WeRide's shares surged dramatically, reaching a 130% increase in value following Nvidia's announcement of a $24.65 million stake in the Chinese self-driving car startup. Despite some profit-taking that led to a 66% gain in the morning, this move from the AI chipmaker signifies notable endorsement for WeRide amidst its recent IPO. Conversely, Nvidia made significant cuts to its investments in other tech companies like SoundHound AI and Arm Holdings, showcasing a strategic shift in focus towards emerging automated vehicle technologies.
WeRide shares soared 130% after Nvidia's $24.65 million stake announcement, reflecting strong investor confidence before a profit-taking pullback.
Nvidia shook up its portfolio, entirely selling its stake in SoundHound AI while showing support for WeRide, highlighting shifting priorities in the tech sector.
Collection
[
|
...
]