Chinese autonomous startup WeRide Inc (NASDAQ:WRD) stock gained Friday after Nvidia Corp (NASDAQ:NVDA) disclosed new holdings in the stock during the quarter ended December 31. Nvidia procured 1.74 million shares in the startup.
Last December, Uber Technologies Inc (NYSE:UBER) and WeRide launched a robotaxi service in Abu Dhabi, marking Uber’s largest commercial robotaxi service outside the U.S. and China.
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Morgan Stanley’s Tim Hsiao hailed WeRide as a global player in the self-driving vehicle sector. Its product lineup has accomplished significant milestones, including robotaxis, robot vans, robot buses, and robot sweepers, supported by advanced driver-assistance systems (ADAS).
WeRide is well-positioned to capitalize on the L4+ autonomous vehicle trend backed by its innovative products, strategic partnerships, and expanding global footprint.
AI cloud firm Nebius Group (NASDAQ:NBIS) stock also gained after The AI chip designer reported acquiring 1.19 million shares.
Nvidia also reduced its stake in British chip designer Arm Holdings (NASDAQ:ARM) to 1.10 million shares from 1.96 shares during the quarter ended September 30. Arm’s stock price declined after the stake cut. Recently, Arm announced Meta Platforms Inc (NASDAQ:META) as the first customer for its new in-house chip project.
In the December 31 quarter, Nvidia retired its stake in AI-robotics mobility platform Serve Robotics (NASDAQ:SERV), voice AI company SoundHound AI (NASDAQ:SOUN), and medtech company Nano-X Imaging (NASDAQ:NNOX).
Price Action: At the last check on Friday, WRD stock was up 82.3% at $31.31. ARM is down 4.64%.
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Image by WeRide via Company
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