WeRide Inc (NASDAQ: WRD) stock surged over 83% on Friday after Nvidia (NASDAQ: NVDA) revealed it had acquired 1.74 million shares of the autonomous vehicle startup during the quarter ending December 31.
The news comes on the heels of a significant milestone for WeRide, which, in collaboration with Uber Technologies (NYSE: UBER), launched a robotaxi service in Abu Dhabi last December. This partnership marked Uber’s largest commercial robotaxi service outside the U.S. and China.
Morgan Stanley analyst Tim Hsiao praised WeRide’s strong position in the self-driving vehicle sector, citing its diverse product lineup, which includes robotaxis, robot vans, robot buses, and robot sweepers.
The company’s advanced driver-assistance systems (ADAS) advancements and expanding global footprint make it well-poised to capitalize on the L4+ autonomous vehicle revolution.
In related news, AI cloud firm Nebius Group (NASDAQ: NBIS) also saw a surge in its stock price after Nvidia reported acquiring 1.19 million shares in the company.
Meanwhile, Nvidia adjusted its holdings in other tech companies during the quarter. The chip giant reduced its stake in British chip designer Arm Holdings (NASDAQ: ARM) from 1.96 million shares to 1.10 million shares. Following the news, Arm’s stock price dipped 3.21%. Recently, Arm announced a major collaboration with Meta Platforms (NASDAQ: META), naming Meta as the first customer for its new in-house chip project.
Additionally, Nvidia completely divested its stakes in AI-robotics mobility platform Serve Robotics (NASDAQ: SERV), voice AI company SoundHound AI (NASDAQ: SOUN), and medtech firm Nano-X Imaging (NASDAQ: NNOX) in the December 31 quarter.
Latest News on Nvidia (NVDA) Stock NASDAQ: WRD Nvidia WeRide
