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Nvidia (NASDAQ:NVDA), the AI chip-making powerhouse, has revealed significant financial stakes in U.K. chip designer Arm Holdings (ARM), voice AI recognition firm SoundHound AI (SOUN), and Chinese self-driving truckmaker TuSimple (TSPH).
The chip giant also disclosed investments in biotech company Recursion Pharmaceuticals (RXRX) and medical imaging developer Nano-X Imaging (NNOX) as of the end of 2023, as revealed in its 13F filing.
The Arm Holdings stake was the most substantial, totaling $147.3M. This disclosure comes after Nvidia’s unsuccessful attempt to acquire Arm for $40B in 2020, and subsequent regulatory hurdles that forced the company to abandon the deal in 2022.
Notably, Arm’s stock has more than doubled in value since its market debut in September, marking one of 2023’s standout IPO success stories.
Nvidia’s disclosure of a $3.7M stake in SoundHound and SoftBank’s new stake in the firm triggered a substantial 45.9% surge in SoundHound’s shares after the bell on Wednesday.
Nvidia’s holdings in Recursion amounted to around $76M, while it disclosed smaller stakes in TuSimple at a little over $3M and Nano-X Imaging at $379.9K. Following this disclosure, Nano-X Imaging saw its shares surge by an impressive 82.1% after hours.
It’s worth noting that TuSimple is in the process of winding down its U.S. operations and recently delisted its stock from Nasdaq.
Reflecting on stock performance over the past year, Recursion saw a gain of 31.1%, while Nano-X Imaging experienced a decline of 19.3%. SoundHound, TuSimple, and revealed that SoundHound, TuSimple, and Nano-X Imaging faced declines of 40.2%, 84.2%, and 31.1% respectively.
