Nvidia Shifts Strategy, Boosts WeRide Investment, Trims Arm Stake

Chinese autonomous startup WeRide Inc WRD stock gained Friday after Nvidia Corp 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 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 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 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 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 SERV, voice AI company SoundHound AI SOUN, and medtech company Nano-X Imaging 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