Nvidia Trims Arm Stake, Exits Serve Robotics and SoundHound
Nvidia Corporation (NASDAQ: NVDA) revealed in a regulatory filing on Friday that it reduced its stake in British chipmaker Arm Limited by approximately 44% in the fourth quarter. The Santa Clara-based company also liquidated its holdings in Serve Robotics and SoundHound AI during the same period.
Nvidia acquired new stakes in several companies during the quarter ended December 31, including 1.7 million shares in WeRide Inc, a Chinese self-driving startup. This investment drove WeRide's premarket trading shares up by 96%. Additionally, Nvidia's reported 1.2 million shares in AI cloud firm Nebius Group resulted in a 6% increase in its shares.
In contrast, Nvidia downsized its stake in Arm by 43.8% to 1.1 million shares. The AI chip designer also sold off its holdings in Serve Robotics, a company specializing in sidewalk delivery robots, leading to a 31% decline in its shares. Nvidia further dissolved its investment in Nano-X Imaging Ltd, an Israel-based medtech firm, causing a 4% drop in its premarket trading shares. Lastly, shares of SoundHound AI, a voice assistant developer, fell by 10%.