stake in British chipmaker Arm Holdings by approximately 44% and sold its holdings in Serve Robotics and SoundHound AI in the fourth quarter, according to a regulatory filing 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, News.Az reports, citing Reuters.
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%.
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