Nvidia cuts stake in Arm Holdings, invests in China's WeRide

Nvidia reduced its stake in British chip firm Arm Holdings by about 44 percent and exited its holdings in Serve Robotics and SoundHound AI in the fourth quarter, a regulatory filing showed on Friday.

The Santa Clara, California-based company reported new holdings in the quarter ended December 31, including 1.7 million shares in China's self-driving startup WeRide, sending its shares up by 96 percent in premarket trading.

Shares of Nebius rose 6 percent after Nvidia reported 1.2 million shares in AI cloud firm.

The artificial intelligence chip designer cut its stake in Arm by 43.8 percent to 1.1 million shares.

Nvidia also exited its holdings in Serve Robotics, known for its sidewalk delivery robots, sending shares down 31 percent.

It also dissolved its stake in Israel-based medtech company Nano-X Imaging, sending its stock down by 4 percent in premarket trading.

Shares of voice assistant maker SoundHound AI fell 10 percent.

REUTERS